Chimera Investment (NYSE:CIM) Sets New 12-Month Low – Here’s What Happened

Chimera Investment Corporation (NYSE:CIM)’s share price reached a new 52-week low during trading on Monday. The stock traded as low as $8.26 and last traded at $8.2480, with a volume of 114,315 shares. The stock had previously closed at $8.40.

Analysts Set New Price Targets

CIM has been the topic of several research analyst reports. Weiss Ratings cut Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 18th. Keefe, Bruyette & Woods cut their price target on shares of Chimera Investment from $15.00 to $14.00 and set a “market perform” rating on the stock in a report on Thursday, August 6th. Finally, Wall Street Zen raised shares of Chimera Investment from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.50.

Chimera Investment Trading Down 1.6%

The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 2.34. The firm has a 50 day moving average of $10.71 and a 200 day moving average of $12.30. The firm has a market cap of $691.86 million, a PE ratio of -8.09 and a beta of 1.72.

Chimera Investment (NYSE:CIM) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). The firm had revenue of $94.77 million during the quarter, compared to analysts’ expectations of $95.30 million. Chimera Investment had a return on equity of 9.82% and a net margin of 0.14%.

Chimera Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.45 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.80 annualized dividend and a dividend yield of 21.8%. Chimera Investment’s dividend payout ratio is presently -176.47%.

Institutional Investors Weigh In On Chimera Investment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CIM. Nykredit A S bought a new position in Chimera Investment during the second quarter worth about $29,000. Integrated Wealth Concepts LLC purchased a new position in shares of Chimera Investment in the second quarter worth about $46,000. Public Employees Retirement System of Ohio purchased a new position in shares of Chimera Investment in the second quarter worth about $60,000. Global Retirement Partners LLC bought a new stake in shares of Chimera Investment in the second quarter valued at approximately $79,000. Finally, IFP Advisors Inc raised its position in shares of Chimera Investment by 52.5% in the second quarter. IFP Advisors Inc now owns 10,412 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 3,586 shares during the period. 48.44% of the stock is currently owned by institutional investors.

Chimera Investment Company Profile

Chimera Investment Corporation is a real estate investment trust (REIT) focused on investing in residential mortgage assets. The company seeks to generate income primarily through a portfolio of mortgage loans and mortgage-backed securities, including agency and non-agency residential mortgage-backed securities.

Its investments may include performing and non-performing residential mortgage loans, residential mortgage-backed securities and other mortgage-related assets. Agency securities are generally backed by government-sponsored enterprises or U.S.