Wolverine Asset Management LLC Sells 334,255 Shares of Chimera Investment Co. (NYSE:CIM)

Wolverine Asset Management LLC trimmed its holdings in Chimera Investment Co. (NYSE:CIM - Free Report) by 69.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 148,154 shares of the real estate investment trust's stock after selling 334,255 shares during the quarter. Wolverine Asset Management LLC owned 0.18% of Chimera Investment worth $2,345,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Quarry LP increased its stake in shares of Chimera Investment by 1,188.3% during the second quarter. Quarry LP now owns 2,203 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 2,032 shares during the period. Cetera Advisors LLC acquired a new position in Chimera Investment in the 1st quarter valued at about $63,000. Moloney Securities Asset Management LLC lifted its stake in Chimera Investment by 14.1% during the third quarter. Moloney Securities Asset Management LLC now owns 13,913 shares of the real estate investment trust's stock worth $220,000 after purchasing an additional 1,719 shares during the last quarter. AlphaCentric Advisors LLC acquired a new position in shares of Chimera Investment in the second quarter valued at approximately $179,000. Finally, Creative Planning acquired a new stake in Chimera Investment in the third quarter valued at $231,000. 48.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on CIM shares. Keefe, Bruyette & Woods upped their price objective on Chimera Investment from $15.00 to $16.00 and gave the stock a "market perform" rating in a research note on Thursday, August 8th. StockNews.com downgraded Chimera Investment from a "buy" rating to a "hold" rating in a research report on Thursday, August 15th.

Chimera Investment Stock Performance

CIM traded down $0.58 during trading on Tuesday, hitting $14.73. The stock had a trading volume of 526,986 shares, compared to its average volume of 608,120. The firm has a market capitalization of $1.19 billion, a P/E ratio of 4.50 and a beta of 1.73. The company has a debt-to-equity ratio of 3.93, a quick ratio of 4.43 and a current ratio of 3.03. The company's 50-day moving average price is $15.58 and its 200 day moving average price is $14.49. Chimera Investment Co. has a twelve month low of $11.28 and a twelve month high of $16.89.

Chimera Investment (NYSE:CIM - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). Chimera Investment had a net margin of 46.48% and a return on equity of 7.69%. The company had revenue of $195.30 million during the quarter, compared to the consensus estimate of $69.90 million. During the same quarter in the prior year, the company posted $0.39 EPS. On average, equities research analysts forecast that Chimera Investment Co. will post 1.5 EPS for the current fiscal year.

Chimera Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a dividend of $0.37 per share. This is an increase from Chimera Investment's previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 10.05%. The ex-dividend date was Monday, September 30th. Chimera Investment's payout ratio is presently 44.85%.

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.