Royal Bank Of Canada Has Lowered Expectations for Chimera Investment (NYSE:CIM) Stock Price

Chimera Investment (NYSE:CIM) had its price target decreased by equities researchers at Royal Bank Of Canada from $13.00 to $7.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank Of Canada‘s target price suggests a potential upside of 6.01% from the stock’s previous close.

Several other research analysts also recently commented on CIM. Keefe, Bruyette & Woods reduced their price objective on Chimera Investment from $13.00 to $11.50 and set a “market perform” rating on the stock in a report on Monday, November 9th. Weiss Ratings lowered Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 18th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $11.33.

Chimera Investment Trading Down 0.4%

Shares of NYSE:CIM traded down $0.03 during trading on Friday, reaching $6.60. 2,332,381 shares of the company were exchanged, compared to its average volume of 1,719,308. The firm has a market capitalization of $552.74 million, a PE ratio of -2.16 and a beta of 1.75. The business’s fifty day simple moving average is $9.22 and its 200-day simple moving average is $12.02. Chimera Investment has a 12-month low of $6.37 and a 12-month high of $14.18. The company has a debt-to-equity ratio of 2.46, a current ratio of 0.05 and a quick ratio of 0.07.

Chimera Investment (NYSE:CIM) last posted its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.07). The company had revenue of ($118.00) million for the quarter, compared to the consensus estimate of $103.10 million. Chimera Investment had a negative net margin of 19.11% and a positive return on equity of 10.31%.

Institutional Investors Weigh In On Chimera Investment

Large investors have recently modified their holdings of the business. Nykredit A S bought a new position in shares of Chimera Investment during the second quarter valued at approximately $29,000. Steward Partners Investment Advisory LLC increased its holdings in Chimera Investment by 13,787.5% during the third quarter. Steward Partners Investment Advisory LLC now owns 3,333 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 3,309 shares during the period. Integrated Wealth Concepts LLC bought a new position in Chimera Investment in the second quarter worth approximately $46,000. Public Employees Retirement System of Ohio bought a new position in Chimera Investment in the second quarter worth approximately $60,000. Finally, Global Retirement Partners LLC bought a new position in Chimera Investment in the second quarter worth approximately $79,000. Institutional investors own 48.44% of the company’s stock.

Chimera Investment Company Profile

Chimera Investment Corporation is a real estate investment trust (REIT) focused on residential mortgage-related assets. Its investments include residential mortgage loans and residential mortgage-backed securities, as well as commercial mortgage loans and other real estate-related assets. The company seeks to generate income from these assets and may hold them directly or through securitized investments. Its activities are tied primarily to the U.S. mortgage and housing markets. Founded in 2007, Chimera is headquartered in New York.