CHIMERA INVT CO/SH NEW (NYSE:CIM) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of CHIMERA INVT CO/SH NEW (NYSE:CIM) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, 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. “

Other equities analysts also recently issued research reports about the stock. Credit Suisse Group downgraded shares of 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 note on Wednesday, August 21st. They noted that the move was a valuation call. Royal Bank of Canada assumed coverage on shares of CHIMERA INVT CO/SH NEW in a research note on Wednesday, October 2nd. They issued an outperform rating and a $21.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. CHIMERA INVT CO/SH NEW presently has an average rating of Hold and a consensus target price of $20.38.

Shares of CIM stock traded up $0.20 during mid-day trading on Thursday, reaching $20.33. The company’s stock had a trading volume of 665,801 shares, compared to its average volume of 1,259,301. The company’s 50 day simple moving average is $20.02 and its 200-day simple moving average is $19.35. CHIMERA INVT CO/SH NEW has a 12-month low of $16.88 and a 12-month high of $20.54. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 1.99. The firm has a market capitalization of $3.77 billion, a PE ratio of 8.69 and a beta of 0.58.

CHIMERA INVT CO/SH NEW (NYSE:CIM) last issued its 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). CHIMERA INVT CO/SH NEW had a net margin of 13.14% and a return on equity of 12.22%. The business had revenue of $141.59 million during the quarter, compared to analysts’ expectations of $142.50 million. During the same period in the prior year, the business posted $0.60 EPS. As a group, research analysts anticipate that CHIMERA INVT CO/SH NEW will post 2.1 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 9.84%. The ex-dividend date of this dividend is Monday, December 30th. CHIMERA INVT CO/SH NEW’s dividend payout ratio is presently 85.47%.

Several hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new stake in CHIMERA INVT CO/SH NEW during the 2nd quarter worth $25,000. Brand Asset Management Group Inc. purchased a new stake in CHIMERA INVT CO/SH NEW during the 2nd quarter worth $36,000. Kistler Tiffany Companies LLC purchased a new stake in CHIMERA INVT CO/SH NEW during the 2nd quarter worth $54,000. Carroll Financial Associates Inc. increased its stake in CHIMERA INVT CO/SH NEW by 50.0% during the 2nd quarter. Carroll Financial Associates Inc. now owns 3,000 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 1,000 shares during the period. Finally, NEXT Financial Group Inc increased its stake in CHIMERA INVT CO/SH NEW by 963.9% during the 2nd quarter. NEXT Financial Group Inc now owns 4,415 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 4,000 shares during the period. 51.49% of the stock is currently owned by institutional investors and hedge funds.

CHIMERA INVT CO/SH NEW Company Profile

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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