Chimera Investment (NYSE:CIM) Stock Rating Lowered by Wall Street Zen

Key Points

• Chimera Investment has been downgraded by Wall Street Zen from a "hold" to a "sell" rating, reflecting analyst concerns about its performance.
• Several brokerages are adjusting their price targets for the stock, with Keefe, Bruyette & Woods lowering their target from $16.50 to $15.00, while UBS Group raised theirs from $15.00 to $16.00.
• The company reported earnings of $0.39 per share for its most recent quarter, falling short of analyst expectations of $0.46, with revenues also underperforming at $66.01 million compared to estimates of $83.89 million.

Chimera Investment (NYSE:CIM - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

A number of other brokerages have also weighed in on CIM. Keefe, Bruyette & Woods decreased their price target 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, July 10th. UBS Group lifted their price target on shares of Chimera Investment from $15.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Chimera Investment has a consensus rating of "Hold" and an average price target of $15.50.

Chimera Investment Stock Up 1.0%

Shares of NYSE CIM opened at $13.45 on Friday. Chimera Investment has a 1 year low of $9.85 and a 1 year high of $16.89. The firm's 50 day moving average price is $13.83 and its 200 day moving average price is $13.40. The firm has a market cap of $1.09 billion, a P/E ratio of 10.67 and a beta of 1.79. The company has a debt-to-equity ratio of 4.47, a quick ratio of 3.70 and a current ratio of 4.14.

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

Hedge Funds Weigh In On Chimera Investment

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP lifted its holdings in shares of Chimera Investment by 1,691.7% during the 4th quarter. Quarry LP now owns 3,243 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 3,062 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 valued at $48,000 after acquiring an additional 3,666 shares in the last quarter. CWM LLC lifted its holdings in shares of Chimera Investment by 508.4% during the 2nd quarter. CWM LLC now owns 5,196 shares of the real estate investment trust's stock valued at $72,000 after acquiring an additional 4,342 shares in the last quarter. Motiv8 Investments LLC acquired a new position in shares of Chimera Investment during the 1st quarter valued at $131,000. Finally, Sigma Planning Corp acquired a new position in shares of Chimera Investment during the 1st quarter valued at $131,000. 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.

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