Zacks Investment Research lowered shares of Chimera Investment (NYSE:CIM) from a hold rating to a sell rating in a report published on Tuesday.
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. “
Several other equities analysts have also recently weighed in on CIM. Credit Suisse Group raised shares of Chimera Investment from a neutral rating to an outperform rating and raised their price target for the company from $18.01 to $19.00 in a research report on Thursday, January 25th. Deutsche Bank raised shares of Chimera Investment from a hold rating to a buy rating in a research report on Wednesday, January 31st. ValuEngine lowered shares of Chimera Investment from a strong-buy rating to a buy rating in a research note on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reiterated a hold rating and issued a $18.00 price objective on shares of Chimera Investment in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $18.75.
Shares of NYSE CIM opened at $17.96 on Tuesday. Chimera Investment has a fifty-two week low of $17.95 and a fifty-two week high of $17.99. The stock has a market capitalization of $3.31 billion, a P/E ratio of 7.68 and a beta of 0.50. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 2.59.
Chimera Investment (NYSE:CIM) last announced its quarterly earnings results on Thursday, May 3rd. The real estate investment trust reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.04). Chimera Investment had a net margin of 50.72% and a return on equity of 12.98%. The business had revenue of $147.90 million during the quarter, compared to the consensus estimate of $148.70 million. During the same period in the previous year, the business posted $0.51 EPS. Chimera Investment’s revenue was up 4.8% compared to the same quarter last year. sell-side analysts expect that Chimera Investment will post 2.28 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Friday, June 29th will be paid a $0.50 dividend. The ex-dividend date is Thursday, June 28th. This represents a $2.00 annualized dividend and a yield of 11.14%. Chimera Investment’s dividend payout ratio (DPR) is 85.47%.
Large investors have recently bought and sold shares of the business. American Century Companies Inc. purchased a new stake in Chimera Investment in the 4th quarter valued at about $9,021,000. Schwab Charles Investment Management Inc. increased its stake in Chimera Investment by 3.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,240,353 shares of the real estate investment trust’s stock valued at $22,922,000 after buying an additional 46,512 shares during the last quarter. Swiss National Bank increased its stake in Chimera Investment by 2.3% in the 4th quarter. Swiss National Bank now owns 287,880 shares of the real estate investment trust’s stock valued at $5,320,000 after buying an additional 6,400 shares during the last quarter. Allianz Asset Management GmbH increased its stake in Chimera Investment by 2.9% in the 4th quarter. Allianz Asset Management GmbH now owns 1,896,578 shares of the real estate investment trust’s stock valued at $35,049,000 after buying an additional 52,874 shares during the last quarter. Finally, Creative Planning increased its stake in Chimera Investment by 26.8% in the 4th quarter. Creative Planning now owns 60,197 shares of the real estate investment trust’s stock valued at $1,112,000 after buying an additional 12,711 shares during the last quarter. Hedge funds and other institutional investors own 49.92% of the company’s stock.
Chimera Investment Company Profile
Chimera Investment Corporation operates as a real estate investment trust in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency and non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, commercial mortgage loans, and other real estate related securities.
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