Chimera Investment Corporation (NYSE:CIM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

According to Zacks, “Chimera Investment Corporation is a publicly traded real estate investment trust, or REIT, that is primarily engaged in real estate finance. It invests, either directly or indirectly through its subsidiaries, in RMBS, residential mortgage loans, Agency CMBS, commercial mortgage loans, real estate-related securities and various other asset classes. The company has elected and is organized and has operated in a manner that enables it to be taxed as a REIT under the Internal Revenue Code. “

Several other research analysts have also recently weighed in on the stock. Deutsche Bank AG increased their price target on shares of Chimera Investment Corporation from $19.00 to $20.00 and gave the company a “hold” rating in a report on Thursday. BidaskClub cut shares of Chimera Investment Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine raised shares of Chimera Investment Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 3rd. Finally, Barclays PLC set a $17.00 price target on shares of Chimera Investment Corporation and gave the company a “hold” rating in a report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Chimera Investment Corporation presently has an average rating of “Hold” and an average price target of $18.17.

Shares of Chimera Investment Corporation (CIM) traded up 0.69% during trading on Friday, reaching $18.84. The company had a trading volume of 966,307 shares. Chimera Investment Corporation has a 12 month low of $14.70 and a 12 month high of $20.90. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 5.42 and a beta of 0.94. The firm has a 50 day moving average price of $18.91 and a 200 day moving average price of $19.00.

Chimera Investment Corporation (NYSE:CIM) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by $0.03. The company had revenue of $150.70 million during the quarter, compared to the consensus estimate of $149.75 million. Chimera Investment Corporation had a net margin of 63.94% and a return on equity of 14.66%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share. Analysts predict that Chimera Investment Corporation will post $2.34 earnings per share for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Chimera Investment Corporation by 80.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,869 shares of the real estate investment trust’s stock valued at $159,000 after buying an additional 3,519 shares in the last quarter. Sit Investment Associates Inc. boosted its position in shares of Chimera Investment Corporation by 143.6% in the first quarter. Sit Investment Associates Inc. now owns 9,500 shares of the real estate investment trust’s stock valued at $192,000 after buying an additional 5,600 shares in the last quarter. Snow Capital Management LP acquired a new position in shares of Chimera Investment Corporation during the first quarter valued at approximately $201,000. Winslow Evans & Crocker Inc. acquired a new position in shares of Chimera Investment Corporation during the second quarter valued at approximately $189,000. Finally, National Asset Management Inc. acquired a new position in shares of Chimera Investment Corporation during the first quarter valued at approximately $217,000. 55.30% of the stock is currently owned by institutional investors.

Chimera Investment Corporation Company Profile

Chimera Investment Corporation is a real estate investment trust (REIT). The company is engaged in the business of investing in a portfolio of mortgage assets, including agency residential mortgage-backed security (RMBS), non-agency RMBS, agency commercial mortgage-backed securities (CMBS), residential mortgage loans and real estate related securities.

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Analyst Recommendations for Chimera Investment Corporation (NYSE:CIM)

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