Chimera Investment (NYSE:CIM) Hits New 1-Year Low After Earnings Miss

Chimera Investment Corporation (NYSE:CIM)’s share price hit a new 52-week low on Wednesday following a dissappointing earnings announcement. The stock traded as low as $11.64 and last traded at $11.68, with a volume of 340577 shares trading hands. The stock had previously closed at $12.66.

The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). Chimera Investment had a net margin of 2.27% and a return on equity of 9.36%. The business had revenue of $94.77 million during the quarter, compared to analysts’ expectations of $95.30 million.

Chimera Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 15.6%. The ex-dividend date was Tuesday, June 30th. Chimera Investment’s dividend payout ratio is presently -225.00%.

Analysts Set New Price Targets

Several research analysts have recently commented on CIM shares. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $14.00 price objective on shares of Chimera Investment in a report on Wednesday, June 3rd. Wall Street Zen upgraded Chimera Investment from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Finally, Weiss Ratings lowered Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Chimera Investment has a consensus rating of “Hold” and a consensus target price of $14.75.

Institutional Investors Weigh In On Chimera Investment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CIM. IFP Advisors Inc boosted its position in Chimera Investment by 1,211.4% during the 4th quarter. IFP Advisors Inc now owns 6,216 shares of the real estate investment trust’s stock valued at $77,000 after buying an additional 5,742 shares during the period. Tower Research Capital LLC TRC increased its position in shares of 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 valued at $99,000 after acquiring an additional 3,423 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Chimera Investment during the fourth quarter valued at about $105,000. BNP Paribas Financial Markets raised its stake in shares of Chimera Investment by 59.2% during the second quarter. BNP Paribas Financial Markets now owns 7,686 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 2,857 shares during the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Chimera Investment during the fourth quarter valued at about $129,000. 48.44% of the stock is currently owned by institutional investors.

Chimera Investment Trading Down 8.8%

The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 2.31. The stock’s fifty day moving average price is $13.11 and its two-hundred day moving average price is $13.17. The company has a market capitalization of $965.32 million, a PE ratio of -14.42 and a beta of 1.67.

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.