Chimera Investment (NYSE:CIM) Downgraded by StockNews.com

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

Separately, Keefe, Bruyette & Woods increased their target price on shares of Chimera Investment from $15.00 to $16.00 and gave the stock a market perform rating in a research note on Thursday, August 8th.

Chimera Investment Stock Performance

Shares of CIM stock opened at $14.97 on Thursday. The stock has a market capitalization of $1.20 billion, a P/E ratio of 9.78 and a beta of 1.72. The company has a current ratio of 5.46, a quick ratio of 5.46 and a debt-to-equity ratio of 3.70. The firm’s 50 day moving average is $13.86 and its 200 day moving average is $13.51. Chimera Investment has a 12 month low of $11.28 and a 12 month high of $18.78.

Chimera Investment (NYSE:CIM) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $66.50 million. During the same period in the prior year, the company posted $0.36 EPS. On average, sell-side analysts anticipate that Chimera Investment will post 1.41 earnings per share for the current year.

Chimera Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were given a dividend of $0.35 per share. The ex-dividend date was Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 9.35%. This is a boost from Chimera Investment’s previous quarterly dividend of $0.33. Chimera Investment’s dividend payout ratio (DPR) is 91.50%.

Insider Activity at Chimera Investment

In other Chimera Investment news, Director Gerard Creagh bought 10,000 shares of Chimera Investment stock in a transaction that occurred on Monday, June 17th. The shares were bought at an average price of $13.07 per share, with a total value of $130,700.00. Following the acquisition, the director now owns 125,899 shares in the company, valued at $1,645,499.93. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.91% of the stock is owned by insiders.

Institutional Investors Weigh In On Chimera Investment

A number of large investors have recently added to or reduced their stakes in the company. Quarry LP grew its holdings in Chimera Investment by 1,188.3% in the 2nd quarter. Quarry LP now owns 2,203 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 2,032 shares during the last quarter. Strategic Advisors LLC boosted its stake in shares of Chimera Investment by 14.2% during the 1st quarter. Strategic Advisors LLC now owns 20,155 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 2,500 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Chimera Investment by 23.0% during the 4th quarter. Private Advisor Group LLC now owns 16,421 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 3,066 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Chimera Investment by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 40,895 shares of the real estate investment trust’s stock valued at $189,000 after purchasing an additional 3,218 shares in the last quarter. Finally, Simplicity Solutions LLC boosted its stake in shares of Chimera Investment by 32.2% during the 4th quarter. Simplicity Solutions LLC now owns 19,529 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 4,762 shares in the last quarter. 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.