Royal Bank Of Canada Has Lowered Expectations for Chimera Investment (NYSE:CIM) Stock Price

Key Points

• RBC cut its Chimera Investment price target from $13 to $7 while maintaining a “sector perform” rating; the new target implies 8.36% upside from the share price cited in the report.
• Analyst views are mixed, with an overall “Hold” consensus and an average price target of $11.33. Keefe, Bruyette & Woods also lowered its target, from $13 to $11.50.
• Chimera shares fell 2.6% to $6.46 on Friday, and the REIT reported quarterly earnings of $0.38 per share, below the $0.45 analyst consensus.

Chimera Investment (NYSE:CIM - Get Free Report) had its price target reduced by equities researchers at Royal Bank Of Canada from $13.00 to $7.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price target points to a potential upside of 8.36% from the company's current price.

Several other research analysts also recently weighed in on the company. Keefe, Bruyette & Woods cut their price target on Chimera Investment from $13.00 to $11.50 and set a "market perform" rating for the company in a research note on Monday. Weiss Ratings downgraded shares of Chimera Investment from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, September 18th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Chimera Investment presently has an average rating of "Hold" and a consensus price target of $11.33.

Chimera Investment Stock Down 2.6%

Shares of CIM traded down $0.17 during trading hours on Friday, reaching $6.46. The stock had a trading volume of 425,508 shares, compared to its average volume of 961,942. The firm has a 50-day simple moving average of $9.32 and a 200 day simple moving average of $12.05. Chimera Investment has a 12 month low of $6.37 and a 12 month high of $14.18. The company has a current ratio of 0.05, a quick ratio of 0.07 and a debt-to-equity ratio of 2.46. The company has a market capitalization of $540.77 million, a price-to-earnings ratio of -2.11 and a beta of 1.75.

Chimera Investment (NYSE:CIM - Get Free Report) last posted its earnings results on Thursday, November 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.07). Chimera Investment had a negative net margin of 19.11% and a positive return on equity of 10.31%. The company had revenue of ($118.00) million during the quarter, compared to the consensus estimate of $103.10 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC increased 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 valued at $2,430,000 after purchasing an additional 127,413 shares during the last quarter. Ieq Capital LLC lifted its position 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 worth $593,000 after buying an additional 22,725 shares during the last quarter. StoneX Group Inc. bought a new stake in Chimera Investment in the 3rd quarter worth approximately $220,000. International Assets Investment Management LLC boosted its stake in 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 worth $250,000 after buying an additional 6,311 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its stake in 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 worth $327,000 after buying an additional 21,512 shares in the last quarter. 48.44% of the stock is currently owned by hedge funds and other institutional investors.

Chimera Investment Company Profile

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.

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