Chimera Investment (NYSE:CIM) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Chimera Investment (NYSE:CIM) from a sell rating to a hold rating in a research report released on Saturday.

Separately, Weiss Ratings raised Chimera Investment from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.50.

Chimera Investment Price Performance

NYSE:CIM opened at $13.08 on Friday. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -16.34 and a beta of 1.71. Chimera Investment has a 52-week low of $11.67 and a 52-week high of $14.88. The stock has a fifty day moving average of $13.25 and a 200 day moving average of $12.97. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.06 and a current ratio of 0.08.

Chimera Investment (NYSE:CIM) last issued its quarterly 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 return on equity of 9.36% and a net margin of 2.27%.The firm had revenue of $32.37 million during the quarter, compared to analyst estimates of $102.35 million.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CIM. SG Americas Securities LLC purchased a new position in shares of Chimera Investment in the fourth quarter worth about $7,431,000. UBS Group AG increased its holdings in shares of Chimera Investment by 130.7% in the fourth quarter. UBS Group AG now owns 763,691 shares of the real estate investment trust’s stock worth $9,493,000 after buying an additional 432,727 shares during the period. Ritholtz Wealth Management purchased a new position in shares of Chimera Investment in the fourth quarter worth about $4,977,000. Allianz Asset Management GmbH increased its holdings in shares of Chimera Investment by 21.7% in the third quarter. Allianz Asset Management GmbH now owns 1,671,318 shares of the real estate investment trust’s stock worth $22,095,000 after buying an additional 297,709 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Chimera Investment by 65.8% in the fourth quarter. Millennium Management LLC now owns 697,620 shares of the real estate investment trust’s stock worth $8,671,000 after buying an additional 276,950 shares during the period. 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.