Zacks Investment Research downgraded shares of Chimera Investment Corporation (NYSE:CIM) from a hold rating to a sell rating in a report issued on Friday morning.

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. “

Other equities analysts have also recently issued reports about the company. BidaskClub raised Chimera Investment Corporation from a hold rating to a buy rating in a report on Thursday, June 15th. Deutsche Bank AG lifted their price objective on Chimera Investment Corporation from $19.00 to $20.00 and gave the company a hold rating in a report on Thursday. ValuEngine raised Chimera Investment Corporation from a buy rating to a strong-buy rating in a report on Saturday, June 3rd. Finally, Barclays PLC set a $17.00 price objective on Chimera Investment Corporation and gave the company a hold rating in a report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Chimera Investment Corporation presently has a consensus rating of Hold and an average price target of $18.17.

Shares of Chimera Investment Corporation (NYSE:CIM) traded up 0.85% during mid-day trading on Friday, reaching $19.00. The company’s stock had a trading volume of 905,665 shares. The firm has a 50 day moving average price of $18.91 and a 200 day moving average price of $19.00. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 5.46 and a beta of 0.94. Chimera Investment Corporation has a 52-week low of $14.70 and a 52-week high of $20.90.

Chimera Investment Corporation (NYSE:CIM) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by $0.03. The company had revenue of $150.70 million during the quarter, compared to analyst estimates of $149.75 million. Chimera Investment Corporation had a net margin of 63.94% and a return on equity of 14.27%. Chimera Investment Corporation’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. On average, equities analysts predict that Chimera Investment Corporation will post $2.34 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 annualized dividend and a dividend yield of 10.62%. Chimera Investment Corporation’s payout ratio is 57.31%.

Several institutional investors have recently modified their holdings of CIM. Twin Capital Management Inc. raised its position in shares of Chimera Investment Corporation by 9.5% in the second quarter. Twin Capital Management Inc. now owns 132,110 shares of the real estate investment trust’s stock valued at $2,461,000 after buying an additional 11,500 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Chimera Investment Corporation by 87.1% in the second quarter. BNP Paribas Arbitrage SA now owns 453,534 shares of the real estate investment trust’s stock valued at $8,449,000 after buying an additional 211,097 shares during the last quarter. ClariVest Asset Management LLC raised its position in shares of Chimera Investment Corporation by 24.3% in the second quarter. ClariVest Asset Management LLC now owns 559,090 shares of the real estate investment trust’s stock valued at $10,417,000 after buying an additional 109,294 shares during the last quarter. Wedbush Securities Inc. raised its position in shares of Chimera Investment Corporation by 3.8% in the second quarter. Wedbush Securities Inc. now owns 10,893 shares of the real estate investment trust’s stock valued at $203,000 after buying an additional 399 shares during the last quarter. Finally, IFC Holdings Incorporated FL raised its position in shares of Chimera Investment Corporation by 11.5% in the second quarter. IFC Holdings Incorporated FL now owns 18,776 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 1,938 shares during the last quarter. Institutional investors own 55.33% of the company’s stock.

Chimera Investment Corporation Company Profile

Chimera Investment Corporation is a real estate investment trust (REIT). The company is engaged in the business of investing in a portfolio of mortgage assets, including agency residential mortgage-backed security (RMBS), non-agency RMBS, agency commercial mortgage-backed securities (CMBS), residential mortgage loans and real estate related securities.

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