Chimera Investment Co. (CIM) Given Consensus Rating of “Hold” by Brokerages

Chimera Investment Co. (NYSE:CIM) has earned an average recommendation of “Hold” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $18.83.

CIM has been the topic of several recent research reports. Barclays set a $18.00 price objective on Chimera Investment and gave the stock a “hold” rating in a research note on Tuesday, October 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $18.50 target price on shares of Chimera Investment in a research report on Friday, October 6th. Finally, ValuEngine upgraded Chimera Investment from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 5th.

In related news, insider Mohit Marria acquired 6,625 shares of the stock in a transaction dated Monday, November 6th. The stock was acquired at an average cost of $17.89 per share, with a total value of $118,521.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.65% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Trust N.A. raised its position in Chimera Investment by 0.6% during the 2nd quarter. Raymond James Trust N.A. now owns 21,501 shares of the real estate investment trust’s stock valued at $400,000 after purchasing an additional 133 shares in the last quarter. Utah Retirement Systems increased its holdings in shares of Chimera Investment by 0.4% in the 2nd quarter. Utah Retirement Systems now owns 34,290 shares of the real estate investment trust’s stock valued at $638,000 after acquiring an additional 151 shares during the period. Synovus Financial Corp increased its holdings in shares of Chimera Investment by 3.3% in the 2nd quarter. Synovus Financial Corp now owns 10,147 shares of the real estate investment trust’s stock valued at $194,000 after acquiring an additional 326 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of 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 valued at $123,000 after acquiring an additional 341 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 worth $156,000 after buying an additional 485 shares during the last quarter. 50.67% of the stock is owned by institutional investors and hedge funds.

Chimera Investment (CIM) traded up $0.20 during mid-day trading on Friday, reaching $18.99. The company’s stock had a trading volume of 1,172,400 shares, compared to its average volume of 1,302,169. Chimera Investment has a 52 week low of $16.70 and a 52 week high of $20.90. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.02 and a current ratio of 0.02. The company has a market capitalization of $3,528.41, a P/E ratio of 7.89 and a beta of 0.85.

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

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 10.53%. The ex-dividend date of this dividend is Thursday, December 28th. Chimera Investment’s payout ratio is 61.35%.

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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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