CHIMERA INVT CO/SH NEW (NYSE:CIM) Stock Rating Lowered by Zacks Investment Research

CHIMERA INVT CO/SH NEW (NYSE:CIM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, Zacks.com reports.

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. “

A number of other equities research analysts have also issued reports on the company. Royal Bank of Canada initiated coverage on CHIMERA INVT CO/SH NEW in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $21.00 target price on the stock. Credit Suisse Group lowered CHIMERA INVT CO/SH NEW from an “outperform” rating to a “neutral” rating and set a $19.50 target price on the stock. in a research report on Wednesday, August 21st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. CHIMERA INVT CO/SH NEW presently has an average rating of “Hold” and a consensus target price of $20.38.

Shares of NYSE CIM traded up $0.20 during mid-day trading on Thursday, reaching $20.33. 665,801 shares of the company’s stock were exchanged, compared to its average volume of 1,259,301. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 8.69 and a beta of 0.58. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 1.99. The business has a fifty day simple moving average of $20.02 and a 200 day simple moving average of $19.35. CHIMERA INVT CO/SH NEW has a twelve month low of $16.88 and a twelve month high of $20.54.

CHIMERA INVT CO/SH NEW (NYSE:CIM) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.05). The business had revenue of $141.59 million for the quarter, compared to analyst estimates of $142.50 million. CHIMERA INVT CO/SH NEW had a return on equity of 12.22% and a net margin of 13.14%. During the same period in the prior year, the business earned $0.60 EPS. Equities research analysts predict that CHIMERA INVT CO/SH NEW will post 2.1 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC acquired a new stake in CHIMERA INVT CO/SH NEW in the 2nd quarter valued at approximately $25,000. Brand Asset Management Group Inc. acquired a new stake in CHIMERA INVT CO/SH NEW in the 2nd quarter valued at approximately $36,000. Kistler Tiffany Companies LLC acquired a new stake in CHIMERA INVT CO/SH NEW in the 2nd quarter valued at approximately $54,000. Carroll Financial Associates Inc. raised its position in CHIMERA INVT CO/SH NEW by 50.0% in the 2nd quarter. Carroll Financial Associates Inc. now owns 3,000 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 1,000 shares during the last quarter. Finally, NEXT Financial Group Inc raised its position in CHIMERA INVT CO/SH NEW by 963.9% in the 2nd quarter. NEXT Financial Group Inc now owns 4,415 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 4,000 shares during the last quarter. 51.49% of the stock is currently owned by institutional investors and hedge funds.

About CHIMERA INVT CO/SH NEW

Chimera Investment Corporation operates as a real estate investment trust in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency and non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, commercial mortgage loans, and other real estate related securities.

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