Wall Street Zen Downgrades Chimera Investment (NYSE:CIM) to Sell

Chimera Investment (NYSE:CIM) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other equities research analysts have also issued reports on the stock. Weiss Ratings lowered shares of Chimera Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Royal Bank Of Canada restated a “sector perform” rating and issued a $14.00 price target on shares of Chimera Investment in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Chimera Investment has an average rating of “Hold” and an average target price of $14.83.

Chimera Investment Trading Up 0.0%

Shares of NYSE CIM opened at $13.29 on Friday. Chimera Investment has a twelve month low of $11.67 and a twelve month high of $14.88. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 2.31. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -16.61 and a beta of 1.68. The company’s fifty day moving average is $13.41 and its 200-day moving average is $13.13.

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

Institutional Investors Weigh In On Chimera Investment

Several institutional investors have recently made changes to their positions in the stock. VSM Wealth Advisory LLC boosted its stake in shares of Chimera Investment by 64.3% in the third quarter. VSM Wealth Advisory LLC now owns 2,391 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 936 shares during the period. Harbour Investments Inc. lifted its position in shares of Chimera Investment by 1.5% during the 4th quarter. Harbour Investments Inc. now owns 68,905 shares of the real estate investment trust’s stock valued at $856,000 after acquiring an additional 994 shares during the period. Cetera Investment Advisers lifted its position in shares of Chimera Investment by 6.1% during the 2nd quarter. Cetera Investment Advisers now owns 19,926 shares of the real estate investment trust’s stock valued at $276,000 after acquiring an additional 1,143 shares during the period. ProShare Advisors LLC grew its holdings in shares of Chimera Investment by 9.8% during the 4th quarter. ProShare Advisors LLC now owns 14,952 shares of the real estate investment trust’s stock worth $186,000 after purchasing an additional 1,335 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Chimera Investment by 4.5% during the 3rd quarter. Intech Investment Management LLC now owns 33,098 shares of the real estate investment trust’s stock worth $438,000 after purchasing an additional 1,421 shares in the last quarter. 48.44% of the stock is currently owned by institutional investors.

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.