Zacks Investment Research Lowers CHIMERA INVT CO/SH NEW (NYSE:CIM) to Sell

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Zacks Investment Research lowered shares of CHIMERA INVT CO/SH NEW (NYSE:CIM) from a hold rating to a sell rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Chimera Investment Corporation is a publicly traded real estate investment trust, or REIT, that is primarily engaged in real estate finance. It invests, either directly or indirectly through its subsidiaries, in RMBS, residential mortgage loans, Agency CMBS, commercial mortgage loans, real estate-related securities and various other asset classes. The company has elected and is organized and has operated in a manner that enables it to be taxed as a REIT under the Internal Revenue Code. “

NYSE:CIM opened at $19.38 on Monday. CHIMERA INVT CO/SH NEW has a 52 week low of $16.88 and a 52 week high of $19.97. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 8.28 and a beta of 0.59. The firm’s 50-day simple moving average is $19.34 and its 200 day simple moving average is $18.99. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.02 and a current ratio of 0.02.

CHIMERA INVT CO/SH NEW (NYSE:CIM) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). CHIMERA INVT CO/SH NEW had a return on equity of 12.51% and a net margin of 16.96%. The business had revenue of $141.80 million for the quarter, compared to the consensus estimate of $157.07 million. During the same period in the prior year, the business posted $0.59 earnings per share. CHIMERA INVT CO/SH NEW’s revenue was down 2.3% compared to the same quarter last year. Sell-side analysts anticipate that CHIMERA INVT CO/SH NEW will post 2.13 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 10.32%. The ex-dividend date of this dividend is Thursday, September 26th. CHIMERA INVT CO/SH NEW’s dividend payout ratio is 85.47%.

A number of large investors have recently added to or reduced their stakes in CIM. NFC Investments LLC bought a new position in CHIMERA INVT CO/SH NEW during the second quarter worth about $18,440,000. LSV Asset Management increased its position in CHIMERA INVT CO/SH NEW by 22.9% during the second quarter. LSV Asset Management now owns 3,704,310 shares of the real estate investment trust’s stock worth $69,900,000 after acquiring an additional 689,440 shares during the period. Nuveen Asset Management LLC increased its position in CHIMERA INVT CO/SH NEW by 100.0% during the second quarter. Nuveen Asset Management LLC now owns 812,488 shares of the real estate investment trust’s stock worth $15,331,000 after acquiring an additional 406,195 shares during the period. Capital Advisors Inc. OK increased its holdings in CHIMERA INVT CO/SH NEW by 316.9% in the 2nd quarter. Capital Advisors Inc. OK now owns 485,464 shares of the real estate investment trust’s stock valued at $9,161,000 after buying an additional 369,006 shares during the period. Finally, Vanguard Group Inc. increased its holdings in CHIMERA INVT CO/SH NEW by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 17,509,398 shares of the real estate investment trust’s stock valued at $330,402,000 after buying an additional 182,507 shares during the period. 51.98% of the stock is currently owned by institutional investors and hedge funds.

CHIMERA INVT CO/SH NEW Company Profile

Chimera Investment Corporation operates as a real estate investment trust in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency and non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, commercial mortgage loans, and other real estate related securities.

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