Chimera Investment (NYSE:CIM) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Chimera Investment (NYSE:CIM – Get Rating) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.06), Briefing.com reports. The company had revenue of $116.89 million for the quarter, compared to the consensus estimate of $131.19 million. Chimera Investment had a negative net margin of 8.93% and a positive return on equity of 12.47%. The company’s revenue for the quarter was down 32.1% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share.

Chimera Investment Trading Up 0.4 %

CIM traded up $0.04 during trading on Friday, reaching $9.30. 1,687,774 shares of the company’s stock were exchanged, compared to its average volume of 1,979,739. The firm has a fifty day moving average price of $9.30 and a two-hundred day moving average price of $10.92. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 3.45. Chimera Investment has a one year low of $7.72 and a one year high of $16.85. The stock has a market capitalization of $2.20 billion, a PE ratio of -14.31 and a beta of 1.05.

Institutional Investors Weigh In On Chimera Investment

Institutional investors have recently modified their holdings of the company. Worth Asset Management LLC bought a new stake in shares of Chimera Investment in the 1st quarter valued at $30,000. American Century Companies Inc. bought a new stake in shares of Chimera Investment in the 1st quarter valued at $132,000. Prelude Capital Management LLC bought a new stake in shares of Chimera Investment in the 1st quarter valued at $135,000. IHT Wealth Management LLC bought a new stake in shares of Chimera Investment in the 1st quarter valued at $156,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Chimera Investment by 31.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 13,203 shares of the real estate investment trust’s stock valued at $159,000 after purchasing an additional 3,139 shares during the last quarter. 53.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CIM shares. Credit Suisse Group reduced their target price on shares of Chimera Investment to $9.50 in a report on Friday, July 22nd. Barclays reduced their target price on shares of Chimera Investment from $11.00 to $9.00 and set an “underweight” rating on the stock in a report on Monday, July 18th.

Chimera Investment Company Profile

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Chimera Investment Corporation operates as a real estate investment trust (REIT) 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 residential, commercial mortgage loans, and other real estate related securities.