Northern Trust Corp Buys 70,362 Shares of Chimera Investment Co. (NYSE:CIM)

Northern Trust Corp lifted its stake in shares of Chimera Investment Co. (NYSE:CIM) by 9.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 800,838 shares of the real estate investment trust’s stock after acquiring an additional 70,362 shares during the quarter. Northern Trust Corp owned approximately 0.99% of Chimera Investment worth $11,212,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Barclays PLC boosted its stake in Chimera Investment by 301.6% in the 3rd quarter. Barclays PLC now owns 183,295 shares of the real estate investment trust’s stock worth $2,901,000 after purchasing an additional 137,655 shares during the period. Franklin Resources Inc. boosted its stake in Chimera Investment by 10.1% in the 3rd quarter. Franklin Resources Inc. now owns 85,236 shares of the real estate investment trust’s stock worth $1,302,000 after purchasing an additional 7,825 shares during the period. SG Americas Securities LLC boosted its stake in Chimera Investment by 39.2% in the 4th quarter. SG Americas Securities LLC now owns 21,138 shares of the real estate investment trust’s stock worth $296,000 after purchasing an additional 5,951 shares during the period. Manning & Napier Advisors LLC boosted its stake in Chimera Investment by 66.7% in the 4th quarter. Manning & Napier Advisors LLC now owns 100,000 shares of the real estate investment trust’s stock worth $1,400,000 after purchasing an additional 40,000 shares during the period. Finally, Empowered Funds LLC purchased a new stake in shares of Chimera Investment during the 4th quarter worth approximately $264,000. 48.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Gerard Creagh purchased 12,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $13.31 per share, for a total transaction of $166,375.00. Following the completion of the transaction, the director now directly owns 138,127 shares in the company, valued at $1,838,470.37. This represents a 9.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.91% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com upgraded Chimera Investment from a “hold” rating to a “buy” rating in a research report on Thursday. UBS Group upgraded Chimera Investment from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.50 to $15.00 in a research report on Wednesday. Royal Bank of Canada upgraded Chimera Investment to a “moderate buy” rating in a research report on Friday, March 14th. Finally, JMP Securities reiterated a “market perform” rating on shares of Chimera Investment in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Chimera Investment has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.

Chimera Investment Stock Up 0.3%

Shares of CIM opened at $14.04 on Friday. The company has a market cap of $1.14 billion, a PE ratio of 13.00 and a beta of 1.76. The business has a fifty day moving average of $12.37 and a 200 day moving average of $13.75. Chimera Investment Co. has a 52-week low of $9.85 and a 52-week high of $16.89. The company has a quick ratio of 3.03, a current ratio of 0.06 and a debt-to-equity ratio of 2.82.

Chimera Investment (NYSE:CIM) last issued its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The company had revenue of $69.22 million during the quarter, compared to the consensus estimate of $72.07 million. Chimera Investment had a return on equity of 7.00% and a net margin of 20.28%. On average, sell-side analysts expect that Chimera Investment Co. will post 1.57 EPS for the current year.

Chimera Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were given a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 10.54%. Chimera Investment’s dividend payout ratio is presently 98.67%.

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.