Chimera Investment (NYSE:CIM) Shares Pass Above 200 Day Moving Average – Time to Sell?

Chimera Investment Corporation (NYSE:CIM)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.10 and traded as high as $13.40. Chimera Investment shares last traded at $13.2440, with a volume of 596,251 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Royal Bank Of Canada restated a “sector perform” rating and issued a $14.00 target price on shares of Chimera Investment in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of Chimera Investment from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings lowered shares of Chimera Investment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.83.

Chimera Investment Stock Performance

The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a 50 day moving average price of $13.37 and a two-hundred day moving average price of $13.11. The company has a market capitalization of $1.12 billion, a P/E ratio of -16.69 and a beta of 1.68.

Chimera Investment (NYSE:CIM) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. Chimera Investment had a return on equity of 9.36% and a net margin of 2.27%.The business had revenue of $32.37 million for the quarter, compared to analyst estimates of $102.35 million.

Chimera Investment Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a $0.45 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.80 dividend on an annualized basis and a yield of 13.5%. Chimera Investment’s payout ratio is -225.00%.

Institutional Trading of Chimera Investment

Hedge funds have recently modified their holdings of the company. VSM Wealth Advisory LLC boosted its holdings in shares of Chimera Investment by 64.3% in the 3rd quarter. VSM Wealth Advisory LLC now owns 2,391 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 936 shares in the last quarter. GAMMA Investing LLC raised its position in Chimera Investment by 864.7% in the 4th quarter. GAMMA Investing LLC now owns 3,193 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 2,862 shares during the last quarter. IFP Advisors Inc raised its position in Chimera Investment by 1,211.4% in the 4th quarter. IFP Advisors Inc now owns 6,216 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 5,742 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Chimera Investment by 92.1% in the second quarter. Tower Research Capital LLC TRC now owns 7,140 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 3,423 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Chimera Investment in the fourth quarter worth $105,000. Institutional investors and hedge funds own 48.44% of the company’s stock.

Chimera Investment Company Profile

Chimera Investment Corporation (NYSE: CIM) is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company’s portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.

The firm’s core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.