Chimera Investment (NYSE:CIM) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Chimera Investment Co. (NYSE:CIM)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.30 and traded as high as $15.65. Chimera Investment shares last traded at $15.57, with a volume of 611,165 shares traded.

Wall Street Analyst Weigh In

Several analysts have commented on CIM shares. StockNews.com cut Chimera Investment from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods boosted their price target on Chimera Investment from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Thursday, August 8th.

Chimera Investment Price Performance

The company has a debt-to-equity ratio of 3.75, a quick ratio of 4.43 and a current ratio of 4.43. The firm has a market capitalization of $1.22 billion, a P/E ratio of 8.88 and a beta of 1.73. The company has a 50-day moving average price of $15.63 and a 200-day moving average price of $14.31.

Chimera Investment (NYSE:CIM) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. Chimera Investment had a return on equity of 7.66% and a net margin of 28.79%. The business had revenue of $186.72 million for the quarter, compared to the consensus estimate of $66.50 million. During the same quarter in the previous year, the business earned $0.36 earnings per share. On average, sell-side analysts predict that Chimera Investment Co. will post 1.5 earnings per share for the current year.

Chimera Investment Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.37 dividend. The ex-dividend date is Monday, September 30th. This is a positive change from Chimera Investment’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 9.81%. Chimera Investment’s dividend payout ratio (DPR) is 87.06%.

Hedge Funds Weigh In On Chimera Investment

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Leeward Investments LLC MA increased its holdings in shares of Chimera Investment by 1.7% in the third quarter. Leeward Investments LLC MA now owns 859,955 shares of the real estate investment trust’s stock worth $13,613,000 after purchasing an additional 14,622 shares during the period. Moloney Securities Asset Management LLC raised its stake in shares of Chimera Investment by 14.1% during the third quarter. Moloney Securities Asset Management LLC now owns 13,913 shares of the real estate investment trust’s stock valued at $220,000 after acquiring an additional 1,719 shares during the last quarter. Cadent Capital Advisors LLC raised its stake in Chimera Investment by 12.9% in the third quarter. Cadent Capital Advisors LLC now owns 266,171 shares of the real estate investment trust’s stock worth $4,213,000 after buying an additional 30,393 shares in the last quarter. Creative Planning bought a new position in Chimera Investment in the third quarter worth about $231,000. Finally, SG Americas Securities LLC bought a new position in shares of Chimera Investment during the third quarter valued at approximately $240,000. Hedge funds and other institutional investors own 48.44% of the company’s stock.

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.