Chimera Investment (NYSE:CIM) Sets New 12-Month Low – Time to Sell?

Chimera Investment Corporation (NYSE:CIM)’s stock price hit a new 52-week low on Thursday . The stock traded as low as $11.28 and last traded at $11.3450, with a volume of 64666 shares traded. The stock had previously closed at $11.50.

Analyst Ratings Changes

CIM has been the subject of a number of recent research reports. Wall Street Zen upgraded Chimera Investment from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Keefe, Bruyette & Woods decreased their price target on shares of Chimera Investment from $15.00 to $14.00 and set a “market perform” rating on the stock in a research note on Thursday, August 6th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $14.00 price target on shares of Chimera Investment in a report on Wednesday, June 3rd. Finally, Weiss Ratings upgraded shares of Chimera Investment from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, August 17th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.50.

Chimera Investment Trading Down 0.4%

The company has a debt-to-equity ratio of 2.34, a current ratio of 0.07 and a quick ratio of 0.07. The business’s 50 day simple moving average is $12.14 and its 200 day simple moving average is $12.90. The stock has a market cap of $932.13 million, a P/E ratio of -10.92 and a beta of 1.66.

Chimera Investment (NYSE:CIM) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.46 earnings per share 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 9.82%. The company had revenue of $94.77 million during the quarter, compared to the consensus estimate of $95.30 million.

Institutional Trading of Chimera Investment

A number of large investors have recently bought and sold shares of CIM. Nykredit A S acquired a new position in Chimera Investment during the second quarter worth $29,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Chimera Investment in the 2nd quarter valued at $46,000. Public Employees Retirement System of Ohio bought a new stake in shares of Chimera Investment in the 2nd quarter worth about $60,000. IFP Advisors Inc grew its holdings in shares of Chimera Investment by 1,211.4% in the 4th quarter. IFP Advisors Inc now owns 6,216 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 5,742 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in shares of Chimera Investment during the 2nd quarter worth about $79,000. 48.44% of the stock is currently owned by institutional investors.

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.