Chimera Investment (NYSE:CIM) Sets New 52-Week Low – Time to Sell?

Chimera Investment Corporation (NYSE:CIM) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $11.28 and last traded at $11.3450, with a volume of 64666 shares traded. The stock had previously closed at $11.50.

Analyst Ratings Changes

Several research analysts have issued reports on CIM shares. Weiss Ratings upgraded Chimera Investment from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $14.00 price target on shares of Chimera Investment in a report on Wednesday, June 3rd. Keefe, Bruyette & Woods dropped their price objective on Chimera Investment from $15.00 to $14.00 and set a “market perform” rating for the company in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded Chimera Investment from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Chimera Investment has an average rating of “Hold” and an average price target of $14.50.

Chimera Investment Trading Down 1.4%

The company has a market capitalization of $948.85 million, a PE ratio of -11.11 and a beta of 1.66. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.07 and a quick ratio of 0.07. The company’s fifty day moving average is $12.22 and its 200-day moving average is $12.93.

Chimera Investment (NYSE:CIM) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). The company had revenue of $94.77 million for the quarter, compared to analysts’ expectations of $95.30 million. Chimera Investment had a return on equity of 9.82% and a net margin of 0.14%.

Institutional Investors Weigh In On Chimera Investment

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in Chimera Investment by 9.5% during the second quarter. BlackRock Inc. now owns 7,855,125 shares of the real estate investment trust’s stock valued at $104,787,000 after purchasing an additional 681,996 shares in the last quarter. Vanguard Group Inc. raised its holdings in Chimera Investment by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 7,651,505 shares of the real estate investment trust’s stock worth $95,108,000 after purchasing an additional 208,112 shares in the last quarter. Thornburg Investment Management Inc. raised its holdings in Chimera Investment by 0.7% in the second quarter. Thornburg Investment Management Inc. now owns 5,511,923 shares of the real estate investment trust’s stock worth $73,529,000 after purchasing an additional 35,621 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of Chimera Investment by 6.9% during the second quarter. Allianz Asset Management GmbH now owns 2,274,507 shares of the real estate investment trust’s stock valued at $30,342,000 after buying an additional 147,119 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Chimera Investment by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,975,021 shares of the real estate investment trust’s stock valued at $24,554,000 after buying an additional 43,419 shares during the last quarter. 48.44% of the stock is currently owned by hedge funds and other institutional investors.

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.