Chimera Investment (NYSE:CIM) Upgraded at StockNews.com

StockNews.com upgraded shares of Chimera Investment (NYSE:CIM) from a hold rating to a buy rating in a research report report published on Thursday.

Several other research firms have also recently issued reports on CIM. UBS Group upgraded shares of Chimera Investment from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $11.50 to $15.00 in a research report on Wednesday. JMP Securities reiterated a “market perform” rating on shares of Chimera Investment in a report on Thursday, January 23rd. Finally, Royal Bank of Canada raised shares of Chimera Investment to a “moderate buy” rating in a report on Friday, March 14th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Chimera Investment has an average rating of “Moderate Buy” and an average target price of $15.50.

Chimera Investment Trading Up 0.3%

Shares of CIM stock opened at $14.04 on Thursday. 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 stock has a fifty day simple moving average of $12.37 and a two-hundred day simple moving average of $13.74. The firm has a market capitalization of $1.14 billion, a PE ratio of 13.00 and a beta of 1.76. Chimera Investment has a 52-week low of $9.85 and a 52-week high of $16.89.

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

Chimera Investment Announces Dividend

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

Insider Activity at Chimera Investment

In related news, Director Gerard Creagh purchased 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average price of $13.31 per share, for a total transaction of $166,375.00. Following the completion of the transaction, the director now owns 138,127 shares in the company, valued at approximately $1,838,470.37. The trade was a 9.95% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.91% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chimera Investment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes 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 last quarter. Franklin Resources Inc. increased its position in Chimera Investment by 10.1% during the third quarter. Franklin Resources Inc. now owns 85,236 shares of the real estate investment trust’s stock valued at $1,302,000 after acquiring an additional 7,825 shares during the last quarter. SG Americas Securities LLC increased its position in Chimera Investment by 39.2% during the fourth quarter. SG Americas Securities LLC now owns 21,138 shares of the real estate investment trust’s stock valued at $296,000 after acquiring an additional 5,951 shares during the last quarter. Manning & Napier Advisors LLC raised its stake 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 valued at $1,400,000 after acquiring an additional 40,000 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Chimera Investment in the 4th quarter worth about $264,000. 48.44% of the stock is currently owned by hedge funds and other institutional investors.

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.