Charles Schwab Investment Management Inc. Trims Stake in Chimera Investment Corporation $CIM

Charles Schwab Investment Management Inc. reduced its holdings in shares of Chimera Investment Corporation (NYSE:CIM) by 5.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,816,975 shares of the real estate investment trust’s stock after selling 104,045 shares during the period. Charles Schwab Investment Management Inc. owned about 2.24% of Chimera Investment worth $23,312,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP increased its holdings in Chimera Investment by 1,691.7% during the fourth quarter. Quarry LP now owns 3,243 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 3,062 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Chimera Investment by 8,728.6% in the first quarter. GAMMA Investing LLC now owns 3,708 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 3,666 shares during the period. Motiv8 Investments LLC bought a new position in shares of Chimera Investment in the first quarter worth approximately $131,000. Sigma Planning Corp bought a new position in shares of Chimera Investment in the first quarter worth approximately $131,000. Finally, PharVision Advisers LLC bought a new position in shares of Chimera Investment in the fourth quarter worth approximately $178,000. 48.44% of the stock is owned by hedge funds and other institutional investors.

Chimera Investment Price Performance

Shares of NYSE:CIM opened at $13.5750 on Friday. The company has a debt-to-equity ratio of 4.47, a quick ratio of 4.14 and a current ratio of 4.14. The firm has a fifty day moving average price of $13.83 and a 200 day moving average price of $13.34. Chimera Investment Corporation has a fifty-two week low of $9.85 and a fifty-two week high of $16.89. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 10.77 and a beta of 1.79.

Chimera Investment (NYSE:CIM) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.07). Chimera Investment had a return on equity of 7.28% and a net margin of 21.93%.The company had revenue of $66.01 million for the quarter, compared to the consensus estimate of $83.89 million. As a group, sell-side analysts expect that Chimera Investment Corporation will post 1.57 earnings per share for the current fiscal year.

Chimera Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a dividend of $0.37 per share. The ex-dividend date was Monday, June 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.9%. Chimera Investment’s dividend payout ratio is currently 117.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Chimera Investment from $16.50 to $15.00 and set a “market perform” rating for the company in a research report on Thursday, July 10th. Wall Street Zen lowered shares of Chimera Investment from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, UBS Group upped their price target on shares of Chimera Investment from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, July 10th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Chimera Investment has an average rating of “Hold” and a consensus target price of $15.50.

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.