Chimera Investment (NYSE:CIM) Stock Price Target Lowered at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut its price target on Chimera Investment from $13.00 to $11.50 while maintaining a “market perform” rating; the new target implies 57.64% upside from the previous close.
• Chimera reported quarterly EPS of $0.38, missing the $0.45 consensus estimate. Shares traded at $7.29 and were near their 52-week low of $7.18.
• Analyst sentiment is mixed: MarketBeat reports an average “Hold” rating and an average price target of $13.67, based on one Buy, two Hold, and one Sell rating.

Chimera Investment (NYSE:CIM - Get Free Report) had its target price lowered by Keefe, Bruyette & Woods from $13.00 to $11.50 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a "market perform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods's price objective suggests a potential upside of 57.64% from the company's previous close.

Separately, Weiss Ratings downgraded shares of Chimera Investment from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, September 18th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $13.67.

Chimera Investment Stock Performance

Shares of NYSE CIM traded down $0.01 during trading hours on Monday, reaching $7.29. The stock had a trading volume of 1,158,172 shares, compared to its average volume of 945,955. The firm has a market cap of $610.68 million, a price-to-earnings ratio of -2.38 and a beta of 1.75. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 2.34. Chimera Investment has a fifty-two week low of $7.18 and a fifty-two week high of $14.18. The firm has a 50-day moving average of $9.68 and a 200-day moving average of $12.17.

Chimera Investment (NYSE:CIM - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $0.38 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 analyst estimates of $103.10 million. Chimera Investment had a positive return on equity of 9.99% and a negative net margin of 19.11%.

Institutional Investors Weigh In On Chimera Investment

Several hedge funds have recently modified their holdings of the stock. StoneX Group Inc. acquired a new stake in shares of Chimera Investment in the 3rd quarter valued at approximately $220,000. International Assets Investment Management LLC boosted its stake in shares of Chimera Investment by 31.0% in the third 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 in the last quarter. Kestra Advisory Services LLC boosted its stake in shares of Chimera Investment by 167.6% in the third quarter. Kestra Advisory Services LLC now owns 34,346 shares of the real estate investment trust's stock valued at $327,000 after buying an additional 21,512 shares in the last quarter. Sigma Planning Corp boosted its stake in shares of Chimera Investment by 18.9% in the third quarter. Sigma Planning Corp now owns 18,423 shares of the real estate investment trust's stock valued at $176,000 after buying an additional 2,929 shares in the last quarter. Finally, Simplicity Wealth LLC grew its holdings in Chimera Investment by 18.1% during the third quarter. Simplicity Wealth LLC now owns 83,244 shares of the real estate investment trust's stock worth $793,000 after acquiring an additional 12,762 shares during the period. 48.44% of the stock is owned by institutional investors and hedge funds.

Chimera Investment Company Profile

Chimera Investment Corporation NYSE: CIM is a real estate investment trust that invests primarily in residential mortgage assets and other real estate-related investments. The company seeks to generate income from a portfolio that may include residential mortgage loans, agency and non-agency residential mortgage-backed securities, and other mortgage-related assets.

Chimera's investments can include whole residential mortgage loans and securitized interests backed by mortgages. Its portfolio has historically included both agency assets, which carry guarantees from government-sponsored entities or government agencies, and non-agency assets, which generally involve greater credit exposure.

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