Analysts Set Chimera Investment Corp. (NYSE:CIM) Price Target at $16.58
Chimera Investment Corp. (NYSE:CIM) has received a consensus rating of “Hold” from the seven research firms that are currently covering the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $16.58.
Several analysts have commented on CIM shares. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $15.50 price objective on shares of Chimera Investment Corp. in a research report on Friday, September 9th. Deutsche Bank AG lifted their price objective on shares of Chimera Investment Corp. from $14.50 to $17.50 and gave the stock a “hold” rating in a research report on Tuesday, August 9th. Zacks Investment Research raised shares of Chimera Investment Corp. from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective on the stock in a research report on Thursday, July 14th. Nomura reissued a “buy” rating and issued a $17.00 price target on shares of Chimera Investment Corp. in a research report on Tuesday, July 5th. Finally, Barclays PLC boosted their price target on shares of Chimera Investment Corp. from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 10th.
Shares of Chimera Investment Corp. (NYSE:CIM) opened at 14.86 on Thursday. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 12.64 and a beta of 0.83. Chimera Investment Corp. has a 12 month low of $10.89 and a 12 month high of $16.98. The firm has a 50-day moving average of $16.17 and a 200-day moving average of $15.40.
Chimera Investment Corp. (NYSE:CIM) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.53 by $0.02. The company earned $137.87 million during the quarter, compared to the consensus estimate of $134.42 million. Chimera Investment Corp. had a return on equity of 13.50% and a net margin of 26.83%. The business’s revenue was down 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. On average, analysts anticipate that Chimera Investment Corp. will post $2.23 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 27th. Investors of record on Friday, September 30th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 12.92%. The ex-dividend date is Wednesday, September 28th. Chimera Investment Corp.’s dividend payout ratio (DPR) is presently 160.00%.
In other news, COO Choudhary Yarlagadda bought 2,305 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were acquired at an average price of $16.10 per share, with a total value of $37,110.50. Following the acquisition, the chief operating officer now owns 104,391 shares of the company’s stock, valued at approximately $1,680,695.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.62% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CIM. Acrospire Investment Management LLC purchased a new stake in Chimera Investment Corp. during the second quarter worth $114,000. Nisa Investment Advisors LLC purchased a new stake in Chimera Investment Corp. during the second quarter worth $159,000. Advisor Group Inc. purchased a new stake in Chimera Investment Corp. during the second quarter worth $159,000. Prudential PLC purchased a new stake in Chimera Investment Corp. during the first quarter worth $160,000. Finally, HighTower Advisors LLC purchased a new stake in Chimera Investment Corp. during the second quarter worth $160,000. 53.61% of the stock is currently owned by institutional investors and hedge funds.
About Chimera Investment Corp.
Chimera Investment Corporation is a real estate investment trust. The Company is primarily engaged in the business of investing, on a leveraged basis, in a diversified portfolio of mortgage assets, including Agency residential mortgage-backed securities (RMBS), Non-Agency RMBS, Agency commercial mortgage backed securities (CMBS), residential mortgage loans and real estate related securities.
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