Chimera Investment (NYSE:CIM) Hits New 1-Year Low - Time to Sell?

Key Points

• Chimera Investment shares fell to a new 52-week low, trading as low as $11.28 and closing near $11.35, below both its 50-day and 200-day moving averages.
• Analyst sentiment is broadly neutral: the stock carries a consensus “Hold” rating with an average price target of $14.50, although one analyst lowered its target to $14.00.
• The REIT missed quarterly earnings expectations, reporting $0.46 EPS versus the $0.54 consensus, while revenue of $94.77 million was slightly below forecasts.

Chimera Investment Corporation (NYSE:CIM - Get Free Report) shares hit a new 52-week low during trading on Thursday . The company traded as low as $11.28 and last traded at $11.3450, with a volume of 64666 shares traded. The stock had previously closed at $11.50.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings upgraded Chimera Investment from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, August 17th. Wall Street Zen raised Chimera Investment from a "sell" rating to a "hold" rating in a research note on Sunday, June 28th. Keefe, Bruyette & Woods lowered their price target on Chimera Investment from $15.00 to $14.00 and set a "market perform" rating on the stock in a report on Thursday, August 6th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $14.00 price target on shares of Chimera Investment in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $14.50.

Chimera Investment Trading Down 1.4%

The company has a 50-day moving average of $12.22 and a 200 day moving average of $12.93. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.07 and a quick ratio of 0.07. The company has a market cap of $948.85 million, a PE ratio of -11.11 and a beta of 1.66.

Chimera Investment (NYSE:CIM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.08). The company had revenue of $94.77 million for the quarter, compared to analysts' expectations of $95.30 million. Chimera Investment had a net margin of 0.14% and a return on equity of 9.82%.

Institutional Trading of Chimera Investment

A number of institutional investors have recently bought and sold shares of CIM. Nykredit A S bought a new position in Chimera Investment during the second quarter valued at $29,000. Integrated Wealth Concepts LLC bought a new stake in shares of Chimera Investment in the 2nd quarter worth about $46,000. Public Employees Retirement System of Ohio purchased a new position in shares of Chimera Investment during the 2nd quarter worth about $60,000. IFP Advisors Inc boosted its stake in shares of Chimera Investment by 1,211.4% during the 4th quarter. IFP Advisors Inc now owns 6,216 shares of the real estate investment trust's stock worth $77,000 after purchasing an additional 5,742 shares during the period. Finally, Global Retirement Partners LLC bought a new position in Chimera Investment during the 2nd quarter valued at about $79,000. 48.44% of the stock is currently owned by institutional investors.

Chimera Investment Company Profile

Chimera Investment Corporation NYSE: CIM is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company's portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.

The firm's core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.

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