Chimera Investment (NYSE:CIM) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Chimera Investment Corporation (NYSE:CIM)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.18 and traded as high as $13.27. Chimera Investment shares last traded at $13.0350, with a volume of 481,600 shares traded.

Wall Street Analyst Weigh In

CIM has been the subject of a number of recent research reports. Wall Street Zen raised shares of Chimera Investment from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Weiss Ratings downgraded shares of Chimera Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $14.00 target price on shares of Chimera Investment in a report on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.83.

Chimera Investment Stock Down 0.9%

The company’s 50-day moving average is $13.38 and its 200 day moving average is $13.18. The company has a market capitalization of $1.09 billion, a PE ratio of -16.29 and a beta of 1.67. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.08 and a current ratio of 0.08.

Chimera Investment (NYSE:CIM) last issued its 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. The business had revenue of $32.37 million during the quarter, compared to analysts’ expectations of $102.35 million. Chimera Investment had a net margin of 2.27% and a return on equity of 9.36%.

Chimera Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.80 annualized dividend and a yield of 13.8%. Chimera Investment’s dividend payout ratio is -225.00%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Tudor Investment Corp ET AL raised its holdings in shares of Chimera Investment by 34.9% during the third quarter. Tudor Investment Corp ET AL now owns 320,209 shares of the real estate investment trust’s stock valued at $4,233,000 after purchasing an additional 82,883 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Chimera Investment in the fourth quarter worth approximately $7,431,000. Ritholtz Wealth Management purchased a new stake in Chimera Investment in the fourth quarter worth approximately $4,977,000. Wolverine Asset Management LLC grew its position in Chimera Investment by 35.3% in the 4th quarter. Wolverine Asset Management LLC now owns 713,039 shares of the real estate investment trust’s stock worth $8,863,000 after purchasing an additional 186,114 shares during the period. Finally, UBS Group AG grew its position in Chimera Investment by 130.7% in the 4th quarter. UBS Group AG now owns 763,691 shares of the real estate investment trust’s stock worth $9,493,000 after purchasing an additional 432,727 shares during the period. 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.