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

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. “

Other equities analysts have also recently issued research reports about the stock. Barclays set a $18.00 price objective on shares of Chimera Investment and gave the company a “hold” rating in a research report on Tuesday, October 10th. ValuEngine upgraded shares of Chimera Investment from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 5th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $18.50 price objective on shares of Chimera Investment in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.83.

Chimera Investment (NYSE CIM) traded down $0.27 during trading on Tuesday, reaching $18.21. 1,420,000 shares of the company’s stock traded hands, compared to its average volume of 926,868. The company has a debt-to-equity ratio of 2.72, a current ratio of 0.02 and a quick ratio of 0.02. The company has a market capitalization of $3,420.00, a P/E ratio of 5.60 and a beta of 0.91. Chimera Investment has a 1-year low of $16.98 and a 1-year high of $20.90.

Chimera Investment (NYSE:CIM) last posted its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. Chimera Investment had a net margin of 58.21% and a return on equity of 13.29%. The business had revenue of $156.46 million during the quarter, compared to the consensus estimate of $150.29 million. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. analysts predict that Chimera Investment will post 2.33 earnings per share for the current year.

In other news, insider Mohit Marria acquired 6,625 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $17.89 per share, for a total transaction of $118,521.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its position in shares of Chimera Investment by 5.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,580 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 341 shares during the period. SG Americas Securities LLC purchased a new position in shares of Chimera Investment during the third quarter valued at about $145,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Chimera Investment by 6.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,354 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 485 shares during the period. Ffcm LLC increased its position in shares of Chimera Investment by 99.8% during the second quarter. Ffcm LLC now owns 9,691 shares of the real estate investment trust’s stock valued at $183,000 after buying an additional 4,840 shares during the period. Finally, Synovus Financial Corp increased its position in shares of Chimera Investment by 3.3% during the second quarter. Synovus Financial Corp now owns 10,147 shares of the real estate investment trust’s stock valued at $194,000 after buying an additional 326 shares during the period. Institutional investors own 50.67% of the company’s stock.

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Chimera Investment 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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