Chimera Investment (NYSE:CIM) Downgraded by Wall Street Zen to “Sell”

Chimera Investment (NYSE:CIM) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other brokerages also recently issued reports on CIM. Weiss Ratings restated a “sell (d)” rating on shares of Chimera Investment in a research note on Monday, December 29th. UBS Group reduced their price target on shares of Chimera Investment from $16.00 to $15.50 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Finally, Royal Bank Of Canada downgraded shares of Chimera Investment from an “outperform” rating to a “sector perform” rating and set a $13.00 price objective for the company. in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Chimera Investment has an average rating of “Hold” and a consensus target price of $14.50.

Chimera Investment Trading Down 0.3%

NYSE:CIM opened at $13.55 on Friday. Chimera Investment has a 52 week low of $9.85 and a 52 week high of $14.88. The firm has a 50-day moving average price of $12.91 and a two-hundred day moving average price of $13.11. The company has a debt-to-equity ratio of 2.71, a quick ratio of 8.22 and a current ratio of 0.06. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 7.74 and a beta of 1.84.

Chimera Investment (NYSE:CIM) last announced its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The firm had revenue of $72.01 million for the quarter, compared to the consensus estimate of $80.77 million. Chimera Investment had a return on equity of 8.73% and a net margin of 28.06%. On average, equities analysts expect that Chimera Investment will post 1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chimera Investment

Several large investors have recently modified their holdings of CIM. Fox Run Management L.L.C. boosted its holdings in Chimera Investment by 100.6% in the 2nd quarter. Fox Run Management L.L.C. now owns 42,789 shares of the real estate investment trust’s stock worth $593,000 after buying an additional 21,462 shares during the period. Wolverine Asset Management LLC lifted its position in shares of Chimera Investment by 206.1% during the second quarter. Wolverine Asset Management LLC now owns 761,822 shares of the real estate investment trust’s stock worth $10,566,000 after acquiring an additional 512,909 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of Chimera Investment by 21.7% in the third quarter. Allianz Asset Management GmbH now owns 1,671,318 shares of the real estate investment trust’s stock valued at $22,095,000 after purchasing an additional 297,709 shares in the last quarter. CWM LLC grew its position in shares of Chimera Investment by 508.4% in the second quarter. CWM LLC now owns 5,196 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 4,342 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Chimera Investment during the 2nd quarter valued at $481,000. Hedge funds and other institutional investors own 48.44% of the company’s stock.

About Chimera Investment

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.