Chimera Investment Corporation (NYSE:CIM – Get Free Report) reached a new 52-week low on Tuesday . The company traded as low as $11.41 and last traded at $11.47, with a volume of 615342 shares trading hands. The stock had previously closed at $11.50.
Wall Street Analysts Forecast Growth
CIM has been the topic of a number of recent research reports. Wall Street Zen upgraded Chimera Investment from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Keefe, Bruyette & Woods reduced their price target on Chimera Investment from $15.00 to $14.00 and set a “market perform” rating for the company in a research report on Thursday, August 6th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $14.00 price target on shares of Chimera Investment in a report on Wednesday, June 3rd. Finally, Weiss Ratings upgraded Chimera Investment from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chimera Investment currently has an average rating of “Hold” and an average target price of $14.50.
Check Out Our Latest Stock Analysis on Chimera Investment
Chimera Investment Stock Up 1.6%
Chimera Investment (NYSE:CIM – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). The business had revenue of $94.77 million during the quarter, compared to analysts’ expectations of $95.30 million. Chimera Investment had a net margin of 0.14% and a return on equity of 9.82%.
Chimera Investment Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were paid a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.80 dividend on an annualized basis and a yield of 15.7%. Chimera Investment’s dividend payout ratio (DPR) is currently -176.47%.
Institutional Investors Weigh In On Chimera Investment
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nykredit A S purchased a new position in Chimera Investment during the second quarter valued at $29,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Chimera Investment in the second quarter valued at about $60,000. IFP Advisors Inc increased its stake in shares of Chimera Investment by 1,211.4% during the fourth quarter. IFP Advisors Inc now owns 6,216 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 5,742 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Chimera Investment during the second quarter worth about $79,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Chimera Investment by 92.1% during the second quarter. Tower Research Capital LLC TRC now owns 7,140 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 3,423 shares in the last quarter. Hedge funds and other institutional investors own 48.44% of the company’s stock.
About Chimera Investment
Chimera Investment Corporation (NYSE: CIM) is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company’s portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.
The firm’s core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.
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