Royal Bank of Canada Reiterates Outperform Rating for Chimera Investment (NYSE:CIM)

Chimera Investment (NYSE:CIM – Get Rating)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank of Canada in a research note issued on Tuesday, Benzinga reports. They presently have a $7.00 target price on the real estate investment trust’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 16.09% from the company’s previous close.

Chimera Investment Stock Performance

Shares of Chimera Investment stock opened at $6.03 on Tuesday. The company has a market cap of $1.40 billion, a PE ratio of -2.42 and a beta of 1.51. Chimera Investment has a 52 week low of $4.91 and a 52 week high of $12.73. The business has a 50 day moving average price of $6.66 and a 200-day moving average price of $6.71. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 2.69.

Chimera Investment (NYSE:CIM – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). The company had revenue of $187.29 million during the quarter, compared to analysts’ expectations of $97.90 million. Chimera Investment had a positive return on equity of 11.35% and a negative net margin of 66.36%. During the same period last year, the company earned $0.46 earnings per share. Equities analysts anticipate that Chimera Investment will post 0.78 earnings per share for the current fiscal year.

Institutional Trading of Chimera Investment

A number of institutional investors and hedge funds have recently modified their holdings of the business. LPL Financial LLC increased its position in shares of Chimera Investment by 0.9% during the second quarter. LPL Financial LLC now owns 121,754 shares of the real estate investment trust’s stock valued at $1,074,000 after acquiring an additional 1,096 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Chimera Investment by 6.4% during the first quarter. Mackenzie Financial Corp now owns 24,728 shares of the real estate investment trust’s stock valued at $298,000 after acquiring an additional 1,493 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Chimera Investment by 0.5% during the third quarter. Mercer Global Advisors Inc. ADV now owns 319,647 shares of the real estate investment trust’s stock valued at $1,669,000 after purchasing an additional 1,558 shares during the period. Thrivent Financial for Lutherans grew its holdings in Chimera Investment by 2.2% during the third quarter. Thrivent Financial for Lutherans now owns 74,942 shares of the real estate investment trust’s stock valued at $391,000 after purchasing an additional 1,600 shares during the period. Finally, Bank of Montreal Can grew its holdings in Chimera Investment by 14.1% during the second quarter. Bank of Montreal Can now owns 13,044 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 1,611 shares during the period. 47.06% of the stock is owned by hedge funds and other institutional investors.

Chimera Investment Company Profile

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Chimera Investment Corp. is a real estate investment trust, which engages 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 company was founded on June 1, 2007 and is headquartered in New York, NY.