Chimera Investment (NYSE:CIM) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Chimera Investment Corporation (NYSE:CIM) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.18 and traded as high as $13.18. Chimera Investment shares last traded at $13.0050, with a volume of 736,856 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CIM. Wall Street Zen upgraded Chimera Investment from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Weiss Ratings downgraded Chimera Investment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $14.00 price objective on shares of Chimera Investment in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Chimera Investment has an average rating of “Hold” and a consensus price target of $14.75.

Chimera Investment Price Performance

The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 2.31. The stock has a fifty day simple moving average of $13.30 and a two-hundred day simple moving average of $13.18. The company has a market cap of $1.09 billion, a PE ratio of -16.26 and a beta of 1.67.

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 analysts’ consensus estimates of $0.52 by $0.02. The business 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%.

Chimera Investment Announces Dividend

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 issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 13.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Chimera Investment’s dividend payout ratio is currently -225.00%.

Institutional Investors Weigh In On Chimera Investment

A number of hedge funds and other institutional investors have recently bought and sold shares of CIM. Vanguard Group Inc. grew its stake in shares of Chimera Investment by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 7,651,505 shares of the real estate investment trust’s stock worth $95,108,000 after purchasing an additional 208,112 shares during the period. Thornburg Investment Management Inc. lifted its stake in shares of Chimera Investment by 5.0% in the fourth quarter. Thornburg Investment Management Inc. now owns 5,268,481 shares of the real estate investment trust’s stock valued at $65,487,000 after purchasing an additional 249,127 shares during the period. Geode Capital Management LLC lifted its stake in shares of Chimera Investment by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,975,021 shares of the real estate investment trust’s stock valued at $24,554,000 after purchasing an additional 43,419 shares during the period. Balyasny Asset Management L.P. boosted its holdings in Chimera Investment by 2.3% during the second 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 buying an additional 35,425 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Chimera Investment by 7.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 982,889 shares of the real estate investment trust’s stock worth $12,994,000 after buying an additional 66,031 shares in the last quarter. Institutional investors and hedge funds 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.