Chimera Investment (NYSE:CIM) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Chimera Investment Corporation (NYSE:CIM)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.18 and traded as high as $13.18. Chimera Investment shares last traded at $13.0050, with a volume of 736,856 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CIM shares. Wall Street Zen raised shares of Chimera Investment from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Weiss Ratings downgraded shares of Chimera Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $14.00 price objective on shares of Chimera Investment in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.75.

Chimera Investment Stock Performance

The company has a market capitalization of $1.08 billion, a PE ratio of -16.15 and a beta of 1.67. The company has a 50 day moving average of $13.29 and a two-hundred day moving average of $13.19. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.08 and a quick ratio of 0.08.

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

Chimera Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.80 annualized dividend and a dividend yield of 14.0%. Chimera Investment’s dividend payout ratio (DPR) is presently -225.00%.

Hedge Funds Weigh In On Chimera Investment

A number of hedge funds have recently bought and sold shares of CIM. SG Americas Securities LLC bought a new stake in Chimera Investment during the 4th quarter valued at about $7,431,000. UBS Group AG lifted its stake in shares of Chimera Investment by 130.7% in the fourth quarter. UBS Group AG now owns 763,691 shares of the real estate investment trust’s stock worth $9,493,000 after buying an additional 432,727 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Chimera Investment during the fourth quarter valued at approximately $4,977,000. Millennium Management LLC grew its holdings in shares of Chimera Investment by 65.8% during the fourth quarter. Millennium Management LLC now owns 697,620 shares of the real estate investment trust’s stock valued at $8,671,000 after buying an additional 276,950 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Chimera Investment by 88.7% during the third quarter. Two Sigma Investments LP now owns 574,456 shares of the real estate investment trust’s stock valued at $7,594,000 after acquiring an additional 270,034 shares in the last quarter. Institutional investors own 48.44% of the company’s stock.

About Chimera Investment

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.