Zacks Investment Research cut shares of Chimera Investment (NYSE:CIM) from a hold rating to a sell rating in a research note published on Tuesday, January 2nd.
According to Zacks, “Chimera Investment Corporation is a publicly traded real estate investment trust, or REIT, that is primarily engaged in real estate finance. It invests, either directly or indirectly through its subsidiaries, in RMBS, residential mortgage loans, Agency CMBS, commercial mortgage loans, real estate-related securities and various other asset classes. The company has elected and is organized and has operated in a manner that enables it to be taxed as a REIT under the Internal Revenue Code. “
Other equities analysts also recently issued research reports about the stock. Barclays set a $18.00 target price on shares of Chimera Investment and gave the company a hold rating in a research note on Tuesday, October 10th. ValuEngine raised shares of Chimera Investment from a buy rating to a strong-buy rating in a research report on Tuesday, December 5th. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $18.50 price target on shares of Chimera Investment in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Chimera Investment presently has an average rating of Hold and an average target price of $18.83.
Shares of Chimera Investment (NYSE CIM) opened at $17.98 on Tuesday. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 2.72. Chimera Investment has a 1-year low of $17.16 and a 1-year high of $20.90. The company has a market cap of $3,351.89, a PE ratio of 7.50 and a beta of 0.84.
Chimera Investment (NYSE:CIM) last announced its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05. Chimera Investment had a net margin of 58.21% and a return on equity of 13.29%. The business had revenue of $156.46 million during the quarter, compared to the consensus estimate of $150.29 million. During the same quarter last year, the firm earned $0.68 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. equities analysts anticipate that Chimera Investment will post 2.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 29th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 11.12%. The ex-dividend date is Thursday, December 28th. Chimera Investment’s dividend payout ratio (DPR) is currently 61.35%.
In related news, CIO Mohit Marria bought 3,000 shares of the business’s stock in a transaction on Saturday, December 29th. The stock was acquired at an average price of $25.82 per share, with a total value of $77,460.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.65% of the company’s stock.
A number of large investors have recently bought and sold shares of CIM. BlackRock Inc. grew its position in Chimera Investment by 6.7% in the 2nd quarter. BlackRock Inc. now owns 12,031,752 shares of the real estate investment trust’s stock worth $224,151,000 after purchasing an additional 758,460 shares during the period. Janus Henderson Group PLC bought a new stake in Chimera Investment in the 2nd quarter worth approximately $7,516,000. FMR LLC grew its position in Chimera Investment by 34.7% in the 2nd quarter. FMR LLC now owns 1,466,130 shares of the real estate investment trust’s stock worth $27,314,000 after purchasing an additional 377,925 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Chimera Investment by 7.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,094,299 shares of the real estate investment trust’s stock worth $57,647,000 after purchasing an additional 211,259 shares during the period. Finally, Citigroup Inc. grew its position in Chimera Investment by 184.2% in the 2nd quarter. Citigroup Inc. now owns 253,933 shares of the real estate investment trust’s stock worth $4,730,000 after purchasing an additional 164,593 shares during the period. 50.67% of the stock is owned by institutional investors and hedge funds.
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About Chimera Investment
Chimera Investment Corporation is a real estate investment trust (REIT). The company is engaged in the business of investing in a portfolio of mortgage assets, including agency residential mortgage-backed security (RMBS), non-agency RMBS, agency commercial mortgage-backed securities (CMBS), residential mortgage loans and real estate related securities.
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