Chimera Investment (NYSE:CIM) Stock Gets Price Target Cut from Keefe, Bruyette & Woods

Chimera Investment (NYSE:CIM) had its target price reduced by Keefe, Bruyette & Woods from $13.00 to $11.50 in a research report sent to investors on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the real estate investment trust’s stock.

Separately, Weiss Ratings downgraded shares of Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 18th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Chimera Investment has a consensus rating of “Hold” and an average target price of $13.67.

Chimera Investment Stock Down 2.9%

Chimera Investment stock opened at $6.79 on Monday. The company has a debt-to-equity ratio of 2.46, a current ratio of 0.05 and a quick ratio of 0.07. Chimera Investment has a fifty-two week low of $6.76 and a fifty-two week high of $14.18. The firm has a fifty day moving average price of $9.42 and a two-hundred day moving average price of $12.08. The firm has a market cap of $567.99 million, a price-to-earnings ratio of -2.22 and a beta of 1.75.

Chimera Investment (NYSE:CIM) last issued its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). Chimera Investment had a negative net margin of 19.11% and a positive return on equity of 10.31%. The business had revenue of ($118.00) million during the quarter, compared to analyst estimates of $103.10 million.

Chimera Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.80 dividend on an annualized basis and a yield of 26.5%. Chimera Investment’s dividend payout ratio (DPR) is -58.82%.

Hedge Funds Weigh In On Chimera Investment

Several large investors have recently added to or reduced their stakes in the company. Nykredit A S bought a new stake in shares of Chimera Investment in the 2nd quarter worth approximately $29,000. Sigma Planning Corp raised its stake in shares of Chimera Investment by 18.9% in the third quarter. Sigma Planning Corp now owns 18,423 shares of the real estate investment trust’s stock valued at $176,000 after purchasing an additional 2,929 shares in the last quarter. Kennicott Capital Management LLC lifted its position in Chimera Investment by 9.0% in the third quarter. Kennicott Capital Management LLC now owns 35,616 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 2,943 shares during the period. Integrated Wealth Concepts LLC bought a new position in Chimera Investment in the second quarter worth $46,000. Finally, IFP Advisors Inc lifted its position in 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 worth $139,000 after purchasing an additional 3,586 shares during the period. Institutional investors and hedge funds own 48.44% of the company’s stock.

Chimera Investment Company Profile

Chimera Investment Corporation is a real estate investment trust (REIT) focused on residential mortgage-related assets. Its investments include residential mortgage loans and residential mortgage-backed securities, as well as commercial mortgage loans and other real estate-related assets. The company seeks to generate income from these assets and may hold them directly or through securitized investments. Its activities are tied primarily to the U.S. mortgage and housing markets. Founded in 2007, Chimera is headquartered in New York.