Chimera Investment’s (CIM) Sector Perform Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada restated their sector perform rating on shares of Chimera Investment (NYSE:CIM) in a research note released on Wednesday morning,Benzinga reports. Royal Bank Of Canada currently has a $14.00 price target on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the stock. Weiss Ratings lowered shares of Chimera Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Wall Street Zen raised shares of Chimera Investment from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.83.

Chimera Investment Stock Down 2.9%

CIM opened at $13.15 on Wednesday. Chimera Investment has a fifty-two week low of $11.67 and a fifty-two week high of $14.88. The business has a 50-day moving average of $13.28 and a 200-day moving average of $13.05. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market capitalization of $1.10 billion, a PE ratio of -16.44 and a beta of 1.68.

Chimera Investment (NYSE:CIM) last posted its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $32.37 million during the quarter, compared to the consensus estimate of $102.35 million. Chimera Investment had a return on equity of 9.36% and a net margin of 2.27%.

Hedge Funds Weigh In On Chimera Investment

A number of institutional investors have recently modified their holdings of CIM. SG Americas Securities LLC bought a new position in shares of Chimera Investment in the fourth quarter valued at approximately $7,431,000. UBS Group AG raised its position in shares of Chimera Investment by 130.7% in the fourth quarter. UBS Group AG now owns 763,691 shares of the real estate investment trust’s stock valued at $9,493,000 after purchasing an additional 432,727 shares during the period. Ritholtz Wealth Management bought a new position in shares of Chimera Investment in the fourth quarter valued at approximately $4,977,000. Allianz Asset Management GmbH raised 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 during the period. Finally, Millennium Management LLC raised its position in shares of Chimera Investment by 65.8% in the fourth quarter. Millennium Management LLC now owns 697,620 shares of the real estate investment trust’s stock valued at $8,671,000 after purchasing an additional 276,950 shares during the period. 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.