Chimera Investment Corporation (CIM) Receives Average Recommendation of “Hold” from Brokerages
Shares of Chimera Investment Corporation (NYSE:CIM) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $17.50.
CIM has been the topic of a number of research reports. BidaskClub raised shares of Chimera Investment Corporation from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays PLC set a $17.00 target price on shares of Chimera Investment Corporation and gave the stock a “hold” rating in a research note on Monday, May 8th. Zacks Investment Research raised shares of Chimera Investment Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Deutsche Bank AG raised their target price on shares of Chimera Investment Corporation from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Finally, ValuEngine raised shares of Chimera Investment Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 3rd.
Chimera Investment Corporation (CIM) traded up 0.74% during midday trading on Friday, hitting $19.04. The company had a trading volume of 820,014 shares. The company has a 50 day moving average price of $18.76 and a 200 day moving average price of $19.09. Chimera Investment Corporation has a 1-year low of $14.70 and a 1-year high of $20.90. The firm has a market capitalization of $3.58 billion, a P/E ratio of 5.47 and a beta of 0.94.
Chimera Investment Corporation (NYSE:CIM) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by $0.03. The company had revenue of $150.70 million during the quarter, compared to analysts’ expectations of $149.75 million. Chimera Investment Corporation had a net margin of 63.94% and a return on equity of 14.27%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 earnings per share. Equities research analysts forecast that Chimera Investment Corporation will post $2.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 10.50%. The ex-dividend date of this dividend is Thursday, September 28th. Chimera Investment Corporation’s payout ratio is presently 57.31%.
Hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC bought a new stake in Chimera Investment Corporation during the first quarter valued at $2,337,000. Wells Fargo & Company MN increased its stake in Chimera Investment Corporation by 7.3% in the first quarter. Wells Fargo & Company MN now owns 1,058,026 shares of the real estate investment trust’s stock valued at $21,352,000 after buying an additional 71,903 shares during the period. Greenleaf Trust increased its stake in Chimera Investment Corporation by 0.6% in the first quarter. Greenleaf Trust now owns 15,305 shares of the real estate investment trust’s stock valued at $309,000 after buying an additional 96 shares during the period. DUPONT CAPITAL MANAGEMENT Corp increased its stake in Chimera Investment Corporation by 23.1% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 227,200 shares of the real estate investment trust’s stock valued at $4,585,000 after buying an additional 42,700 shares during the period. Finally, Old Mutual Global Investors UK Ltd. increased its stake in Chimera Investment Corporation by 106.7% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 725,503 shares of the real estate investment trust’s stock valued at $14,640,000 after buying an additional 374,561 shares during the period. Hedge funds and other institutional investors own 53.28% of the company’s stock.
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Chimera Investment Corporation Company Profile
Chimera Investment Corporation is a real estate investment trust (REIT). The company is engaged in the business of investing in a portfolio of mortgage assets, including agency residential mortgage-backed security (RMBS), non-agency RMBS, agency commercial mortgage-backed securities (CMBS), residential mortgage loans and real estate related securities.
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