Chimera Investment Corporation (NYSE:CIM – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $10.05 and last traded at $10.1740, with a volume of 1543940 shares traded. The stock had previously closed at $10.34.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on CIM shares. Royal Bank Of Canada restated a “sector perform” rating and issued a $14.00 price objective on shares of Chimera Investment in a report on Wednesday, June 3rd. Wall Street Zen raised Chimera Investment from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Keefe, Bruyette & Woods cut their price target on Chimera Investment from $15.00 to $14.00 and set a “market perform” rating on the stock in a research note on Thursday, August 6th. Finally, Weiss Ratings lowered Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 18th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Chimera Investment currently has an average rating of “Hold” and a consensus price target of $14.50.
Check Out Our Latest Stock Analysis on Chimera Investment
Chimera Investment Stock Performance
Chimera Investment (NYSE:CIM – Get Free Report) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.46 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.08). The business had revenue of $94.77 million for 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 announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.45 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.80 annualized dividend and a yield of 18.9%. Chimera Investment’s dividend payout ratio is currently -176.47%.
Institutional Trading of Chimera Investment
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Chimera Investment by 9.5% during the 2nd quarter. BlackRock Inc. now owns 7,855,125 shares of the real estate investment trust’s stock valued at $104,787,000 after purchasing an additional 681,996 shares during the period. Thornburg Investment Management Inc. boosted its holdings in Chimera Investment by 5.0% in the 4th quarter. Thornburg Investment Management Inc. now owns 5,268,481 shares of the real estate investment trust’s stock worth $65,487,000 after buying an additional 249,127 shares during the period. First Trust Advisors LP boosted its holdings in Chimera Investment by 82.0% in the 1st quarter. First Trust Advisors LP now owns 543,101 shares of the real estate investment trust’s stock worth $6,816,000 after buying an additional 244,763 shares during the period. Mariner Investment Group LLC increased its stake in Chimera Investment by 152.2% in the 4th quarter. Mariner Investment Group LLC now owns 290,000 shares of the real estate investment trust’s stock worth $3,605,000 after buying an additional 175,000 shares in the last quarter. Finally, State Street Corp increased its stake in Chimera Investment by 7.8% in the 2nd quarter. State Street Corp now owns 2,029,275 shares of the real estate investment trust’s stock worth $27,957,000 after buying an additional 147,629 shares in the last quarter. 48.44% of the stock is currently owned by institutional investors.
About Chimera Investment
Chimera Investment Corporation is a real estate investment trust that invests in residential mortgage assets. The company’s portfolio has historically included residential mortgage-backed securities, residential mortgage loans and other mortgage-related investments, including both agency and non-agency assets.
Chimera seeks to generate income from the interest and cash flows associated with its investments. Its activities are primarily focused on the U.S. residential housing and mortgage markets, and the company may invest in assets with different levels of credit and prepayment risk.
Founded in 2007, Chimera is externally managed and has operated as a mortgage-focused REIT.
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