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

Chimera Investment Corporation (NYSE:CIM) has been given a consensus rating of “Hold” by the six ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $18.50.

A number of research firms have commented on CIM. ValuEngine upgraded shares of Chimera Investment Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. BidaskClub upgraded shares of Chimera Investment Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Zacks Investment Research cut shares of Chimera Investment Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Finally, Deutsche Bank AG raised their target price on shares of Chimera Investment Corporation from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd.

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Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its position in shares of Chimera Investment Corporation by 5.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,580 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 341 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Chimera Investment Corporation by 80.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,869 shares of the real estate investment trust’s stock valued at $159,000 after buying an additional 3,519 shares during the last quarter. Ffcm LLC raised its position in shares of Chimera Investment Corporation by 99.8% during the second 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 during the last quarter. Snow Capital Management LP bought a new stake in shares of Chimera Investment Corporation during the first quarter valued at approximately $201,000. Finally, Synovus Financial Corp raised its position in shares of Chimera Investment Corporation by 3.3% during the second 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 during the last quarter. Hedge funds and other institutional investors own 52.19% of the company’s stock.

Chimera Investment Corporation (NYSE:CIM) traded down 0.31% during trading on Wednesday, reaching $19.00. 813,934 shares of the company’s stock were exchanged. The company has a market cap of $3.57 billion, a P/E ratio of 5.46 and a beta of 0.90. The stock’s 50-day moving average is $18.92 and its 200-day moving average is $19.18. Chimera Investment Corporation has a 12-month low of $14.70 and a 12-month high of $20.90.

Chimera Investment Corporation (NYSE:CIM) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.60 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $150.70 million for the quarter, compared to the consensus estimate of $149.75 million. During the same quarter in the previous year, the business posted $0.51 EPS. Chimera Investment Corporation’s revenue was up 9.3% on a year-over-year basis. Analysts predict that Chimera Investment Corporation will post $2.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 10.53%. The ex-dividend date is Thursday, September 28th. Chimera Investment Corporation’s payout ratio is currently 57.31%.

About Chimera Investment Corporation

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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