Chimera Investment (NYSE:CIM) Hits New 12-Month Low – Time to Sell?

Chimera Investment Corporation (NYSE:CIM) reached a new 52-week low 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 Ratings Changes

Several equities analysts have weighed in on CIM shares. Keefe, Bruyette & Woods cut their target price on Chimera Investment from $13.00 to $11.50 and set a “market perform” rating on the stock in a report on Monday. Weiss Ratings downgraded Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 18th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.67.

Chimera Investment Stock Performance

The stock’s 50-day moving average price is $9.32 and its 200 day moving average price is $12.05. The company has a quick ratio of 0.07, a current ratio of 0.05 and a debt-to-equity ratio of 2.46. The company has a market cap of $555.58 million, a P/E ratio of -2.17 and a beta of 1.75.

Chimera Investment (NYSE:CIM) last posted its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). The firm 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 firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 27.1%. The ex-dividend date of this dividend was Wednesday, September 30th. Chimera Investment’s dividend payout ratio (DPR) is currently -58.82%.

Hedge Funds Weigh In On Chimera Investment

A number of institutional investors have recently made changes to their positions in CIM. Private Advisor Group LLC lifted its position in shares of Chimera Investment by 99.9% during the 3rd quarter. Private Advisor Group LLC now owns 255,001 shares of the real estate investment trust’s stock worth $2,430,000 after purchasing an additional 127,413 shares during the last quarter. Ieq Capital LLC grew its holdings in Chimera Investment by 57.5% in the 3rd quarter. Ieq Capital LLC now owns 62,259 shares of the real estate investment trust’s stock valued at $593,000 after buying an additional 22,725 shares during the last quarter. StoneX Group Inc. acquired a new stake in Chimera Investment in the 3rd quarter valued at approximately $220,000. International Assets Investment Management LLC grew its holdings in Chimera Investment by 31.0% in the 3rd quarter. International Assets Investment Management LLC now owns 26,695 shares of the real estate investment trust’s stock valued at $250,000 after buying an additional 6,311 shares during the last quarter. Finally, Kestra Advisory Services LLC increased its position in Chimera Investment by 167.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 34,346 shares of the real estate investment trust’s stock worth $327,000 after buying an additional 21,512 shares during the period. 48.44% of the stock is currently owned by institutional investors.

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.