Chimera Investment (NYSE:CIM) Shares Gap Down on Disappointing Earnings

Chimera Investment Co. (NYSE:CIM)’s stock price gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $15.09, but opened at $14.14. Chimera Investment shares last traded at $13.75, with a volume of 406,800 shares trading hands.

The real estate investment trust reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.10). Chimera Investment had a net margin of 46.48% and a return on equity of 7.69%.

Chimera Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.72%. The ex-dividend date was Tuesday, December 31st. Chimera Investment’s dividend payout ratio is currently 44.85%.

Wall Street Analyst Weigh In

Separately, JMP Securities reissued a “market perform” rating on shares of Chimera Investment in a research report on Thursday, January 23rd.

Insider Activity

In related news, CIO Jack Lee Macdowell, Jr. purchased 50,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were acquired at an average cost of $14.91 per share, with a total value of $745,500.00. Following the completion of the purchase, the executive now directly owns 100,000 shares of the company’s stock, valued at $1,491,000. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.91% of the stock is owned by insiders.

Institutional Trading of Chimera Investment

Several hedge funds have recently modified their holdings of CIM. State Street Corp boosted its stake in Chimera Investment by 0.4% in the third quarter. State Street Corp now owns 1,914,764 shares of the real estate investment trust’s stock valued at $31,010,000 after acquiring an additional 7,595 shares during the last quarter. Geode Capital Management LLC boosted its stake in Chimera Investment by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,859,330 shares of the real estate investment trust’s stock valued at $29,439,000 after acquiring an additional 32,835 shares during the last quarter. Leeward Investments LLC MA boosted its stake in Chimera Investment by 1.7% in the third quarter. Leeward Investments LLC MA now owns 859,955 shares of the real estate investment trust’s stock valued at $13,613,000 after acquiring an additional 14,622 shares during the last quarter. Van ECK Associates Corp boosted its stake in Chimera Investment by 18.9% in the fourth quarter. Van ECK Associates Corp now owns 767,568 shares of the real estate investment trust’s stock valued at $10,746,000 after acquiring an additional 122,088 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Chimera Investment by 15.6% in the fourth quarter. Bank of New York Mellon Corp now owns 365,603 shares of the real estate investment trust’s stock valued at $5,118,000 after acquiring an additional 49,388 shares during the last quarter. 48.44% of the stock is owned by institutional investors.

Chimera Investment Trading Down 8.5 %

The stock has a market capitalization of $1.12 billion, a P/E ratio of 4.19 and a beta of 1.71. The company has a debt-to-equity ratio of 3.93, a current ratio of 3.03 and a quick ratio of 3.03. The business’s 50 day simple moving average is $14.50 and its 200-day simple moving average is $14.97.

About Chimera Investment

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.