Chimera Investment (NYSE:CIM) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Chimera Investment (NYSE:CIM) from a buy rating to a hold rating in a research report released on Thursday morning.

Separately, Keefe, Bruyette & Woods boosted their price target on shares of Chimera Investment from $15.00 to $16.00 and gave the company a market perform rating in a research note on Thursday, August 8th.

Chimera Investment Stock Performance

Shares of CIM opened at $14.97 on Thursday. The stock has a 50-day moving average of $13.86 and a 200-day moving average of $13.49. Chimera Investment has a one year low of $11.28 and a one year high of $18.78. The company has a debt-to-equity ratio of 3.70, a current ratio of 5.46 and a quick ratio of 5.46. The company has a market cap of $1.20 billion, a PE ratio of 9.78 and a beta of 1.72.

Chimera Investment (NYSE:CIM) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. Chimera Investment had a return on equity of 7.46% and a net margin of 25.73%. The firm had revenue of $186.72 million during the quarter, compared to analysts’ expectations of $66.50 million. During the same quarter last year, the firm posted $0.36 earnings per share. On average, equities research analysts predict that Chimera Investment will post 1.41 EPS for the current fiscal year.

Chimera Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a dividend of $0.35 per share. This is a positive change from Chimera Investment’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 9.35%. The ex-dividend date was Friday, June 28th. Chimera Investment’s payout ratio is currently 91.50%.

Insider Transactions at Chimera Investment

In related news, Director Gerard Creagh purchased 10,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was acquired at an average cost of $13.07 per share, with a total value of $130,700.00. Following the transaction, the director now owns 125,899 shares of the company’s stock, valued at approximately $1,645,499.93. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Chimera Investment

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP lifted its position in shares of Chimera Investment by 1,188.3% during the 2nd quarter. Quarry LP now owns 2,203 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 2,032 shares in the last quarter. Strategic Advisors LLC lifted its holdings in Chimera Investment by 14.2% during the first quarter. Strategic Advisors LLC now owns 20,155 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 2,500 shares during the period. Private Advisor Group LLC boosted its position in Chimera Investment by 23.0% in the fourth quarter. Private Advisor Group LLC now owns 16,421 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 3,066 shares during the last quarter. ProShare Advisors LLC grew its stake in Chimera Investment by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 40,895 shares of the real estate investment trust’s stock valued at $189,000 after purchasing an additional 3,218 shares during the period. Finally, Simplicity Solutions LLC increased its position in shares of Chimera Investment by 32.2% during the 4th quarter. Simplicity Solutions LLC now owns 19,529 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 4,762 shares during the last quarter. 48.44% of the stock is owned by institutional investors.

Chimera Investment Company Profile

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 residential mortgage-backed securities, non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, business purpose and investor loans, and other real estate related securities.