Chimera Investment Corp. (CIM) Sees Large Volume Increase
Shares of Chimera Investment Corp. (NYSE:CIM) saw unusually-strong trading volume on Wednesday . Approximately 2,707,813 shares traded hands during trading, an increase of 59% from the previous session’s volume of 1,704,098 shares.The stock last traded at $16.29 and had previously closed at $16.29.
Several equities research analysts have recently issued reports on CIM shares. Nomura reissued a “buy” rating and set a $17.00 price objective on shares of Chimera Investment Corp. in a research report on Tuesday, July 5th. Zacks Investment Research raised shares of Chimera Investment Corp. from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective for the company in a research report on Thursday, July 14th. Deutsche Bank AG increased their price objective on shares of Chimera Investment Corp. from $14.50 to $17.50 and gave the stock a “hold” rating in a research report on Tuesday, August 9th. Keefe, Bruyette & Woods increased their price objective on shares of Chimera Investment Corp. from $14.00 to $15.50 and gave the stock a “market perform” rating in a research report on Tuesday, August 9th. Finally, Barclays PLC increased their price objective on shares of Chimera Investment Corp. from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $16.58.
The firm’s 50-day moving average price is $16.38 and its 200-day moving average price is $15.25. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 13.85 and a beta of 0.82.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/22/chimera-investment-corp-cim-sees-large-volume-increase.html
Chimera Investment Corp. (NYSE:CIM) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.02. The firm earned $137.87 million during the quarter, compared to analyst estimates of $134.42 million. Chimera Investment Corp. had a return on equity of 13.50% and a net margin of 26.83%. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. On average, analysts forecast that Chimera Investment Corp. will post $2.23 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Friday, September 30th will be given a $0.48 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 11.79%. Chimera Investment Corp.’s dividend payout ratio (DPR) is currently 160.00%.
In other news, COO Choudhary Yarlagadda purchased 2,305 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were purchased at an average price of $16.10 per share, for a total transaction of $37,110.50. Following the transaction, the chief operating officer now owns 104,391 shares of the company’s stock, valued at $1,680,695.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.62% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC purchased a new position in shares of Chimera Investment Corp. during the second quarter worth about $114,000. Nisa Investment Advisors LLC purchased a new position in shares of Chimera Investment Corp. during the second quarter worth about $159,000. Advisor Group Inc. purchased a new position in shares of Chimera Investment Corp. during the second quarter worth about $159,000. Prudential PLC purchased a new position in shares of Chimera Investment Corp. during the first quarter worth about $160,000. Finally, HighTower Advisors LLC purchased a new position in shares of Chimera Investment Corp. during the second quarter worth about $160,000. Hedge funds and other institutional investors own 53.61% of the company’s stock.
About Chimera Investment Corp.
Chimera Investment Corporation is a real estate investment trust. The Company is primarily engaged in the business of investing, on a leveraged basis, in a diversified portfolio of mortgage assets, including Agency residential mortgage-backed securities (RMBS), Non-Agency RMBS, Agency commercial mortgage backed securities (CMBS), residential mortgage loans and real estate related securities.
Receive News & Ratings for Chimera Investment Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chimera Investment Corp. and related companies with MarketBeat.com's FREE daily email newsletter.