UBS Group Upgrades Chimera Investment (NYSE:CIM) to Buy

Chimera Investment (NYSE:CIM) was upgraded by UBS Group from a “neutral” rating to a “buy” rating in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $15.00 price target on the real estate investment trust’s stock, up from their prior price target of $11.50. UBS Group’s price target would suggest a potential upside of 7.37% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. JMP Securities reissued a “market perform” rating on shares of Chimera Investment in a research report on Thursday, January 23rd. Royal Bank of Canada raised Chimera Investment to a “moderate buy” rating in a research report on Friday, March 14th. Finally, StockNews.com downgraded Chimera Investment from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Chimera Investment Stock Performance

NYSE CIM opened at $13.97 on Wednesday. The company has a market cap of $1.13 billion, a P/E ratio of 12.93 and a beta of 1.76. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.06 and a quick ratio of 3.03. The stock has a 50-day moving average of $12.36 and a two-hundred day moving average of $13.76. Chimera Investment has a 1-year low of $9.85 and a 1-year high of $16.89.

Chimera Investment (NYSE:CIM) last released its earnings results on Thursday, May 8th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. Chimera Investment had a return on equity of 7.00% and a net margin of 20.28%. The company had revenue of $69.22 million during the quarter, compared to the consensus estimate of $72.07 million. As a group, analysts anticipate that Chimera Investment will post 1.57 EPS for the current year.

Insider Activity at Chimera Investment

In other Chimera Investment news, Director Gerard Creagh purchased 12,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $13.31 per share, with a total value of $166,375.00. Following the completion of the acquisition, the director now directly owns 138,127 shares of the company’s stock, valued at $1,838,470.37. This trade represents a 9.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chimera Investment

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP boosted its holdings in Chimera Investment by 1,691.7% in the fourth quarter. Quarry LP now owns 3,243 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 3,062 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Chimera Investment by 8,728.6% in the first quarter. GAMMA Investing LLC now owns 3,708 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 3,666 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Chimera Investment in the fourth quarter valued at approximately $56,000. Hillsdale Investment Management Inc. acquired a new position in Chimera Investment in the fourth quarter valued at approximately $65,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Chimera Investment in the fourth quarter valued at approximately $111,000. 48.44% of the stock is owned by institutional investors and hedge funds.

About Chimera Investment

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.