Zacks Investment Research upgraded shares of CHIMERA INVT CO/SH NEW (NYSE:CIM) from a sell rating to a hold rating in a research note published on Monday, Zacks.com reports.
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. “
Separately, Credit Suisse Group downgraded shares of CHIMERA INVT CO/SH NEW from an outperform rating to a neutral rating and set a $19.50 target price for the company. in a research report on Wednesday, August 21st. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $19.75.
Shares of NYSE CIM opened at $19.88 on Monday. The company has a 50 day simple moving average of $19.46 and a 200 day simple moving average of $19.07. The firm has a market cap of $3.70 billion, a PE ratio of 8.70 and a beta of 0.59. CHIMERA INVT CO/SH NEW has a 1 year low of $16.88 and a 1 year high of $19.98. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.02 and a quick ratio of 0.02.
CHIMERA INVT CO/SH NEW (NYSE:CIM) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The firm had revenue of $141.80 million for the quarter, compared to analyst estimates of $157.07 million. CHIMERA INVT CO/SH NEW had a net margin of 16.96% and a return on equity of 12.51%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 EPS. As a group, research analysts anticipate that CHIMERA INVT CO/SH NEW will post 2.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 10.06%. The ex-dividend date is Thursday, September 26th. CHIMERA INVT CO/SH NEW’s dividend payout ratio is presently 85.47%.
Large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC increased its position in CHIMERA INVT CO/SH NEW by 4.2% during the 1st quarter. Advisory Services Network LLC now owns 90,099 shares of the real estate investment trust’s stock valued at $1,688,000 after purchasing an additional 3,591 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in CHIMERA INVT CO/SH NEW during the 2nd quarter valued at approximately $25,000. Altshuler Shaham Ltd increased its position in CHIMERA INVT CO/SH NEW by 77.6% during the 2nd quarter. Altshuler Shaham Ltd now owns 5,598 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 2,446 shares during the period. Martingale Asset Management L P grew its position in shares of CHIMERA INVT CO/SH NEW by 10.9% during the 1st quarter. Martingale Asset Management L P now owns 612,273 shares of the real estate investment trust’s stock worth $11,476,000 after buying an additional 60,319 shares during the period. Finally, Yorktown Management & Research Co Inc acquired a new stake in shares of CHIMERA INVT CO/SH NEW during the 1st quarter worth approximately $590,000. 51.53% of the stock is owned by institutional investors and hedge funds.
CHIMERA INVT CO/SH NEW 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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