Chimera Investment (NYSE:CIM) Hits New 12-Month Low – Here’s What Happened

Chimera Investment Corporation (NYSE:CIM) shares reached a new 52-week low on Monday. The stock traded as low as $9.12 and last traded at $9.2250, with a volume of 70279 shares traded. The stock had previously closed at $9.26.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CIM. Keefe, Bruyette & Woods lowered 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 report on Thursday, August 6th. Weiss Ratings downgraded shares of Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 18th. Finally, Wall Street Zen upgraded shares of Chimera Investment from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.50.

Chimera Investment Price Performance

The business has a fifty day moving average of $11.28 and a 200-day moving average of $12.52. The firm has a market cap of $768.04 million, a PE ratio of -9.00 and a beta of 1.72. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 2.34.

Chimera Investment (NYSE:CIM) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $95.30 million.

Chimera Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 19.6%. The ex-dividend date is Wednesday, September 30th. Chimera Investment’s dividend payout ratio (DPR) is -176.47%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CIM. Nykredit A S bought a new position in shares of Chimera Investment in the second quarter worth $29,000. Integrated Wealth Concepts LLC bought a new stake in Chimera Investment during the second quarter valued at $46,000. Public Employees Retirement System of Ohio purchased a new position in Chimera Investment during the second quarter worth about $60,000. Global Retirement Partners LLC bought a new position in Chimera Investment in the 2nd quarter worth about $79,000. Finally, IFP Advisors Inc increased its stake in Chimera Investment by 52.5% in the 2nd quarter. IFP Advisors Inc now owns 10,412 shares of the real estate investment trust’s stock worth $139,000 after acquiring an additional 3,586 shares during the last quarter. 48.44% of the stock is owned by institutional investors.

About Chimera Investment

Chimera Investment Corporation is a real estate investment trust (REIT) focused on investing in residential mortgage assets. The company seeks to generate income primarily through a portfolio of mortgage loans and mortgage-backed securities, including agency and non-agency residential mortgage-backed securities.

Its investments may include performing and non-performing residential mortgage loans, residential mortgage-backed securities and other mortgage-related assets. Agency securities are generally backed by government-sponsored enterprises or U.S.