Chimera Investment (NYSE:CIM) Upgraded at UBS Group

UBS Group upgraded shares of Chimera Investment (NYSE:CIM) from a neutral rating to a buy rating in a research report released on Wednesday, MarketBeat.com reports. The brokerage currently has $15.00 target price on the real estate investment trust’s stock, up from their previous target price of $11.50.

CIM has been the topic of several other reports. StockNews.com downgraded Chimera Investment from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. JMP Securities restated a “market perform” rating on shares of Chimera Investment in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada upgraded Chimera Investment to a “moderate buy” rating in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Chimera Investment Stock Up 0.3%

CIM opened at $14.04 on Wednesday. The business’s fifty day moving average is $12.37 and its two-hundred day moving average is $13.75. The company has a debt-to-equity ratio of 2.82, a quick ratio of 3.03 and a current ratio of 0.06. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 13.00 and a beta of 1.76. Chimera Investment has a one year low of $9.85 and a one year high of $16.89.

Chimera Investment (NYSE:CIM) last posted its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Chimera Investment had a return on equity of 7.00% and a net margin of 20.28%. The business had revenue of $69.22 million for the quarter, compared to analyst estimates of $72.07 million. Analysts anticipate that Chimera Investment will post 1.57 EPS for the current fiscal year.

Chimera Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 10.54%. The ex-dividend date was Monday, March 31st. Chimera Investment’s dividend payout ratio is presently 98.67%.

Insiders Place Their Bets

In related news, Director Gerard Creagh purchased 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $13.31 per share, with a total value of $166,375.00. Following the acquisition, the director now owns 138,127 shares in the company, valued at approximately $1,838,470.37. This trade represents a 9.95% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.91% of the stock is currently owned by company insiders.

Institutional Trading of Chimera Investment

Several hedge funds have recently made changes to their positions in CIM. Barclays PLC increased its position in shares of Chimera Investment by 301.6% during the 3rd quarter. Barclays PLC now owns 183,295 shares of the real estate investment trust’s stock valued at $2,901,000 after purchasing an additional 137,655 shares during the period. Prudential Financial Inc. grew its holdings in shares of Chimera Investment by 79.0% in the 4th quarter. Prudential Financial Inc. now owns 56,659 shares of the real estate investment trust’s stock worth $793,000 after acquiring an additional 25,000 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Chimera Investment by 84.7% in the 4th quarter. JPMorgan Chase & Co. now owns 309,935 shares of the real estate investment trust’s stock worth $4,339,000 after acquiring an additional 142,105 shares during the last quarter. Manning & Napier Advisors LLC boosted its position in shares of Chimera Investment by 66.7% in the fourth quarter. Manning & Napier Advisors LLC now owns 100,000 shares of the real estate investment trust’s stock worth $1,400,000 after buying an additional 40,000 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Chimera Investment in the fourth quarter worth $468,000. Institutional investors own 48.44% of the company’s stock.

About Chimera Investment

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