Chimera Investment (NYSE:CIM) Given New $16.00 Price Target at UBS Group

Chimera Investment (NYSE:CIM - Get Free Report) had its price objective lifted by equities researchers at UBS Group from $15.00 to $16.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the real estate investment trust's stock. UBS Group's price target indicates a potential upside of 12.99% from the company's current price.

Several other analysts also recently commented on CIM. Keefe, Bruyette & Woods dropped their price objective on shares of Chimera Investment from $16.50 to $15.00 and set a "market perform" rating on the stock in a report on Thursday. Royal Bank Of Canada upgraded Chimera Investment to a "moderate buy" rating in a report on Friday, March 14th. Finally, Wall Street Zen raised Chimera Investment from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $15.50.

Chimera Investment Price Performance

CIM stock traded down $0.08 during trading on Thursday, reaching $14.16. The company's stock had a trading volume of 513,895 shares, compared to its average volume of 568,511. Chimera Investment has a 1 year low of $9.85 and a 1 year high of $16.89. The company's fifty day moving average is $13.49 and its 200-day moving average is $13.45. The company has a quick ratio of 3.70, a current ratio of 3.70 and a debt-to-equity ratio of 3.93. The company has a market capitalization of $1.15 billion, a P/E ratio of 9.44 and a beta of 1.74.

Chimera Investment (NYSE:CIM - Get Free Report) last released its earnings results on Thursday, May 8th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.03. The firm had revenue of $69.22 million during the quarter, compared to analyst estimates of $72.07 million. Chimera Investment had a net margin of 25.12% and a return on equity of 7.25%. On average, research analysts expect that Chimera Investment will post 1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chimera Investment

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Investment Partners Asset Management Inc. lifted its stake in shares of Chimera Investment by 10.2% during the 1st quarter. Investment Partners Asset Management Inc. now owns 14,437 shares of the real estate investment trust's stock worth $185,000 after purchasing an additional 1,338 shares during the period. Sterling Capital Management LLC grew its stake in shares of Chimera Investment by 4.9% in the fourth quarter. Sterling Capital Management LLC now owns 29,111 shares of the real estate investment trust's stock valued at $408,000 after buying an additional 1,357 shares in the last quarter. AXS Investments LLC lifted its position in shares of Chimera Investment by 1.8% during the first quarter. AXS Investments LLC now owns 109,345 shares of the real estate investment trust's stock worth $1,403,000 after purchasing an additional 1,911 shares in the last quarter. Cetera Investment Advisers boosted its position in Chimera Investment by 11.4% in the 1st quarter. Cetera Investment Advisers now owns 18,783 shares of the real estate investment trust's stock valued at $241,000 after buying an additional 1,927 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in Chimera Investment by 12.9% during the 1st quarter. Empowered Funds LLC now owns 21,322 shares of the real estate investment trust's stock valued at $274,000 after purchasing an additional 2,430 shares in the last quarter. 48.44% of the stock is owned by institutional investors and hedge funds.

Chimera Investment Company Profile

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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