Chimera Investment (NYSE:CIM) Trading Down 3.6% – Should You Sell?

Chimera Investment Corporation (NYSE:CIM) traded down 3.6% during mid-day trading on Wednesday . The stock traded as low as $12.37 and last traded at $12.3350. 248,790 shares traded hands during trading, a decline of 60% from the average session volume of 616,981 shares. The stock had previously closed at $12.80.

Wall Street Analysts Forecast Growth

CIM has been the subject of a number of research reports. Royal Bank Of Canada lowered Chimera Investment from an “outperform” rating to a “sector perform” rating and set a $13.00 price target for the company. in a research note on Tuesday, December 9th. Wall Street Zen raised Chimera Investment from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chimera Investment in a research report on Monday. Finally, UBS Group reduced their price objective on shares of Chimera Investment from $16.00 to $15.50 and set a “buy” rating for the company in a research report on Tuesday, November 18th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.50.

Chimera Investment Stock Performance

The firm has a 50-day simple moving average of $12.60 and a two-hundred day simple moving average of $13.35. The company has a current ratio of 8.22, a quick ratio of 8.22 and a debt-to-equity ratio of 4.75. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -31.10 and a beta of 1.83.

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

Chimera Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 11.9%. The ex-dividend date is Wednesday, December 31st. Chimera Investment’s dividend payout ratio is presently -370.00%.

Institutional Investors Weigh In On Chimera Investment

Several hedge funds and other institutional investors have recently made changes to their positions in CIM. JPMorgan Chase & Co. lifted its holdings in Chimera Investment by 27.9% in the third quarter. JPMorgan Chase & Co. now owns 315,117 shares of the real estate investment trust’s stock valued at $4,166,000 after buying an additional 68,646 shares during the period. Tudor Investment Corp ET AL raised its position in shares of Chimera Investment by 34.9% during the 3rd quarter. Tudor Investment Corp ET AL now owns 320,209 shares of the real estate investment trust’s stock valued at $4,233,000 after acquiring an additional 82,883 shares during the last quarter. Caxton Associates LLP lifted its stake in shares of Chimera Investment by 12.2% in the 3rd quarter. Caxton Associates LLP now owns 102,060 shares of the real estate investment trust’s stock valued at $1,349,000 after purchasing an additional 11,080 shares during the period. XTX Topco Ltd bought a new position in shares of Chimera Investment in the 3rd quarter worth $913,000. Finally, Verition Fund Management LLC grew its stake in shares of Chimera Investment by 17.4% during the third quarter. Verition Fund Management LLC now owns 57,806 shares of the real estate investment trust’s stock worth $764,000 after purchasing an additional 8,567 shares during the period. 48.44% of the stock is owned by institutional investors and hedge funds.

Chimera Investment Company Profile

Chimera Investment Corporation (NYSE: CIM) is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company’s portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.

The firm’s core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.