Chimera Investment (NYSE:CIM) Sets New 12-Month Low – Here’s What Happened

Chimera Investment Corporation (NYSE:CIM)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $11.46 and last traded at $11.4550, with a volume of 217914 shares changing hands. The stock had previously closed at $11.61.

Wall Street Analysts Forecast Growth

CIM has been the topic of several research analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $14.00 price target on shares of Chimera Investment in a research note on Wednesday, June 3rd. Weiss Ratings upgraded shares of Chimera Investment from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, August 17th. Wall Street Zen raised Chimera Investment from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Finally, Keefe, Bruyette & Woods cut their target price on Chimera Investment from $15.00 to $14.00 and set a “market perform” rating on the stock in a research report on Thursday, August 6th. One equities research 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 has an average rating of “Hold” and a consensus target price of $14.50.

Chimera Investment Stock Performance

The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 2.34. The stock has a market cap of $965.59 million, a price-to-earnings ratio of -11.31 and a beta of 1.67. The stock’s 50 day moving average is $12.56 and its two-hundred day moving average is $13.04.

Chimera Investment (NYSE:CIM) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). Chimera Investment had a net margin of 0.14% and a return on equity of 9.82%. The business had revenue of $94.77 million during the quarter, compared to analyst estimates of $95.30 million.

Chimera Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 15.6%. Chimera Investment’s dividend payout ratio (DPR) is currently -176.47%.

Institutional Trading of Chimera Investment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nykredit A S acquired a new stake in Chimera Investment during the 2nd quarter worth approximately $29,000. Public Employees Retirement System of Ohio acquired a new position in shares of Chimera Investment in the second quarter valued at approximately $60,000. Global Retirement Partners LLC acquired a new position in shares of Chimera Investment in the second quarter valued at approximately $79,000. IFP Advisors Inc raised its stake in shares of Chimera Investment by 1,211.4% during the fourth quarter. IFP Advisors Inc now owns 6,216 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 5,742 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Chimera Investment by 92.1% during the second quarter. Tower Research Capital LLC TRC now owns 7,140 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 3,423 shares during the last quarter. 48.44% of the stock is owned by hedge funds and other institutional investors.

About Chimera Investment

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.