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

Chimera Investment Co. (NYSE:CIM) shares gapped down before the market opened on Wednesday following a weaker than expected 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 traded.

The real estate investment trust reported $0.37 earnings per share 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 firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 10.72%. The ex-dividend date was Tuesday, December 31st. Chimera Investment’s payout ratio is 44.85%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, CIO Jack Lee Macdowell, Jr. bought 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were purchased at an average price of $14.91 per share, with a total value of $745,500.00. Following the completion of the acquisition, the executive now directly owns 100,000 shares in the company, valued at approximately $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 the SEC website. Insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Chimera Investment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CIM. New Age Alpha Advisors LLC bought a new stake in Chimera Investment during the fourth quarter worth approximately $56,000. Prospera Private Wealth LLC acquired a new position in Chimera Investment in the third quarter worth approximately $65,000. Hillsdale Investment Management Inc. acquired a new position in Chimera Investment in the fourth quarter worth approximately $65,000. Simplify Asset Management Inc. acquired a new position in Chimera Investment in the third quarter worth approximately $158,000. Finally, Investment Partners Asset Management Inc. acquired a new position in Chimera Investment in the fourth quarter worth approximately $183,000. Institutional investors own 48.44% of the company’s stock.

Chimera Investment Stock Performance

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

Chimera Investment Company Profile

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.