CHIMERA INVT CO/SH NEW (NYSE:CIM) Receives Average Recommendation of “Buy” from Brokerages

Shares of CHIMERA INVT CO/SH NEW (NYSE:CIM) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $12.70.

A number of equities research analysts have commented on CIM shares. ValuEngine upgraded CHIMERA INVT CO/SH NEW from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 6th. Barclays restated a “hold” rating and issued a $9.00 target price (down previously from $20.00) on shares of CHIMERA INVT CO/SH NEW in a research report on Wednesday, April 29th. Nomura restated a “buy” rating and issued a $12.00 target price on shares of CHIMERA INVT CO/SH NEW in a research report on Thursday, April 30th. Royal Bank of Canada reduced their target price on CHIMERA INVT CO/SH NEW from $23.00 to $11.00 and set an “outperform” rating on the stock in a research report on Monday, May 18th. Finally, TheStreet downgraded CHIMERA INVT CO/SH NEW from a “c-” rating to a “d” rating in a research report on Wednesday, May 6th.

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp grew its stake in shares of CHIMERA INVT CO/SH NEW by 10.0% in the first quarter. State Street Corp now owns 3,608,282 shares of the real estate investment trust’s stock valued at $34,587,000 after buying an additional 329,268 shares in the last quarter. Geode Capital Management LLC grew its stake in CHIMERA INVT CO/SH NEW by 6.4% during the 4th quarter. Geode Capital Management LLC now owns 2,737,128 shares of the real estate investment trust’s stock worth $56,734,000 after purchasing an additional 165,496 shares in the last quarter. Norges Bank acquired a new position in CHIMERA INVT CO/SH NEW during the 4th quarter worth $45,140,000. Charles Schwab Investment Management Inc. grew its stake in CHIMERA INVT CO/SH NEW by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,861,176 shares of the real estate investment trust’s stock worth $38,266,000 after purchasing an additional 59,365 shares in the last quarter. Finally, FMR LLC grew its stake in CHIMERA INVT CO/SH NEW by 0.3% during the 1st quarter. FMR LLC now owns 1,468,559 shares of the real estate investment trust’s stock worth $27,521,000 after purchasing an additional 3,947 shares in the last quarter. 45.54% of the stock is owned by institutional investors and hedge funds.

CHIMERA INVT CO/SH NEW stock traded down $0.77 during trading on Friday, reaching $9.33. 25,738,045 shares of the company were exchanged, compared to its average volume of 5,090,291. CHIMERA INVT CO/SH NEW has a 52-week low of $6.42 and a 52-week high of $22.99. The company has a market capitalization of $1.85 billion, a P/E ratio of -11.66 and a beta of 0.91. The company has a debt-to-equity ratio of 2.46, a current ratio of 0.05 and a quick ratio of 0.05. The stock’s 50 day simple moving average is $9.14 and its two-hundred day simple moving average is $14.84.

CHIMERA INVT CO/SH NEW (NYSE:CIM) last posted its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.25. CHIMERA INVT CO/SH NEW had a positive return on equity of 12.02% and a negative net margin of 7.15%. The company had revenue of $155.18 million for the quarter, compared to the consensus estimate of $114.70 million. As a group, equities analysts forecast that CHIMERA INVT CO/SH NEW will post 1.41 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, June 22nd will be paid a $0.30 dividend. The ex-dividend date is Friday, June 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.86%. CHIMERA INVT CO/SH NEW’s payout ratio is presently 53.33%.

CHIMERA INVT CO/SH NEW Company Profile

Chimera Investment Corporation operates as a real estate investment trust in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency and non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, commercial mortgage loans, and other real estate related securities.

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