Chimera Investment Corp. (CIM) Reaches New 1-Year High at $16.36
Shares of Chimera Investment Corp. (NYSE:CIM) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $16.36 and last traded at $16.35, with a volume of 556,621 shares. The stock had previously closed at $16.33.
A number of analysts recently issued reports on the stock. Zacks Investment Research raised shares of Chimera Investment Corp. from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. Wells Fargo & Co. cut shares of Chimera Investment Corp. from a “market perform” rating to an “underperform” rating in a research report on Wednesday, May 4th. Finally, Nomura restated a “buy” rating and set a $17.00 price objective on shares of Chimera Investment Corp. in a research report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $17.07.
The firm has a market capitalization of $3.09 billion and a price-to-earnings ratio of 12.14. The company’s 50 day moving average price is $15.78 and its 200 day moving average price is $14.13.
Chimera Investment Corp. (NYSE:CIM) last announced its earnings results on Monday, May 2nd. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. During the same quarter last year, the firm earned $0.59 earnings per share. On average, equities analysts anticipate that Chimera Investment Corp. will post $2.20 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, June 30th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, June 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 11.68%.
Several institutional investors have made changes to their positions in CIM. Jennison Associates boosted its position in shares of Chimera Investment Corp. by 3.4% in the third quarter. Jennison Associates now owns 1,255,618 shares of the company’s stock worth $16,788,000 after buying an additional 41,786 shares during the last quarter. Russell Frank Co boosted its position in shares of Chimera Investment Corp. by 126.6% in the fourth quarter. Russell Frank Co now owns 403,766 shares of the company’s stock worth $5,532,000 after buying an additional 225,586 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Chimera Investment Corp. by 1.2% in the fourth quarter. Rhumbline Advisers now owns 148,525 shares of the company’s stock worth $2,026,000 after buying an additional 1,754 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Chimera Investment Corp. by 6.3% in the fourth quarter. California Public Employees Retirement System now owns 588,940 shares of the company’s stock worth $8,033,000 after buying an additional 35,000 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Chimera Investment Corp. during the fourth quarter worth approximately $1,092,000.
Chimera Investment Corporation is a real estate investment trust. The Company is primarily engaged in the business of investing, on a leveraged basis, in a diversified portfolio of mortgage assets, including Agency residential mortgage-backed securities (RMBS), Non-Agency RMBS, Agency commercial mortgage backed securities (CMBS), residential mortgage loans and real estate related securities.
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