Shares of Chimera Investment Corp. (NYSE:CIM) have earned an average rating of “Hold” from the seven ratings firms that are currently covering the stock. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $16.58.
A number of research firms have weighed in on CIM. Keefe, Bruyette & Woods boosted their price objective on shares of Chimera Investment Corp. from $14.00 to $15.50 and gave the company a “market perform” rating in a research report on Tuesday, August 9th. Nomura reiterated a “buy” rating and set a $18.00 price objective (up previously from $17.00) on shares of Chimera Investment Corp. in a research report on Wednesday, August 10th. Barclays PLC boosted their price objective on shares of Chimera Investment Corp. from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 10th. Zacks Investment Research upgraded shares of Chimera Investment Corp. from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective on the stock in a research report on Thursday, July 14th. Finally, Deutsche Bank AG boosted their price objective on shares of Chimera Investment Corp. from $14.50 to $17.50 and gave the company a “hold” rating in a research report on Tuesday, August 9th.
In other Chimera Investment Corp. news, COO Choudhary Yarlagadda acquired 2,305 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was bought at an average cost of $16.10 per share, with a total value of $37,110.50. Following the completion of the purchase, the chief operating officer now directly owns 104,391 shares in the company, valued at $1,680,695.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in CIM. Utah Retirement Systems raised its stake in Chimera Investment Corp. by 0.6% in the second quarter. Utah Retirement Systems now owns 34,139 shares of the company’s stock worth $536,000 after buying an additional 200 shares during the period. BBR Partners LLC raised its stake in Chimera Investment Corp. by 3.4% in the second quarter. BBR Partners LLC now owns 12,926 shares of the company’s stock worth $203,000 after buying an additional 425 shares during the period. Raymond James Trust N.A. raised its stake in Chimera Investment Corp. by 2.6% in the second quarter. Raymond James Trust N.A. now owns 18,011 shares of the company’s stock worth $283,000 after buying an additional 453 shares during the period. Amalgamated Bank raised its stake in Chimera Investment Corp. by 3.0% in the second quarter. Amalgamated Bank now owns 22,658 shares of the company’s stock worth $370,000 after buying an additional 657 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in Chimera Investment Corp. by 1.8% in the second quarter. Public Employees Retirement System of Ohio now owns 48,590 shares of the company’s stock worth $763,000 after buying an additional 868 shares during the period. 53.61% of the stock is owned by institutional investors.
Shares of Chimera Investment Corp. (NYSE:CIM) remained flat at $14.90 during trading on Thursday. The company’s stock had a trading volume of 1,045,435 shares. Chimera Investment Corp. has a 52 week low of $10.89 and a 52 week high of $16.98. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 12.67 and a beta of 0.83. The firm’s 50-day moving average price is $16.25 and its 200-day moving average price is $15.40.
Chimera Investment Corp. (NYSE:CIM) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.02. Chimera Investment Corp. had a net margin of 26.83% and a return on equity of 13.50%. The firm had revenue of $137.87 million for the quarter, compared to the consensus estimate of $134.42 million. During the same quarter last year, the firm earned $0.57 EPS. The company’s revenue was down 7.9% on a year-over-year basis. Equities research analysts forecast that Chimera Investment Corp. will post $2.23 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 27th. Investors of record on Friday, September 30th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 12.89%. The ex-dividend date of this dividend is Wednesday, September 28th. Chimera Investment Corp.’s dividend payout ratio (DPR) is presently 160.00%.
Chimera Investment Corp. Company Profile
Chimera Investment Corporation is a real estate investment trust. The Company is primarily engaged in the business of investing, on a leveraged basis, in a diversified portfolio of mortgage assets, including Agency residential mortgage-backed securities (RMBS), Non-Agency RMBS, Agency commercial mortgage backed securities (CMBS), residential mortgage loans and real estate related securities.
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