Credit Suisse AG Buys 11,053 Shares of Chimera Investment Co. (NYSE:CIM)

Posted by Defense World Staff on Sep 5th, 2023

Credit Suisse AG raised its stake in shares of Chimera Investment Co. (NYSE:CIM – Free Report) by 3.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 351,951 shares of the real estate investment trust’s stock after purchasing an additional 11,053 shares during the quarter. Credit Suisse AG owned 0.15% of Chimera Investment worth $1,985,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Chimera Investment by 0.8% in the first quarter. Vanguard Group Inc. now owns 22,082,870 shares of the real estate investment trust’s stock valued at $265,878,000 after buying an additional 176,508 shares in the last quarter. State Street Corp boosted its position in Chimera Investment by 8.0% in the first quarter. State Street Corp now owns 5,454,412 shares of the real estate investment trust’s stock valued at $67,373,000 after buying an additional 405,765 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Chimera Investment by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 4,308,037 shares of the real estate investment trust’s stock worth $23,694,000 after purchasing an additional 215,535 shares in the last quarter. Northern Trust Corp lifted its position in shares of Chimera Investment by 1.4% during the second quarter. Northern Trust Corp now owns 2,436,849 shares of the real estate investment trust’s stock worth $21,493,000 after purchasing an additional 34,748 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Chimera Investment by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,131,752 shares of the real estate investment trust’s stock worth $11,725,000 after purchasing an additional 144,718 shares in the last quarter. Institutional investors own 48.19% of the company’s stock.

Chimera Investment Trading Up 0.7 %

CIM opened at $6.09 on Tuesday. The company has a debt-to-equity ratio of 3.15, a current ratio of 0.10 and a quick ratio of 0.10. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -21.00 and a beta of 1.58. The firm has a 50 day simple moving average of $5.84 and a 200 day simple moving average of $5.62. Chimera Investment Co. has a fifty-two week low of $4.48 and a fifty-two week high of $8.41.

Chimera Investment announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 14th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the real estate investment trust to reacquire up to 19% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Chimera Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 11.82%. The ex-dividend date is Thursday, September 28th. Chimera Investment’s payout ratio is presently -248.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Credit Suisse Group reduced their target price on shares of Chimera Investment from $6.50 to $5.50 in a research report on Friday, May 19th. StockNews.com started coverage on shares of Chimera Investment in a research note on Thursday, August 17th. They set a “hold” rating for the company.

View Our Latest Report on CIM

Chimera Investment Profile

(Free Report)

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, non-agency residential mortgage-backed securities, agency mortgage-backed securities secured, agency mortgage-backed securities secured by pools of commercial mortgage loans, business purpose and investor loans, and other real estate related securities.