Chimera Investment (CIM) Upgraded to “Strong-Buy” by ValuEngine

ValuEngine upgraded shares of Chimera Investment (NYSE:CIM) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday morning.

Several other brokerages have also recently weighed in on CIM. BidaskClub upgraded shares of Chimera Investment from a hold rating to a buy rating in a research note on Thursday, August 17th. Barclays set a $18.00 price objective on shares of Chimera Investment and gave the stock a hold rating in a research note on Tuesday, October 10th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and issued a $18.50 price objective on shares of Chimera Investment in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $18.83.

Chimera Investment (NYSE:CIM) traded up $0.09 on Tuesday, reaching $18.73. 761,400 shares of the company’s stock traded hands, compared to its average volume of 1,319,055. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 2.72. The company has a market cap of $3,500.24, a PE ratio of 7.83 and a beta of 0.85. Chimera Investment has a 1-year low of $16.43 and a 1-year high of $20.90.

Chimera Investment (NYSE:CIM) last issued its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.05. Chimera Investment had a net margin of 58.21% and a return on equity of 13.29%. The firm had revenue of $156.46 million for the quarter, compared to analysts’ expectations of $150.29 million. During the same quarter in the prior year, the business earned $0.68 EPS. The business’s quarterly revenue was up .3% on a year-over-year basis. research analysts forecast that Chimera Investment will post 2.33 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 29th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 10.68%. The ex-dividend date is Thursday, December 28th. Chimera Investment’s dividend payout ratio is 61.35%.

In other news, insider Mohit Marria bought 6,625 shares of Chimera Investment stock in a transaction that occurred on Monday, November 6th. The stock was bought at an average cost of $17.89 per share, with a total value of $118,521.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.65% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its holdings in Chimera Investment by 5.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,580 shares of the real estate investment trust’s stock worth $123,000 after acquiring an additional 341 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Chimera Investment in the 3rd quarter worth approximately $145,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Chimera Investment by 6.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,354 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 485 shares in the last quarter. Ffcm LLC grew its holdings in Chimera Investment by 99.8% during the 2nd quarter. Ffcm LLC now owns 9,691 shares of the real estate investment trust’s stock valued at $183,000 after buying an additional 4,840 shares in the last quarter. Finally, Synovus Financial Corp grew its holdings in Chimera Investment by 3.3% during the 2nd quarter. Synovus Financial Corp now owns 10,147 shares of the real estate investment trust’s stock valued at $194,000 after buying an additional 326 shares in the last quarter. 50.73% of the stock is owned by institutional investors.

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About Chimera Investment

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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