Chimera Investment Corp. (CIM) Given Average Rating of “Hold” by Brokerages
Shares of Chimera Investment Corp. (NYSE:CIM) have been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the company. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $16.90.
CIM has been the topic of a number of recent analyst reports. Deutsche Bank AG lifted their target price on Chimera Investment Corp. from $14.50 to $17.50 and gave the stock a “hold” rating in a research note on Tuesday, August 9th. Keefe, Bruyette & Woods boosted their price objective on Chimera Investment Corp. from $14.00 to $15.50 and gave the company a “market perform” rating in a research note on Tuesday, August 9th. Barclays PLC boosted their price objective on Chimera Investment Corp. from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 10th. Nomura restated a “buy” rating and issued a $18.00 price objective (up from $17.00) on shares of Chimera Investment Corp. in a research note on Wednesday, August 10th. Finally, Credit Suisse Group AG restated a “hold” rating and issued a $15.50 price objective on shares of Chimera Investment Corp. in a research note on Friday, September 9th.
In related news, COO Choudhary Yarlagadda bought 2,305 shares of Chimera Investment Corp. stock in a transaction on Friday, September 9th. The stock was 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 directly owns 104,391 shares of the company’s stock, valued at $1,680,695.10. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.62% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Quadrant L P CA bought a new position in Chimera Investment Corp. during the second quarter worth $842,000. Fox Run Management L.L.C. bought a new position in Chimera Investment Corp. during the second quarter worth $195,000. James Investment Research Inc. bought a new position in Chimera Investment Corp. during the second quarter worth $13,726,000. Punch & Associates Investment Management Inc. raised its position in shares of Chimera Investment Corp. by 1.5% in the second quarter. Punch & Associates Investment Management Inc. now owns 447,554 shares of the company’s stock valued at $7,027,000 after buying an additional 6,579 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Chimera Investment Corp. during the second quarter valued at approximately $159,000. 53.98% of the stock is owned by institutional investors and hedge funds.
Chimera Investment Corp. (NYSE:CIM) opened at 16.21 on Thursday. The stock has a 50 day moving average of $15.68 and a 200-day moving average of $15.78. Chimera Investment Corp. has a 12-month low of $10.89 and a 12-month high of $16.98. The company has a market cap of $3.04 billion, a PE ratio of 6.85 and a beta of 0.86.
Chimera Investment Corp. (NYSE:CIM) last released its earnings results on Tuesday, November 1st. The company reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.11. Chimera Investment Corp. had a return on equity of 14.60% and a net margin of 50.90%. During the same quarter in the previous year, the business posted $0.50 EPS. On average, equities research analysts anticipate that Chimera Investment Corp. will post $2.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Friday, December 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 12.34%. The ex-dividend date of this dividend is Wednesday, December 28th. This is a positive change from Chimera Investment Corp.’s previous quarterly dividend of $0.48. Chimera Investment Corp.’s payout ratio is presently 81.36%.
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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