Chimera Investment Corporation (CIM) Receives Average Recommendation of “Hold” from Brokerages

Shares of Chimera Investment Corporation (NYSE:CIM) have earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $18.83.

A number of brokerages recently issued reports on CIM. Zacks Investment Research downgraded Chimera Investment Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. BidaskClub upgraded Chimera Investment Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Barclays PLC set a $18.00 price objective on Chimera Investment Corporation and gave the stock a “hold” rating in a research report on Tuesday. ValuEngine upgraded Chimera Investment Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, Deutsche Bank AG increased their price objective on Chimera Investment Corporation from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its stake in shares of Chimera Investment Corporation by 5.0% in the second quarter. Public Employees Retirement System of Ohio now owns 115,048 shares of the real estate investment trust’s stock worth $2,143,000 after purchasing an additional 5,482 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Chimera Investment Corporation by 160.6% in the second quarter. Sterling Capital Management LLC now owns 109,062 shares of the real estate investment trust’s stock worth $2,032,000 after purchasing an additional 67,206 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Chimera Investment Corporation by 7.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 68,461 shares of the real estate investment trust’s stock worth $1,275,000 after purchasing an additional 4,621 shares during the last quarter. NFC Investments LLC grew its stake in shares of Chimera Investment Corporation by 1.4% in the second quarter. NFC Investments LLC now owns 862,516 shares of the real estate investment trust’s stock worth $16,069,000 after purchasing an additional 11,630 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Chimera Investment Corporation by 5.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,580 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 341 shares during the last quarter. 52.19% of the stock is currently owned by institutional investors.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 29th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 annualized dividend and a dividend yield of 10.52%. Chimera Investment Corporation’s payout ratio is presently 57.31%.

Chimera Investment Corporation Company Profile

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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