Chimera Investment (NYSE:CIM) Reaches New 12-Month Low at $4.75

Chimera Investment Co. (NYSE:CIM – Get Rating) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $4.75 and last traded at $4.78, with a volume of 663302 shares changing hands. The stock had previously closed at $4.92.

Analyst Ratings Changes

A number of brokerages recently commented on CIM. StockNews.com began coverage on Chimera Investment in a research report on Thursday, May 18th. They set a “hold” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $7.00 price objective on shares of Chimera Investment in a report on Tuesday, March 7th. Finally, Credit Suisse Group reduced their price objective on Chimera Investment from $6.50 to $5.50 in a report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Chimera Investment has a consensus rating of “Hold” and an average target price of $7.17.

Chimera Investment Price Performance

The stock has a fifty day moving average price of $5.31 and a 200 day moving average price of $6.09. The company has a debt-to-equity ratio of 2.86, a current ratio of 0.09 and a quick ratio of 0.09.

Chimera Investment (NYSE:CIM – Get Rating) last posted its earnings results on Thursday, May 4th. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). Chimera Investment had a positive return on equity of 9.79% and a negative net margin of 25.38%. The business had revenue of $189.25 million for the quarter, compared to analysts’ expectations of $86.60 million. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Analysts anticipate that Chimera Investment Co. will post 0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Chimera Investment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in Chimera Investment by 1,302.0% during the first quarter. Bank of America Corp DE now owns 2,132,046 shares of the real estate investment trust’s stock worth $12,025,000 after purchasing an additional 1,979,970 shares during the last quarter. Norges Bank bought a new position in Chimera Investment during the 4th quarter valued at approximately $10,395,000. Barclays PLC raised its position in Chimera Investment by 722.7% during the 4th quarter. Barclays PLC now owns 1,297,291 shares of the real estate investment trust’s stock valued at $7,136,000 after purchasing an additional 1,139,605 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Chimera Investment by 113.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,668,559 shares of the real estate investment trust’s stock valued at $20,090,000 after purchasing an additional 885,442 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its position in Chimera Investment by 50.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,472,143 shares of the real estate investment trust’s stock valued at $7,685,000 after purchasing an additional 493,047 shares during the last quarter. 47.06% of the stock is currently owned by hedge funds and other institutional investors.

About Chimera Investment

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Chimera Investment Corp. is a real estate investment trust, which engages in the business of investing in a portfolio of mortgage assets, including residential mortgage loans, Agency RMBS, Non-Agency RMBS, Agency CMBS, and other real estate-related assets. The company was founded on June 1, 2007 and is headquartered in New York, NY.