Chimera Investment Co. (NYSE:CIM) Declares $0.37 Quarterly Dividend

Chimera Investment Co. (NYSE:CIM) announced a quarterly dividend on Thursday, December 19th,RTT News reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.37 per share by the real estate investment trust on Friday, January 31st. This represents a $1.48 annualized dividend and a yield of 10.49%.

Chimera Investment has raised its dividend by an average of 32.6% annually over the last three years. Chimera Investment has a dividend payout ratio of 88.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Chimera Investment to earn $1.57 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 94.3%.

Chimera Investment Stock Performance

Chimera Investment stock opened at $14.11 on Friday. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 4.28 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 firm has a 50 day simple moving average of $15.06 and a 200-day simple moving average of $14.68. Chimera Investment has a 1-year low of $11.28 and a 1-year high of $16.89.

Chimera Investment (NYSE:CIM) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $195.30 million during the quarter, compared to analysts’ expectations of $69.90 million. Chimera Investment had a net margin of 46.48% and a return on equity of 7.69%. During the same quarter in the prior year, the firm earned $0.39 EPS. On average, analysts expect that Chimera Investment will post 1.47 EPS for the current year.

Insiders Place Their Bets

In other news, CIO Jack Lee Macdowell, Jr. purchased 50,000 shares of the stock in a transaction dated Friday, December 6th. The stock was acquired at an average cost of $14.70 per share, for a total transaction of $735,000.00. Following the completion of the transaction, the executive now directly owns 50,000 shares in the company, valued at approximately $735,000. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.91% of the stock is currently owned by insiders.

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.