Chimera Investment (NYSE:CIM) Upgraded to “Hold” at Zacks Investment Research

Chimera Investment (NYSE:CIMGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Chimera Investment Corporation is a publicly traded real estate investment trust, or REIT, that is primarily engaged in real estate finance. It invests, either directly or indirectly through its subsidiaries, in RMBS, residential mortgage loans, Agency CMBS, commercial mortgage loans, real estate-related securities and various other asset classes. The company has elected and is organized and has operated in a manner that enables it to be taxed as a REIT under the Internal Revenue Code. “

A number of other analysts also recently issued reports on the company. StockNews.com downgraded Chimera Investment from a “buy” rating to a “hold” rating in a research report on Friday, March 25th. Barclays lifted their target price on Chimera Investment from $11.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, January 10th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.50.

Shares of NYSE:CIM traded down $0.32 during trading on Tuesday, hitting $9.83. The company’s stock had a trading volume of 116,349 shares, compared to its average volume of 2,131,908. The company has a 50-day moving average of $11.88 and a 200-day moving average of $14.09. Chimera Investment has a 12 month low of $9.91 and a 12 month high of $16.85. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 4.03 and a beta of 0.95.

Chimera Investment (NYSE:CIMGet Rating) last released its earnings results on Wednesday, February 16th. The real estate investment trust reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.08. Chimera Investment had a net margin of 71.47% and a return on equity of 13.61%. During the same quarter in the previous year, the business posted $0.29 EPS. As a group, research analysts anticipate that Chimera Investment will post 1.51 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CIM. Two Sigma Advisers LP raised its position in Chimera Investment by 10.6% in the 3rd quarter. Two Sigma Advisers LP now owns 135,400 shares of the real estate investment trust’s stock valued at $2,011,000 after purchasing an additional 13,000 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Chimera Investment by 11.0% in the 4th quarter. Avantax Advisory Services Inc. now owns 21,470 shares of the real estate investment trust’s stock valued at $324,000 after purchasing an additional 2,132 shares during the last quarter. United Capital Financial Advisers LLC lifted its holdings in shares of Chimera Investment by 55.1% in the 3rd quarter. United Capital Financial Advisers LLC now owns 16,610 shares of the real estate investment trust’s stock valued at $247,000 after buying an additional 5,900 shares during the period. Qube Research & Technologies Ltd lifted its holdings in shares of Chimera Investment by 266.5% in the 4th quarter. Qube Research & Technologies Ltd now owns 153,306 shares of the real estate investment trust’s stock valued at $2,312,000 after buying an additional 111,472 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Chimera Investment by 24,909.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 70,276 shares of the real estate investment trust’s stock valued at $1,045,000 after buying an additional 69,995 shares during the period. Institutional investors and hedge funds own 51.26% of the company’s stock.

Chimera Investment Company Profile (Get Rating)

Chimera Investment Corp. operates as a real estate investment trust. engaged in the business of investing in a portfolio of mortgage assets, including residential mortgage loans, Agency RMBS, Non-Agency RMBS, Agency CMBS, and other real estate-related assets The firm’s objective is to provide risk-adjusted returns to its investors over the long-term, primarily through dividends and secondarily through capital appreciation.

Featured Stories

Get a free copy of the Zacks research report on Chimera Investment (CIM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Chimera Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chimera Investment and related companies with MarketBeat.com's FREE daily email newsletter.