Chimera Investment Corporation (NYSE:CIM) Given Average Recommendation of “Hold” by Brokerages

Chimera Investment Corporation (NYSE:CIM) has been assigned an average rating of “Hold” from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $14.50.

A number of analysts have commented on the company. Royal Bank Of Canada downgraded Chimera Investment from an “outperform” rating to a “sector perform” rating and set a $13.00 price objective for the company. in a research report on Tuesday, December 9th. UBS Group reduced their target price on Chimera Investment from $16.00 to $15.50 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Chimera Investment in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Chimera Investment from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th.

Chimera Investment Price Performance

Shares of Chimera Investment stock opened at $13.06 on Friday. The company has a debt-to-equity ratio of 4.75, a current ratio of 8.22 and a quick ratio of 8.22. The company has a market cap of $1.09 billion, a PE ratio of -32.64 and a beta of 1.83. The firm has a fifty day moving average price of $12.58 and a two-hundred day moving average price of $13.30. Chimera Investment has a fifty-two week low of $9.85 and a fifty-two week high of $15.37.

Chimera Investment (NYSE:CIM) last announced its quarterly earnings data on Monday, March 6th. The real estate investment trust reported $0.46 EPS for the quarter. Chimera Investment had a net margin of 4.27% and a return on equity of 7.36%. The business had revenue of ($60.05) million during the quarter. Analysts expect that Chimera Investment will post 1.57 EPS for the current year.

Chimera Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 11.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Chimera Investment’s payout ratio is presently -370.00%.

Hedge Funds Weigh In On Chimera Investment

Several hedge funds and other institutional investors have recently modified their holdings of CIM. Thornburg Investment Management Inc. grew its position in Chimera Investment by 1.4% in the third quarter. Thornburg Investment Management Inc. now owns 5,019,354 shares of the real estate investment trust’s stock valued at $66,356,000 after acquiring an additional 70,619 shares during the period. Geode Capital Management LLC boosted its stake in shares of Chimera Investment by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,915,000 shares of the real estate investment trust’s stock valued at $26,564,000 after purchasing an additional 33,699 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Chimera Investment by 21.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,671,318 shares of the real estate investment trust’s stock worth $22,095,000 after purchasing an additional 297,709 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Chimera Investment by 2.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,547,432 shares of the real estate investment trust’s stock worth $21,463,000 after purchasing an additional 35,425 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of Chimera Investment by 7.3% during the 2nd quarter. LSV Asset Management now owns 1,523,435 shares of the real estate investment trust’s stock worth $21,130,000 after purchasing an additional 103,900 shares in the last quarter. Institutional investors own 48.44% of the company’s stock.

Chimera Investment Company Profile

Chimera Investment Corporation (NYSE: CIM) is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company’s portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.

The firm’s core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.