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4 Buys Near 52-Week Highs

CIM Chart CIM data by YCharts

Chimera Investment (CIM - Get Report)

Background: Chimera operates as a real estate investment trust in the United States. It was founded in 2007 and is based in New York. Chimera trades an average of 9.2 million shares per day with a market cap of $3.4 billion.

52-Week High: $3.34

Beta: 0.87

Price to Book: 1.12

Chimera made two new 52 week highs in as many months and appears ready to strike again. It's hard to miss Chimera's eye-popping 10% yield. But you shouldn't back up the truck just yet; Chimera is a mortgage REIT with potentially highly volatile earnings and dividends.

The company's board recently approved maintaining third- and fourth-quarter dividend payments at the current rate. This is exciting news for now, but our friends in Washington see REITs as a target, according to the Wall Street Journal.

Any changes in the IRS code that may restrict the tax advantage of REITs will certainly impact upon the share price. Because of the highly volatile nature of earnings and legislative peril, Chimera can be bought but with caution and with a much smaller allocation than for a typical stock.
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