Zacks Investment Research downgraded shares of Chimera Investment (NYSE:CIM) from a hold rating to a sell rating in a research report released on Tuesday morning.
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. “
Several other research firms have also recently issued reports on CIM. Barclays set a $18.00 price objective on Chimera Investment and gave the stock a hold rating in a report on Tuesday, October 10th. Keefe, Bruyette & Woods restated a hold rating and set a $18.50 price objective on shares of Chimera Investment in a report on Friday, October 6th. Finally, ValuEngine upgraded Chimera Investment from a buy rating to a strong-buy rating in a report on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Chimera Investment currently has a consensus rating of Hold and a consensus target price of $18.83.
Chimera Investment (NYSE:CIM) last posted its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.62 earnings per share (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 business had revenue of $156.46 million for the quarter, compared to analysts’ expectations of $150.29 million. During the same quarter last year, the firm earned $0.68 earnings per share. The business’s revenue was up .3% on a year-over-year basis. research analysts expect that Chimera Investment will post 2.33 EPS 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 dividend on an annualized basis and a yield of 11.04%. The ex-dividend date is Thursday, December 28th. Chimera Investment’s payout ratio is currently 61.54%.
In other news, insider Mohit Marria bought 6,625 shares of Chimera Investment stock in a transaction that occurred on Monday, November 6th. The shares were purchased at an average price of $17.89 per share, for a total transaction of $118,521.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of CIM. BlackRock Inc. boosted its holdings in Chimera Investment by 6.7% in 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 last quarter. Janus Henderson Group PLC acquired a new position in Chimera Investment in the second quarter valued at $7,516,000. FMR LLC boosted its holdings in Chimera Investment by 34.7% in the second quarter. FMR LLC now owns 1,466,130 shares of the real estate investment trust’s stock valued at $27,314,000 after acquiring an additional 377,925 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Chimera Investment by 7.3% in 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 last quarter. Finally, Citigroup Inc. boosted its holdings in Chimera Investment by 184.2% in the second quarter. Citigroup Inc. now owns 253,933 shares of the real estate investment trust’s stock valued at $4,730,000 after acquiring an additional 164,593 shares during the last quarter. Hedge funds and other institutional investors own 50.67% of the company’s stock.
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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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