Chimera Investment Corporation (CIM) Lifted to Strong-Buy at ValuEngine
ValuEngine upgraded shares of Chimera Investment Corporation (NYSE:CIM) from a buy rating to a strong-buy rating in a report released on Friday.
A number of other research firms have also commented on CIM. BidaskClub raised Chimera Investment Corporation from a hold rating to a buy rating in a research report on Thursday, August 17th. Deutsche Bank AG upped their price target on Chimera Investment Corporation from $19.00 to $20.00 and gave the company a hold rating in a research report on Thursday, August 3rd. Barclays PLC set a $17.00 price target on Chimera Investment Corporation and gave the company a hold rating in a research report on Monday, May 8th. Finally, Zacks Investment Research lowered Chimera Investment Corporation from a hold rating to a sell rating in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Chimera Investment Corporation has a consensus rating of Hold and an average price target of $18.88.
Chimera Investment Corporation (NYSE CIM) opened at 19.16 on Friday. The stock’s 50 day moving average price is $18.86 and its 200-day moving average price is $19.17. Chimera Investment Corporation has a 12 month low of $14.70 and a 12 month high of $20.90. The company has a market capitalization of $3.60 billion, a P/E ratio of 5.51 and a beta of 0.90.
Chimera Investment Corporation (NYSE:CIM) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.63 by $0.03. The company had revenue of $150.70 million for the quarter, compared to analysts’ expectations of $149.75 million. Chimera Investment Corporation had a net margin of 63.94% and a return on equity of 14.27%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. On average, equities research analysts predict that Chimera Investment Corporation will post $2.32 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 29th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 10.44%. The ex-dividend date of this dividend is Thursday, September 28th. Chimera Investment Corporation’s dividend payout ratio (DPR) is presently 57.31%.
A number of hedge funds have recently bought and sold shares of the stock. Utah Retirement Systems increased its position in Chimera Investment Corporation by 0.3% during the 1st quarter. Utah Retirement Systems now owns 34,139 shares of the real estate investment trust’s stock valued at $689,000 after buying an additional 100 shares in the last quarter. IFP Advisors Inc boosted its stake in Chimera Investment Corporation by 0.7% during the 2nd quarter. IFP Advisors Inc now owns 15,646 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 108 shares during the last quarter. Raymond James Trust N.A. boosted its stake in Chimera Investment Corporation by 0.6% during the 2nd quarter. Raymond James Trust N.A. now owns 21,501 shares of the real estate investment trust’s stock valued at $400,000 after purchasing an additional 133 shares during the last quarter. Synovus Financial Corp boosted its stake in Chimera Investment Corporation by 3.3% during the 2nd quarter. Synovus Financial Corp now owns 10,147 shares of the real estate investment trust’s stock valued at $194,000 after purchasing an additional 326 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Chimera Investment Corporation by 5.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,580 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 341 shares during the last quarter. 52.19% of the stock is 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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