Chimera Investment (NYSE:CIM) Price Target Cut to $9.50

Chimera Investment (NYSE:CIMGet Rating) had its target price dropped by analysts at Credit Suisse Group to $9.50 in a report released on Friday, Stock Target Advisor reports. Credit Suisse Group’s price target would indicate a potential upside of 0.42% from the stock’s previous close.

CIM has been the subject of several other research reports. Barclays cut their price target on Chimera Investment from $11.00 to $9.00 and set an “underweight” rating for the company in a research note on Monday, July 18th. StockNews.com downgraded Chimera Investment from a “buy” rating to a “hold” rating in a research note on Friday, March 25th.

Chimera Investment Stock Down 1.4 %

Shares of CIM stock opened at $9.46 on Friday. Chimera Investment has a twelve month low of $7.72 and a twelve month high of $16.85. The stock has a market cap of $2.24 billion, a P/E ratio of 13.32 and a beta of 0.99. The stock has a 50 day moving average of $9.21 and a 200 day moving average of $11.26. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 3.45.

Chimera Investment (NYSE:CIMGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Chimera Investment had a net margin of 27.85% and a return on equity of 14.02%. The firm had revenue of $137.70 million for the quarter, compared to the consensus estimate of $141.03 million. During the same period in the prior year, the firm posted $0.36 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts expect that Chimera Investment will post 1.46 EPS for the current year.

Institutional Investors Weigh In On Chimera Investment

Several large investors have recently bought and sold shares of CIM. Worth Asset Management LLC acquired a new stake in shares of Chimera Investment in the first quarter worth approximately $30,000. Sound Income Strategies LLC boosted its stake 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 worth $31,000 after purchasing an additional 2,401 shares during the last quarter. Tompkins Financial Corp purchased a new stake in shares of Chimera Investment during the first quarter worth $36,000. CWM LLC acquired a new stake in shares of Chimera Investment in the fourth quarter valued at about $58,000. Finally, Cardinal Point Wealth Management Partners LLC purchased a new position in shares of Chimera Investment in the second quarter worth about $112,000. 53.05% of the stock is currently owned by hedge funds and other institutional investors.

Chimera Investment Company Profile

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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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