Chimera Investment (NYSE:CIM) Hits New 12-Month Low – What’s Next?

Chimera Investment Corporation (NYSE:CIM)’s share price reached a new 52-week low on Monday. The company traded as low as $8.26 and last traded at $8.2480, with a volume of 114,315 shares changing hands. The stock had previously closed at $8.40.

Analysts Set New Price Targets

CIM has been the topic of a number of analyst reports. Wall Street Zen raised shares of Chimera Investment from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Weiss Ratings downgraded Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 18th. Finally, Keefe, Bruyette & Woods cut their price target on Chimera Investment from $15.00 to $14.00 and set a “market perform” rating for the company in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.50.

Chimera Investment Stock Down 1.6%

The company has a market cap of $691.86 million, a PE ratio of -8.09 and a beta of 1.72. The stock has a 50-day moving average of $10.71 and a 200-day moving average of $12.30. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 2.34.

Chimera Investment (NYSE:CIM) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). Chimera Investment had a return on equity of 9.82% and a net margin of 0.14%. The business had revenue of $94.77 million during the quarter, compared to the consensus estimate of $95.30 million.

Chimera Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.80 annualized dividend and a dividend yield of 21.8%. Chimera Investment’s payout ratio is presently -176.47%.

Institutional Investors Weigh In On Chimera Investment

A number of institutional investors and hedge funds have recently bought and sold shares of CIM. BlackRock Inc. lifted its position in Chimera Investment by 9.5% during the second quarter. BlackRock Inc. now owns 7,855,125 shares of the real estate investment trust’s stock valued at $104,787,000 after purchasing an additional 681,996 shares during the last quarter. First Trust Advisors LP grew its stake in Chimera Investment by 82.0% in the 1st quarter. First Trust Advisors LP now owns 543,101 shares of the real estate investment trust’s stock worth $6,816,000 after buying an additional 244,763 shares in the last quarter. State Street Corp increased its holdings in shares of Chimera Investment by 7.8% in the 2nd quarter. State Street Corp now owns 2,029,275 shares of the real estate investment trust’s stock worth $27,957,000 after buying an additional 147,629 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Chimera Investment by 6.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,274,507 shares of the real estate investment trust’s stock worth $30,342,000 after buying an additional 147,119 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Chimera Investment by 20,243.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 145,661 shares of the real estate investment trust’s stock worth $1,943,000 after buying an additional 144,945 shares during the last quarter. 48.44% of the stock is owned by hedge funds and other institutional investors.

About Chimera Investment

Chimera Investment Corporation is a real estate investment trust (REIT) focused on investing in residential mortgage assets. The company seeks to generate income primarily through a portfolio of mortgage loans and mortgage-backed securities, including agency and non-agency residential mortgage-backed securities.

Its investments may include performing and non-performing residential mortgage loans, residential mortgage-backed securities and other mortgage-related assets. Agency securities are generally backed by government-sponsored enterprises or U.S.