Chimera Investment (NYSE:CIM) Given Sector Perform Rating at Royal Bank Of Canada

Chimera Investment (NYSE:CIM)‘s stock had its “sector perform” rating reissued by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $14.00 price target on the real estate investment trust’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 5.66% from the stock’s previous close.

Several other research analysts have also recently weighed in on CIM. Weiss Ratings cut shares of Chimera Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded shares of Chimera Investment from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $14.83.

Chimera Investment Stock Performance

CIM stock traded down $0.29 on Wednesday, hitting $13.25. The company had a trading volume of 247,581 shares, compared to its average volume of 788,080. Chimera Investment has a 12-month low of $11.67 and a 12-month high of $14.88. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 2.31. The stock’s 50-day simple moving average is $13.25 and its 200 day simple moving average is $13.03. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -16.56 and a beta of 1.68.

Chimera Investment (NYSE:CIM) last issued its earnings results on Thursday, May 7th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. Chimera Investment had a net margin of 2.27% and a return on equity of 9.36%. The company had revenue of $32.37 million for the quarter, compared to analysts’ expectations of $102.35 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CIM. VSM Wealth Advisory LLC raised its position in shares of Chimera Investment by 64.3% during the 3rd quarter. VSM Wealth Advisory LLC now owns 2,391 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 936 shares during the period. GAMMA Investing LLC raised its position in shares of Chimera Investment by 864.7% during the 4th quarter. GAMMA Investing LLC now owns 3,193 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 2,862 shares during the period. IFP Advisors Inc raised its position in shares of Chimera Investment by 1,211.4% during the 4th quarter. IFP Advisors Inc now owns 6,216 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 5,742 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Chimera Investment by 92.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,140 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 3,423 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of Chimera Investment during the 4th quarter valued at $105,000. Hedge funds and other institutional investors own 48.44% of the company’s stock.

Chimera Investment Company Profile

Chimera Investment Corporation (NYSE: CIM) is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company’s portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.

The firm’s core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.