Chimera Investment (NYSE:CIM) Sets New 52-Week Low – What’s Next?

Chimera Investment Corporation (NYSE:CIM) reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $6.89 and last traded at $6.9360, with a volume of 140,352 shares trading hands. The stock had previously closed at $6.99.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CIM. Keefe, Bruyette & Woods decreased their price target on shares of Chimera Investment from $13.00 to $11.50 and set a “market perform” rating for the company in a research note on Monday. Weiss Ratings lowered shares of Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 18th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Chimera Investment currently has an average rating of “Hold” and a consensus target price of $13.67.

Chimera Investment Stock Performance

The firm has a market cap of $572.99 million, a P/E ratio of -2.24 and a beta of 1.75. The company has a current ratio of 0.05, a quick ratio of 0.07 and a debt-to-equity ratio of 2.46. The company’s 50-day moving average is $9.51 and its two-hundred day moving average is $12.12.

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

Chimera Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 26.3%. The ex-dividend date was Wednesday, September 30th. Chimera Investment’s dividend payout ratio (DPR) is currently -58.82%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CIM. Nykredit A S purchased a new stake in Chimera Investment in the 2nd quarter valued at $29,000. Sigma Planning Corp lifted its stake in Chimera Investment by 18.9% during the 3rd quarter. Sigma Planning Corp now owns 18,423 shares of the real estate investment trust’s stock valued at $176,000 after acquiring an additional 2,929 shares in the last quarter. Kennicott Capital Management LLC lifted its stake in Chimera Investment by 9.0% during the 3rd quarter. Kennicott Capital Management LLC now owns 35,616 shares of the real estate investment trust’s stock valued at $339,000 after acquiring an additional 2,943 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Chimera Investment during the 2nd quarter worth $46,000. Finally, IFP Advisors Inc boosted its holdings in Chimera Investment by 52.5% during the 2nd quarter. IFP Advisors Inc now owns 10,412 shares of the real estate investment trust’s stock worth $139,000 after acquiring an additional 3,586 shares during the last quarter. Hedge funds and other institutional investors own 48.44% of the company’s stock.

About Chimera Investment

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.