CHIMERA INVT CO/SH NEW (NYSE:CIM) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of CHIMERA INVT CO/SH NEW (NYSE:CIM) from a hold rating to a sell rating in a research report report published on Thursday, Zacks.com reports.

According to Zacks, “Chimera Investment Corporation is a publicly traded real estate investment trust, or REIT, that is primarily engaged in real estate finance. It invests, either directly or indirectly through its subsidiaries, in RMBS, residential mortgage loans, Agency CMBS, commercial mortgage loans, real estate-related securities and various other asset classes. The company has elected and is organized and has operated in a manner that enables it to be taxed as a REIT under the Internal Revenue Code. “

A number of other equities analysts have also recently issued reports on CIM. Royal Bank of Canada started coverage on shares of CHIMERA INVT CO/SH NEW in a report on Wednesday, October 2nd. They issued an outperform rating and a $21.00 target price on the stock. Credit Suisse Group cut shares of CHIMERA INVT CO/SH NEW from an outperform rating to a neutral rating and set a $19.50 target price on the stock. in a report on Wednesday, August 21st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $20.38.

NYSE CIM traded up $0.20 during trading hours on Thursday, reaching $20.33. The company’s stock had a trading volume of 665,801 shares, compared to its average volume of 1,259,301. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 1.99. The business has a 50-day simple moving average of $20.02 and a 200 day simple moving average of $19.35. CHIMERA INVT CO/SH NEW has a 52 week low of $16.88 and a 52 week high of $20.54. The stock has a market cap of $3.77 billion, a PE ratio of 8.69 and a beta of 0.58.

CHIMERA INVT CO/SH NEW (NYSE:CIM) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.05). CHIMERA INVT CO/SH NEW had a return on equity of 12.22% and a net margin of 13.14%. The business had revenue of $141.59 million during the quarter, compared to the consensus estimate of $142.50 million. During the same period in the prior year, the business earned $0.60 EPS. As a group, equities analysts predict that CHIMERA INVT CO/SH NEW will post 2.1 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 9.84%. CHIMERA INVT CO/SH NEW’s dividend payout ratio (DPR) is presently 85.47%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new stake in shares of CHIMERA INVT CO/SH NEW during the second quarter valued at approximately $25,000. Brand Asset Management Group Inc. bought a new stake in shares of CHIMERA INVT CO/SH NEW during the second quarter valued at approximately $36,000. Kistler Tiffany Companies LLC bought a new stake in shares of CHIMERA INVT CO/SH NEW during the second quarter valued at approximately $54,000. Carroll Financial Associates Inc. raised its holdings in shares of CHIMERA INVT CO/SH NEW by 50.0% during the second quarter. Carroll Financial Associates Inc. now owns 3,000 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 1,000 shares during the last quarter. Finally, NEXT Financial Group Inc raised its holdings in shares of CHIMERA INVT CO/SH NEW by 963.9% during the second quarter. NEXT Financial Group Inc now owns 4,415 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 4,000 shares during the last quarter. 51.49% of the stock is currently owned by institutional investors.

CHIMERA INVT CO/SH NEW Company Profile

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

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