Chimera Investment Corp. (NYSE:CIM) has been given an average recommendation of “Hold” by the seven analysts that are covering the firm. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $16.58.
CIM has been the subject of a number of recent research reports. Credit Suisse Group AG reissued a “hold” rating and set a $15.50 price target on shares of Chimera Investment Corp. in a research report on Friday, September 9th. Deutsche Bank AG lifted their price target on shares of Chimera Investment Corp. from $14.50 to $17.50 and gave the company a “hold” rating in a research report on Tuesday, August 9th. Zacks Investment Research raised shares of Chimera Investment Corp. from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research report on Thursday, July 14th. Nomura reissued a “buy” rating and set a $17.00 price target on shares of Chimera Investment Corp. in a research report on Tuesday, July 5th. Finally, Barclays PLC lifted their price target on shares of Chimera Investment Corp. from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 10th.
Shares of Chimera Investment Corp. (NYSE:CIM) opened at 14.97 on Thursday. The company’s 50 day moving average is $16.13 and its 200-day moving average is $15.44. Chimera Investment Corp. has a 52 week low of $10.89 and a 52 week high of $16.98. The stock has a market capitalization of $2.81 billion, a PE ratio of 12.73 and a beta of 0.83.
Chimera Investment Corp. (NYSE:CIM) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by $0.02. Chimera Investment Corp. had a net margin of 26.83% and a return on equity of 13.50%. The business had revenue of $137.87 million for the quarter, compared to analysts’ expectations of $134.42 million. During the same period last year, the business earned $0.57 earnings per share. The company’s revenue was down 7.9% on a year-over-year basis. On average, equities analysts predict that Chimera Investment Corp. will post $2.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.92 dividend on an annualized basis and a yield of 12.83%. Chimera Investment Corp.’s dividend payout ratio is currently 160.00%.
In other news, COO Choudhary Yarlagadda acquired 2,305 shares of Chimera Investment Corp. stock in a transaction on Friday, September 9th. The stock was acquired at an average cost of $16.10 per share, for a total transaction of $37,110.50. Following the purchase, the chief operating officer now owns 104,391 shares in the company, valued at $1,680,695.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.62% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC purchased a new stake in Chimera Investment Corp. during the second quarter worth $114,000. Nisa Investment Advisors LLC purchased a new stake in Chimera Investment Corp. during the second quarter worth $159,000. Advisor Group Inc. purchased a new stake in Chimera Investment Corp. during the second quarter worth $159,000. Prudential PLC purchased a new stake in Chimera Investment Corp. during the first quarter worth $160,000. Finally, HighTower Advisors LLC purchased a new stake in Chimera Investment Corp. during the second quarter worth $160,000. Institutional investors and hedge funds own 53.61% of the company’s stock.
Chimera Investment Corp. Company Profile
Chimera Investment Corporation is a real estate investment trust. The Company is primarily engaged in the business of investing, on a leveraged basis, in a diversified portfolio of mortgage assets, including Agency residential mortgage-backed securities (RMBS), Non-Agency RMBS, Agency commercial mortgage backed securities (CMBS), residential mortgage loans and real estate related securities.
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