Chimera Investment (NYSE:CIM) Price Target Cut to $7.00 by Analysts at Royal Bank Of Canada

Chimera Investment (NYSE:CIM) had its target price reduced by Royal Bank Of Canada from $13.00 to $7.00 in a research report report published on Friday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the real estate investment trust’s stock.

A number of other research firms also recently issued reports on CIM. Weiss Ratings downgraded shares of Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 18th. Keefe, Bruyette & Woods reduced their target price on shares of Chimera Investment from $13.00 to $11.50 and set a “market perform” rating for the company in a research report on Monday, November 9th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Chimera Investment presently has a consensus rating of “Hold” and an average target price of $11.33.

Chimera Investment Stock Performance

Chimera Investment stock traded down $0.03 during mid-day trading on Friday, reaching $6.60. 2,332,381 shares of the company’s stock were exchanged, compared to its average volume of 1,719,308. The business’s fifty day simple moving average is $9.22 and its 200 day simple moving average is $12.02. The company has a quick ratio of 0.07, a current ratio of 0.05 and a debt-to-equity ratio of 2.46. Chimera Investment has a one year low of $6.37 and a one year high of $14.18. The firm has a market capitalization of $552.74 million, a PE ratio of -2.16 and a beta of 1.75.

Chimera Investment (NYSE:CIM) last announced its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). The business had revenue of ($118.00) million during the quarter, compared to the consensus estimate of $103.10 million. Chimera Investment had a negative net margin of 19.11% and a positive return on equity of 10.31%.

Chimera Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.80 annualized dividend and a dividend yield of 27.3%. Chimera Investment’s dividend payout ratio is presently -58.82%.

Institutional Investors Weigh In On Chimera Investment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its position in shares of Chimera Investment by 13,787.5% in the third quarter. Steward Partners Investment Advisory LLC now owns 3,333 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 3,309 shares during the period. Private Advisor Group LLC lifted its stake in shares of Chimera Investment by 99.9% during the 3rd quarter. Private Advisor Group LLC now owns 255,001 shares of the real estate investment trust’s stock valued at $2,430,000 after buying an additional 127,413 shares in the last quarter. Ieq Capital LLC boosted its holdings in Chimera Investment by 57.5% in the 3rd quarter. Ieq Capital LLC now owns 62,259 shares of the real estate investment trust’s stock worth $593,000 after buying an additional 22,725 shares during the period. StoneX Group Inc. bought a new position in Chimera Investment in the 3rd quarter worth approximately $220,000. Finally, International Assets Investment Management LLC grew its stake in Chimera Investment by 31.0% in the 3rd quarter. International Assets Investment Management LLC now owns 26,695 shares of the real estate investment trust’s stock valued at $250,000 after buying an additional 6,311 shares in the last quarter. 48.44% of the stock is currently owned by institutional investors.

About Chimera Investment

Chimera Investment Corporation is a real estate investment trust (REIT) focused on residential mortgage-related assets. Its investments include residential mortgage loans and residential mortgage-backed securities, as well as commercial mortgage loans and other real estate-related assets. The company seeks to generate income from these assets and may hold them directly or through securitized investments. Its activities are tied primarily to the U.S. mortgage and housing markets. Founded in 2007, Chimera is headquartered in New York.