StockNews.com Begins Coverage on Chimera Investment (NYSE:CIM)

StockNews.com began coverage on shares of Chimera Investment (NYSE:CIM – Get Rating) in a research note issued to investors on Thursday. The brokerage issued a hold rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently commented on the company. Royal Bank of Canada reissued an outperform rating and issued a $7.00 price objective on shares of Chimera Investment in a research note on Tuesday, March 7th. Credit Suisse Group reissued a neutral rating and issued a $6.50 price objective on shares of Chimera Investment in a research note on Thursday, March 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $7.50.

Chimera Investment Trading Down 3.7 %

NYSE CIM opened at $5.22 on Thursday. The business has a 50 day simple moving average of $6.60 and a 200 day simple moving average of $6.54. Chimera Investment has a one year low of $4.91 and a one year high of $12.73. The stock has a market capitalization of $1.21 billion, a P/E ratio of -2.10 and a beta of 1.51. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.09 and a quick ratio of 0.09.

Chimera Investment (NYSE:CIM – Get Rating) last released its earnings results on Wednesday, February 15th. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). Chimera Investment had a positive return on equity of 11.35% and a negative net margin of 66.36%. The business had revenue of $187.29 million for the quarter, compared to analyst estimates of $97.90 million. During the same period in the prior year, the business earned $0.46 EPS. Research analysts expect that Chimera Investment will post 0.78 earnings per share for the current year.

Chimera Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 27th. Stockholders of record on Friday, March 31st will be issued a $0.23 dividend. The ex-dividend date is Thursday, March 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 17.62%. Chimera Investment’s dividend payout ratio is presently -36.95%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Private Trust Co. NA bought a new position in shares of Chimera Investment in the second quarter valued at approximately $25,000. Worth Asset Management LLC bought a new position in shares of Chimera Investment in the first quarter valued at approximately $30,000. Investors Asset Management of Georgia Inc. GA ADV bought a new position in shares of Chimera Investment in the third quarter valued at approximately $26,000. Hexagon Capital Partners LLC bought a new position in shares of Chimera Investment in the fourth quarter valued at approximately $36,000. Finally, CWM LLC lifted its holdings in shares of Chimera Investment by 67.7% in the fourth quarter. CWM LLC now owns 8,968 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 3,621 shares in the last quarter. Institutional investors own 47.06% of the company’s stock.

About Chimera Investment

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Chimera Investment Corp. is a real estate investment trust, which engages in the business of investing in a portfolio of mortgage assets, including residential mortgage loans, Agency RMBS, Non-Agency RMBS, Agency CMBS, and other real estate-related assets. The company was founded on June 1, 2007 and is headquartered in New York, NY.