Chimera Investment (NYSE:CIM) Downgraded by Royal Bank Of Canada to Sector Perform

Royal Bank Of Canada downgraded shares of Chimera Investment (NYSE:CIM) from an outperform rating to a sector perform rating in a research report report published on Tuesday morning, Marketbeat.com reports. The brokerage currently has $13.00 price objective on the real estate investment trust’s stock.

CIM has been the topic of several other reports. Weiss Ratings reissued a “sell (d)” rating on shares of Chimera Investment in a research note on Monday, December 1st. UBS Group cut their price objective on shares of Chimera Investment from $16.00 to $15.50 and set a “buy” rating for the company in a report on Tuesday, November 18th. Finally, Wall Street Zen raised shares of Chimera Investment from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Chimera Investment currently has an average rating of “Hold” and a consensus price target of $14.50.

Chimera Investment Stock Performance

Shares of NYSE:CIM opened at $12.59 on Tuesday. The company has a debt-to-equity ratio of 4.75, a current ratio of 8.22 and a quick ratio of 8.22. Chimera Investment has a 1 year low of $9.85 and a 1 year high of $15.37. The firm has a market capitalization of $1.05 billion, a PE ratio of -31.46 and a beta of 1.83. The business’s 50 day moving average price is $12.68 and its 200-day moving average price is $13.43.

Chimera Investment (NYSE:CIM) last posted its quarterly earnings data on Monday, March 6th. The real estate investment trust reported $0.46 EPS for the quarter. The firm had revenue of ($60.05) million during the quarter. Chimera Investment had a return on equity of 7.36% and a net margin of 4.27%. As a group, equities research analysts expect that Chimera Investment will post 1.57 earnings per share for the current fiscal year.

Chimera Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, September 30th were issued a $0.37 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 11.8%. Chimera Investment’s dividend payout ratio is currently -370.00%.

Institutional Investors Weigh In On Chimera Investment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wedbush Securities Inc. lifted its stake in shares of Chimera Investment by 3.2% in the 3rd quarter. Wedbush Securities Inc. now owns 29,430 shares of the real estate investment trust’s stock valued at $389,000 after purchasing an additional 917 shares during the last quarter. VSM Wealth Advisory LLC lifted its position in Chimera Investment by 64.3% in the third quarter. VSM Wealth Advisory LLC now owns 2,391 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 936 shares during the last quarter. Cetera Investment Advisers lifted its position in Chimera Investment by 6.1% in the second quarter. Cetera Investment Advisers now owns 19,926 shares of the real estate investment trust’s stock valued at $276,000 after buying an additional 1,143 shares during the last quarter. Moloney Securities Asset Management LLC boosted its stake in Chimera Investment by 13.6% during the second quarter. Moloney Securities Asset Management LLC now owns 11,447 shares of the real estate investment trust’s stock worth $159,000 after buying an additional 1,367 shares during the period. Finally, Intech Investment Management LLC increased its position in shares of Chimera Investment by 4.5% during the third quarter. Intech Investment Management LLC now owns 33,098 shares of the real estate investment trust’s stock valued at $438,000 after acquiring an additional 1,421 shares during the last quarter. Institutional investors and hedge funds 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.