Chimera Investment (NYSE:CIM) Downgraded to “Sell” at Zacks Investment Research

Chimera Investment (NYSE:CIMGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, 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 research analysts also recently issued reports on CIM. StockNews.com downgraded shares of Chimera Investment from a “buy” rating to a “hold” rating in a research report on Friday, March 25th. Barclays reduced their price objective on shares of Chimera Investment from $14.00 to $11.00 in a research report on Wednesday, April 27th.

Chimera Investment stock traded down $0.09 during mid-day trading on Wednesday, reaching $9.44. 2,136,101 shares of the company traded hands, compared to its average volume of 2,239,712. The company has a debt-to-equity ratio of 3.45, a current ratio of 6.05 and a quick ratio of 6.05. The firm’s 50 day moving average price is $10.85 and its 200 day moving average price is $13.25. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 13.30 and a beta of 1.01. Chimera Investment has a 52-week low of $9.20 and a 52-week high of $16.85.

Chimera Investment (NYSE:CIMGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $137.70 million for the quarter, compared to the consensus estimate of $141.03 million. Chimera Investment had a net margin of 27.85% and a return on equity of 14.02%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 EPS. On average, sell-side analysts anticipate that Chimera Investment will post 1.51 EPS for the current year.

Several large investors have recently added to or reduced their stakes in CIM. Worth Asset Management LLC purchased a new stake in shares of Chimera Investment in the 1st quarter worth about $30,000. Sound Income Strategies LLC grew its position in Chimera Investment by 1,200.5% during the 1st quarter. Sound Income Strategies LLC now owns 2,601 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 2,401 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in Chimera Investment during the 3rd quarter valued at about $36,000. Tompkins Financial Corp purchased a new stake in Chimera Investment during the 1st quarter valued at about $36,000. Finally, CWM LLC purchased a new stake in Chimera Investment during the 4th quarter valued at about $58,000. 53.05% of the stock is currently owned by hedge funds and other institutional investors.

About Chimera Investment (Get Rating)

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 and non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of residential, commercial mortgage loans, and other real estate related securities.

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