Chimera Investment (NYSE:CIM) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Chimera Investment Corporation (NYSE:CIM) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.07 and traded as high as $13.52. Chimera Investment shares last traded at $13.2950, with a volume of 877,092 shares.

Wall Street Analyst Weigh In

A number of research firms recently commented on CIM. Weiss Ratings upgraded Chimera Investment from a “sell (d)” rating to a “hold (c-)” rating in a research note on Friday, February 20th. UBS Group dropped their price target on Chimera Investment from $16.00 to $15.50 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Royal Bank Of Canada downgraded shares of Chimera Investment from an “outperform” rating to a “sector perform” rating and set a $13.00 price objective for the company. in a report on Tuesday, December 9th. Finally, Wall Street Zen lowered Chimera Investment from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Chimera Investment presently has a consensus rating of “Hold” and a consensus target price of $14.50.

Chimera Investment Price Performance

The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 7.60 and a beta of 1.80. The company’s 50 day moving average price is $13.15 and its 200 day moving average price is $13.07.

Chimera Investment (NYSE:CIM) last released its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. The business had revenue of $72.01 million during the quarter, compared to analysts’ expectations of $80.77 million. Chimera Investment had a return on equity of 8.73% and a net margin of 28.06%. On average, equities research analysts predict that Chimera Investment Corporation will post 1.57 earnings per share for the current fiscal year.

Chimera Investment Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a $0.45 dividend. This is a positive change from Chimera Investment’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.80 annualized dividend and a dividend yield of 13.5%. Chimera Investment’s dividend payout ratio (DPR) is presently 84.57%.

Institutional Investors Weigh In On Chimera Investment

A number of hedge funds and other institutional investors have recently bought and sold shares of CIM. VSM Wealth Advisory LLC raised its stake in shares of Chimera Investment by 64.3% during the 3rd quarter. VSM Wealth Advisory LLC now owns 2,391 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 936 shares in the last quarter. GAMMA Investing LLC grew its stake in Chimera Investment by 864.7% in the 4th quarter. GAMMA Investing LLC now owns 3,193 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 2,862 shares during the last quarter. Sound Income Strategies LLC bought a new position in shares of Chimera Investment during the third quarter worth approximately $54,000. IFP Advisors Inc boosted its position in shares of Chimera Investment by 1,211.4% in the fourth quarter. IFP Advisors Inc now owns 6,216 shares of the real estate investment trust’s stock valued at $77,000 after acquiring an additional 5,742 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of Chimera Investment by 92.1% in the second quarter. Tower Research Capital LLC TRC now owns 7,140 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 3,423 shares in the last quarter. Institutional investors and hedge funds own 48.44% of the company’s stock.

About Chimera Investment

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.