Dallas, Texas 12/13/2013 (FINANCIALSTRENDS) – Chimera Investment Corporation (NYSE:CIM) is a $3.13 billion market capped Real estate investment trust which is head quartered in New York. It primary investment vehicle is “residential mortgage-backed securities, residential mortgage loans, commercial mortgage loans and real estate-related securities.”
Yesterday it announced the book value of its holdings at current rates and forth quarter dividend payout rates. It has also disclosed that it has brought in a new investment officer to guide the REIT to provide better results going forward. As per the announcement the investment trusts estimated book value as of close of business on September 30 has come in at $3.47 per share. The board of directors of Chimera Investment Corporation (NYSE:CIM) also disclosed that its 4th quarter dividend payout would be $0.09 per share and this same rate of payout would also be maintained for the first and second quarter of FY14.
At current valuations Chimera Investment Corporation (NYSE:CIM) has posted net gains of 25 percent in its market value over the past 12 months. Its rate of returns has subsided over the past few months as it’s growth rate has come down to 2.35 percent in the past week and by 3.39 percent in the past one month. The stock was trading at $3.05 per share at end of trading day, yesterday. At these levels it is trading at 7.2% below its prior 52 week bench mark of $3.29 per share. In addition to the appreciable gains posted at the markets, this REIT has also attempted to pay back investor returns in the form of dividends. Over the trailing 12 months, Chimera Investment Corporation (NYSE:CIM) has paid out $0.36 per share of dividend which works out to a dividend yield of 11.8 per share. This REIT has issued 1.03 billion outstanding shares of which institutions own 57.6 percent.