Chimera Investment (NYSE:CIM) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Chimera Investment (NYSE:CIMFree Report) from a hold rating to a buy rating in a research note published on Thursday.

Chimera Investment Stock Performance

NYSE CIM opened at $11.78 on Thursday. Chimera Investment has a fifty-two week low of $11.42 and a fifty-two week high of $19.47. The company has a debt-to-equity ratio of 3.70, a quick ratio of 5.46 and a current ratio of 5.46. The firm has a market capitalization of $947.48 million, a P/E ratio of 7.70 and a beta of 1.68. The stock’s fifty day moving average is $13.35 and its two-hundred day moving average is $14.09.

Chimera Investment Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 8th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 11.21%. The ex-dividend date of this dividend was Friday, April 5th. This is an increase from Chimera Investment’s previous quarterly dividend of $0.11. Chimera Investment’s payout ratio is currently 86.27%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CIM. Norges Bank acquired a new position in Chimera Investment during the 4th quarter worth $7,832,000. MGO One Seven LLC raised its stake in Chimera Investment by 2,943.7% during the 4th quarter. MGO One Seven LLC now owns 990,356 shares of the real estate investment trust’s stock valued at $4,942,000 after acquiring an additional 957,818 shares during the last quarter. Wolverine Asset Management LLC raised its stake in Chimera Investment by 261.9% during the 4th quarter. Wolverine Asset Management LLC now owns 1,141,057 shares of the real estate investment trust’s stock valued at $5,694,000 after acquiring an additional 825,743 shares during the last quarter. Vanguard Group Inc. raised its stake in Chimera Investment by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 23,107,649 shares of the real estate investment trust’s stock valued at $106,526,000 after acquiring an additional 459,838 shares during the last quarter. Finally, Pinebridge Investments L.P. raised its stake in Chimera Investment by 87.6% during the 4th quarter. Pinebridge Investments L.P. now owns 546,611 shares of the real estate investment trust’s stock valued at $2,728,000 after acquiring an additional 255,214 shares during the last quarter. 48.44% of the stock is owned by institutional investors and hedge funds.

About Chimera Investment

(Get Free Report)

Chimera Investment Corporation operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, business purpose and investor loans, and other real estate related securities.

Featured Stories

Receive News & Ratings for Chimera Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chimera Investment and related companies with MarketBeat.com's FREE daily email newsletter.