Piermont Capital Management Inc. Lowers Position in Chimera Investment Corporation (CIM)

Piermont Capital Management Inc. trimmed its holdings in Chimera Investment Corporation (NYSE:CIM) by 20.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 122,314 shares of the real estate investment trust’s stock after selling 30,960 shares during the period. Piermont Capital Management Inc. owned 0.07% of Chimera Investment Corporation worth $2,279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CIM. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Chimera Investment Corporation by 6.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,354 shares of the real estate investment trust’s stock valued at $156,000 after acquiring an additional 485 shares during the last quarter. Ffcm LLC grew its stake in Chimera Investment Corporation by 99.8% in the 2nd quarter. Ffcm LLC now owns 9,691 shares of the real estate investment trust’s stock valued at $183,000 after acquiring an additional 4,840 shares during the last quarter. Winslow Evans & Crocker Inc. acquired a new stake in Chimera Investment Corporation in the 2nd quarter valued at about $189,000. Synovus Financial Corp grew its stake in Chimera Investment Corporation by 3.3% in the 2nd quarter. Synovus Financial Corp now owns 10,147 shares of the real estate investment trust’s stock valued at $194,000 after acquiring an additional 326 shares during the last quarter. Finally, Snow Capital Management LP acquired a new stake in Chimera Investment Corporation in the 1st quarter valued at about $201,000. 52.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Chimera Investment Corporation (NYSE:CIM) traded up 0.78% during midday trading on Friday, reaching $19.47. 1,284,378 shares of the company were exchanged. Chimera Investment Corporation has a 52-week low of $14.70 and a 52-week high of $20.90. The company has a market capitalization of $3.66 billion, a PE ratio of 5.60 and a beta of 0.90. The firm’s 50 day moving average is $18.99 and its 200-day moving average is $19.17.

Chimera Investment Corporation (NYSE:CIM) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.03). The firm had revenue of $150.70 million for the quarter, compared to analyst estimates of $149.75 million. Chimera Investment Corporation had a return on equity of 14.27% and a net margin of 63.94%. Chimera Investment Corporation’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 earnings per share. On average, equities analysts forecast that Chimera Investment Corporation will post $2.32 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 29th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 10.27%. The ex-dividend date of this dividend is Thursday, September 28th. Chimera Investment Corporation’s payout ratio is currently 57.31%.

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A number of brokerages recently commented on CIM. Zacks Investment Research cut shares of Chimera Investment Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. BidaskClub raised shares of Chimera Investment Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Deutsche Bank AG increased their price objective on shares of Chimera Investment Corporation from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday, August 3rd. Finally, ValuEngine raised shares of Chimera Investment Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $20.00.

About Chimera Investment Corporation

Chimera Investment Corporation is a real estate investment trust (REIT). The company is engaged in the business of investing in a portfolio of mortgage assets, including agency residential mortgage-backed security (RMBS), non-agency RMBS, agency commercial mortgage-backed securities (CMBS), residential mortgage loans and real estate related securities.

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Institutional Ownership by Quarter for Chimera Investment Corporation (NYSE:CIM)

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