Barclays PLC Analysts Give Chimera Investment Corporation (CIM) a $18.00 Price Target

Barclays PLC set a $18.00 price target on Chimera Investment Corporation (NYSE:CIM) in a research report report published on Tuesday. The firm currently has a hold rating on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the company. BidaskClub raised Chimera Investment Corporation from a hold rating to a buy rating in a research note on Thursday, June 15th. Deutsche Bank AG upped their price target on Chimera Investment Corporation from $19.00 to $20.00 and gave the company a hold rating in a research note on Thursday, August 3rd. Zacks Investment Research raised Chimera Investment Corporation from a strong sell rating to a hold rating in a research note on Tuesday, July 4th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $18.50 price target on shares of Chimera Investment Corporation in a research note on Friday, October 6th. Finally, ValuEngine raised Chimera Investment Corporation from a buy rating to a strong-buy rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $18.83.

Chimera Investment Corporation (NYSE:CIM) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.03). The business had revenue of $150.70 million during the quarter, compared to analyst estimates of $149.75 million. Chimera Investment Corporation had a return on equity of 14.27% and a net margin of 63.94%. Chimera Investment Corporation’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS.

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The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 10.52%. The ex-dividend date is Thursday, September 28th. Chimera Investment Corporation’s dividend payout ratio (DPR) is presently 57.31%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Chimera Investment Corporation by 4.7% during the first quarter. Vanguard Group Inc. now owns 14,556,082 shares of the real estate investment trust’s stock valued at $293,741,000 after acquiring an additional 658,674 shares during the period. BlackRock Inc. lifted its stake in shares of Chimera Investment Corporation by 6.7% during the second quarter. BlackRock Inc. now owns 12,031,752 shares of the real estate investment trust’s stock valued at $224,151,000 after acquiring an additional 758,460 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Chimera Investment Corporation by 7.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,094,299 shares of the real estate investment trust’s stock valued at $57,647,000 after acquiring an additional 211,259 shares during the period. State Street Corp lifted its stake in shares of Chimera Investment Corporation by 0.8% during the second quarter. State Street Corp now owns 2,853,365 shares of the real estate investment trust’s stock valued at $53,155,000 after acquiring an additional 22,781 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Chimera Investment Corporation by 5.2% during the first quarter. Geode Capital Management LLC now owns 2,598,005 shares of the real estate investment trust’s stock valued at $52,427,000 after acquiring an additional 129,234 shares during the period. 52.19% of the stock is currently owned by institutional investors and hedge funds.

About Chimera Investment Corporation

Chimera Investment Corporation is a real estate investment trust (REIT). The company is engaged in the business of investing in a portfolio of mortgage assets, including agency residential mortgage-backed security (RMBS), non-agency RMBS, agency commercial mortgage-backed securities (CMBS), residential mortgage loans and real estate related securities.

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