StockNews.com Lowers Chimera Investment (NYSE:CIM) to Hold

StockNews.com lowered shares of Chimera Investment (NYSE:CIM) from a buy rating to a hold rating in a report released on Thursday.

Separately, Keefe, Bruyette & Woods upped their target price on Chimera Investment from $15.00 to $16.00 and gave the company a market perform rating in a research report on Thursday, August 8th.

Chimera Investment Stock Performance

Shares of Chimera Investment stock opened at $14.97 on Thursday. Chimera Investment has a one year low of $11.28 and a one year high of $18.78. The company has a market capitalization of $1.20 billion, a PE ratio of 9.78 and a beta of 1.72. 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 company has a 50-day simple moving average of $13.86 and a two-hundred day simple moving average of $13.49.

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

Chimera Investment Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were paid a dividend of $0.35 per share. This is a positive change from Chimera Investment’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 9.35%. Chimera Investment’s dividend payout ratio is presently 91.50%.

Insider Transactions at Chimera Investment

In other news, Director Gerard Creagh bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were purchased at an average cost of $13.07 per share, with a total value of $130,700.00. Following the transaction, the director now directly owns 125,899 shares in the company, valued at $1,645,499.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.91% of the company’s stock.

Institutional Trading of Chimera Investment

Large investors have recently added to or reduced their stakes in the company. Raymond James & Associates lifted its holdings in shares of Chimera Investment by 29.4% during 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 period. Simplicity Solutions LLC boosted its holdings in shares of Chimera Investment by 32.2% in the 4th quarter. Simplicity Solutions LLC now owns 19,529 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 4,762 shares during the last quarter. Onyx Bridge Wealth Group LLC purchased a new stake in shares of Chimera Investment in the 4th quarter valued at $110,000. Dupree Financial Group LLC acquired a new stake in shares of Chimera Investment in the fourth quarter worth $58,000. Finally, Wolverine Asset Management LLC raised its holdings in shares of Chimera Investment by 261.9% during 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. 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.