Chimera Investment (NYSE:CIM) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Chimera Investment Corporation (NYSE:CIM - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.46 and traded as high as $14.43. Chimera Investment shares last traded at $14.25, with a volume of 445,956 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CIM. UBS Group upgraded shares of Chimera Investment from a "neutral" rating to a "buy" rating and raised their price target for the stock from $11.50 to $15.00 in a research note on Wednesday, May 14th. Wall Street Zen upgraded shares of Chimera Investment from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Finally, Royal Bank Of Canada upgraded shares of Chimera Investment to a "moderate buy" rating in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $15.50.

Chimera Investment Trading Down 1.7%

The stock has a market cap of $1.14 billion, a P/E ratio of 9.40 and a beta of 1.74. The company has a debt-to-equity ratio of 3.93, a current ratio of 3.70 and a quick ratio of 3.70. The business's 50 day simple moving average is $13.41 and its 200 day simple moving average is $13.44.

Chimera Investment (NYSE:CIM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. The company 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, analysts expect that Chimera Investment Corporation will post 1.57 earnings per share for the current fiscal year.

Chimera Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.50%. The ex-dividend date of this dividend is Monday, June 30th. Chimera Investment's dividend payout ratio is currently 98.67%.

Institutional Trading of Chimera Investment

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP increased its holdings in shares of Chimera Investment by 1,691.7% in the fourth quarter. Quarry LP now owns 3,243 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 3,062 shares in the last quarter. GAMMA Investing LLC grew its holdings in Chimera Investment by 8,728.6% during the 1st quarter. GAMMA Investing LLC now owns 3,708 shares of the real estate investment trust's stock worth $48,000 after acquiring an additional 3,666 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Chimera Investment during the 4th quarter worth $56,000. Hillsdale Investment Management Inc. acquired a new stake in Chimera Investment during the 4th quarter worth $65,000. Finally, Summit Securities Group LLC acquired a new stake in Chimera Investment during the 4th quarter worth $111,000. Institutional investors and hedge funds own 48.44% of the company's stock.

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.