Chimera Investment Corporation (NYSE:CIM) Receives Consensus Recommendation of “Hold” from Analysts

Chimera Investment Corporation (NYSE:CIM) has earned an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $14.50.

A number of brokerages have commented on CIM. UBS Group decreased their price objective on shares of Chimera Investment from $16.00 to $15.50 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chimera Investment in a research report on Monday, December 29th. Wall Street Zen raised shares of Chimera Investment from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Royal Bank Of Canada downgraded Chimera Investment from an “outperform” rating to a “sector perform” rating and set a $13.00 price objective on the stock. in a report on Tuesday, December 9th.

Chimera Investment Stock Up 2.6%

NYSE CIM opened at $13.06 on Friday. The stock’s 50 day simple moving average is $12.58 and its 200 day simple moving average is $13.30. Chimera Investment has a one year low of $9.85 and a one year high of $15.37. The firm has a market cap of $1.09 billion, a PE ratio of -32.64 and a beta of 1.83. The company has a debt-to-equity ratio of 4.75, a current ratio of 8.22 and a quick ratio of 8.22.

Chimera Investment (NYSE:CIM) last posted its quarterly earnings data on Monday, March 6th. The real estate investment trust reported $0.46 EPS for the quarter. Chimera Investment had a return on equity of 7.36% and a net margin of 4.27%.The company had revenue of ($60.05) million for the quarter. As a group, sell-side analysts forecast that Chimera Investment will post 1.57 earnings per share for the current fiscal year.

Chimera Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 11.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Chimera Investment’s dividend payout ratio is -370.00%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CIM. Fox Run Management L.L.C. raised its stake in shares of Chimera Investment by 100.6% during the second quarter. Fox Run Management L.L.C. now owns 42,789 shares of the real estate investment trust’s stock worth $593,000 after buying an additional 21,462 shares during the last quarter. Wolverine Asset Management LLC grew its holdings in Chimera Investment by 206.1% during the 2nd quarter. Wolverine Asset Management LLC now owns 761,822 shares of the real estate investment trust’s stock worth $10,566,000 after acquiring an additional 512,909 shares during the period. Allianz Asset Management GmbH raised its position in shares of Chimera Investment by 9.1% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,373,609 shares of the real estate investment trust’s stock valued at $19,052,000 after acquiring an additional 114,200 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Chimera Investment in the 2nd quarter valued at $314,000. Finally, CWM LLC boosted its position in shares of Chimera Investment by 508.4% in the 2nd quarter. CWM LLC now owns 5,196 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 4,342 shares during the last quarter. 48.44% of the stock is currently owned by institutional investors and hedge funds.

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.