Chimera Investment (NYSE:CIM) Price Target Raised to $16.00 at Keefe, Bruyette & Woods

Chimera Investment (NYSE:CIM) had its target price raised by stock analysts at Keefe, Bruyette & Woods from $15.00 to $16.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 10.12% from the company’s current price.

Separately, StockNews.com upgraded Chimera Investment from a “hold” rating to a “buy” rating in a report on Wednesday.

Chimera Investment Trading Down 0.5 %

Shares of CIM traded down $0.08 during mid-day trading on Thursday, reaching $14.53. 538,002 shares of the company were exchanged, compared to its average volume of 651,685. Chimera Investment has a 52 week low of $11.28 and a 52 week high of $18.78. The company has a debt-to-equity ratio of 3.70, a quick ratio of 5.46 and a current ratio of 5.46. The stock has a market capitalization of $1.17 billion, a PE ratio of 9.50 and a beta of 1.72. The business has a 50 day simple moving average of $13.59 and a two-hundred day simple moving average of $13.51.

Chimera Investment (NYSE:CIM) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $186.72 million during the quarter, compared to the consensus estimate of $66.50 million. Chimera Investment had a return on equity of 7.46% and a net margin of 25.73%. During the same period in the previous year, the company posted $0.36 earnings per share. On average, analysts predict that Chimera Investment will post 1.41 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gerard Creagh acquired 10,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was purchased at an average price of $13.07 per share, for a total transaction of $130,700.00. Following the completion of the acquisition, the director now directly owns 125,899 shares in the company, valued at approximately $1,645,499.93. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.91% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CIM. Wolverine Asset Management LLC boosted its position in Chimera Investment by 261.9% in the fourth quarter. Wolverine Asset Management LLC now owns 1,141,057 shares of the real estate investment trust’s stock worth $5,694,000 after purchasing an additional 825,743 shares during the last quarter. Onyx Bridge Wealth Group LLC purchased a new position in Chimera Investment in the fourth quarter worth $110,000. Bleakley Financial Group LLC boosted its position in Chimera Investment by 32.2% in the fourth quarter. Bleakley Financial Group LLC now owns 19,529 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 4,762 shares during the last quarter. International Assets Investment Management LLC boosted its position in Chimera Investment by 452.7% in the fourth quarter. International Assets Investment Management LLC now owns 123,852 shares of the real estate investment trust’s stock worth $6,180,000 after purchasing an additional 101,442 shares during the last quarter. Finally, Raymond James & Associates boosted its position in Chimera Investment by 29.4% in the fourth quarter. Raymond James & Associates now owns 59,634 shares of the real estate investment trust’s stock worth $298,000 after purchasing an additional 13,540 shares during the last quarter. Hedge funds and other institutional investors own 48.44% of the company’s stock.

About Chimera Investment

Chimera Investment Corporation operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, business purpose and investor loans, and other real estate related securities.