Keefe, Bruyette & Woods Lowers Chimera Investment (NYSE:CIM) Price Target to $14.00

Chimera Investment (NYSE:CIM) had its price target dropped by investment analysts at Keefe, Bruyette & Woods from $15.00 to $14.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 16.87% from the company’s previous close.

Several other research firms have also recently commented on CIM. Wall Street Zen raised shares of Chimera Investment from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Weiss Ratings cut Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $14.00 price target on shares of Chimera Investment in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.50.

Chimera Investment Trading Up 1.0%

NYSE CIM opened at $11.98 on Thursday. Chimera Investment has a one year low of $11.46 and a one year high of $14.88. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market cap of $1.00 billion, a P/E ratio of -11.74 and a beta of 1.67. The stock’s 50-day moving average is $13.01 and its 200-day moving average is $13.14.

Chimera Investment (NYSE:CIM) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.08). Chimera Investment had a net margin of 0.14% and a return on equity of 9.70%. The business had revenue of $94.77 million during the quarter, compared to analyst estimates of $95.30 million.

Hedge Funds Weigh In On Chimera Investment

Hedge funds have recently modified their holdings of the stock. Harbour Investments Inc. grew its position in shares of Chimera Investment by 1.5% in the 4th quarter. Harbour Investments Inc. now owns 68,905 shares of the real estate investment trust’s stock valued at $856,000 after buying an additional 994 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of 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 period. ProShare Advisors LLC raised its position in shares of Chimera Investment by 9.8% during the fourth quarter. ProShare Advisors LLC now owns 14,952 shares of the real estate investment trust’s stock worth $186,000 after acquiring an additional 1,335 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Chimera Investment by 4.5% in the third quarter. Intech Investment Management LLC now owns 33,098 shares of the real estate investment trust’s stock worth $438,000 after acquiring an additional 1,421 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Chimera Investment by 1.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 134,688 shares of the real estate investment trust’s stock worth $1,674,000 after acquiring an additional 1,930 shares during the period. Institutional investors 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.