UBS Group Upgrades Chimera Investment (NYSE:CIM) to Buy

UBS Group upgraded shares of Chimera Investment (NYSE:CIM - Free Report) from a neutral rating to a buy rating in a research report report published on Wednesday morning, Marketbeat reports. They currently have $15.00 target price on the real estate investment trust's stock, up from their previous target price of $11.50.

Other analysts have also recently issued reports about the company. Royal Bank of Canada upgraded Chimera Investment to a "moderate buy" rating in a research report on Friday, March 14th. JMP Securities reissued a "market perform" rating on shares of Chimera Investment in a research report on Thursday, January 23rd. Finally, StockNews.com downgraded Chimera Investment from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Chimera Investment presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.50.

Chimera Investment Stock Performance

NYSE:CIM traded down $0.15 during trading hours on Wednesday, reaching $13.90. The company had a trading volume of 332,425 shares, compared to its average volume of 600,916. Chimera Investment has a 1-year low of $9.85 and a 1-year high of $16.89. The firm has a market cap of $1.13 billion, a PE ratio of 12.87 and a beta of 1.76. The business's 50 day moving average price is $12.37 and its 200-day moving average price is $13.73. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.06 and a quick ratio of 3.03.

Chimera Investment (NYSE:CIM - Get Free Report) last announced its earnings results 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. Chimera Investment had a return on equity of 7.00% and a net margin of 20.28%. The business had revenue of $69.22 million during the quarter, compared to the consensus estimate of $72.07 million. Research analysts forecast that Chimera Investment will post 1.57 EPS for the current year.

Chimera Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.65%. The ex-dividend date of this dividend was Monday, March 31st. Chimera Investment's payout ratio is currently 98.67%.

Insider Activity

In other Chimera Investment news, Director Gerard Creagh acquired 12,500 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $13.31 per share, with a total value of $166,375.00. Following the completion of the acquisition, the director now directly owns 138,127 shares of the company's stock, valued at approximately $1,838,470.37. The trade was a 9.95% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.91% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC grew its holdings in Chimera Investment by 12.9% during the first quarter. Empowered Funds LLC now owns 21,322 shares of the real estate investment trust's stock worth $274,000 after acquiring an additional 2,430 shares during the period. Great Lakes Advisors LLC boosted its position in Chimera Investment by 50.5% during the first quarter. Great Lakes Advisors LLC now owns 45,031 shares of the real estate investment trust's stock worth $578,000 after purchasing an additional 15,108 shares in the last quarter. Caxton Associates LLP purchased a new stake in Chimera Investment during the first quarter worth $1,167,000. Dynamic Technology Lab Private Ltd boosted its position in Chimera Investment by 36.1% during the first quarter. Dynamic Technology Lab Private Ltd now owns 16,568 shares of the real estate investment trust's stock worth $213,000 after purchasing an additional 4,399 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Chimera Investment by 8.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 844,590 shares of the real estate investment trust's stock worth $10,836,000 after purchasing an additional 67,362 shares in the last quarter. Institutional investors and hedge funds own 48.44% of the company's stock.

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.