Chimera Investment Corporation (NYSE:CIM) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Chimera Investment Corporation (NYSE:CIM) has received an average recommendation of "Hold" from analysts, with three hold ratings and one buy rating among the four firms covering the stock.
• The company announced a quarterly dividend of $0.37, resulting in an annualized dividend of $1.48 and a yield of 11.1%, with a payout ratio of 117.46%.
• Chimera Investment's latest earnings report revealed a miss on earnings estimates, reporting $0.39 EPS against a consensus estimate of $0.46, alongside a revenue of $66.01 million compared to estimated $83.89 million.

Shares of Chimera Investment Corporation (NYSE:CIM - Get Free Report) have earned a consensus recommendation of "Hold" from the four ratings firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $15.50.

A number of analysts recently issued reports on the company. UBS Group raised their price objective on Chimera Investment from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Weiss Ratings reissued a "hold (c-)" rating on shares of Chimera Investment in a research report on Saturday, September 27th. Keefe, Bruyette & Woods cut their price objective on Chimera Investment from $16.50 to $15.00 and set a "market perform" rating for the company in a research report on Thursday, July 10th. Finally, Wall Street Zen downgraded Chimera Investment from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th.

Institutional Trading of Chimera Investment

Several hedge funds have recently added to or reduced their stakes in CIM. Manning & Napier Advisors LLC boosted its position in shares of Chimera Investment by 50.0% during the 1st quarter. Manning & Napier Advisors LLC now owns 150,000 shares of the real estate investment trust's stock worth $1,924,000 after acquiring an additional 50,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Chimera Investment by 18.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,529 shares of the real estate investment trust's stock valued at $225,000 after purchasing an additional 2,730 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Chimera Investment by 18.5% in the 4th quarter. Bank of America Corp DE now owns 115,959 shares of the real estate investment trust's stock valued at $1,623,000 after purchasing an additional 18,075 shares during the last quarter. Cadent Capital Advisors LLC lifted its holdings in shares of Chimera Investment by 23.9% in the 1st quarter. Cadent Capital Advisors LLC now owns 215,712 shares of the real estate investment trust's stock valued at $2,768,000 after purchasing an additional 41,679 shares during the last quarter. Finally, Graham Capital Management L.P. lifted its holdings in shares of Chimera Investment by 29.1% in the 1st quarter. Graham Capital Management L.P. now owns 97,838 shares of the real estate investment trust's stock valued at $1,255,000 after purchasing an additional 22,048 shares during the last quarter. Institutional investors and hedge funds own 48.44% of the company's stock.

Chimera Investment Price Performance

Shares of CIM remained flat at $13.39 during midday trading on Friday. The company's stock had a trading volume of 532,039 shares, compared to its average volume of 578,367. Chimera Investment has a twelve month low of $9.85 and a twelve month high of $16.27. The company has a market capitalization of $1.09 billion, a PE ratio of 10.63 and a beta of 1.85. The business has a fifty day simple moving average of $13.86 and a 200 day simple moving average of $13.32. The company has a debt-to-equity ratio of 4.47, a quick ratio of 4.14 and a current ratio of 4.14.

Chimera Investment (NYSE:CIM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.07). Chimera Investment had a return on equity of 7.28% and a net margin of 21.93%.The company had revenue of $66.01 million during the quarter, compared to analyst estimates of $83.89 million. As a group, sell-side analysts anticipate that Chimera Investment will post 1.57 earnings per share for the current fiscal year.

Chimera Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 11.1%. The ex-dividend date of this dividend is Tuesday, September 30th. Chimera Investment's payout ratio is currently 117.46%.

About Chimera Investment

Chimera Investment Corporation operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, business purpose and investor loans, and other real estate related securities.

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