Chimera Investment (NYSE:CIM) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Chimera Investment (NYSE:CIM) from a hold rating to a sell rating in a report published on Saturday.

Several other equities research analysts also recently commented on CIM. UBS Group cut their target price on shares of Chimera Investment from $16.00 to $15.50 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Royal Bank Of Canada downgraded shares of Chimera Investment from an “outperform” rating to a “sector perform” rating and set a $13.00 price target for the company. in a research note on Tuesday, December 9th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Chimera Investment in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Chimera Investment currently has an average rating of “Hold” and an average target price of $14.50.

Chimera Investment Trading Down 1.3%

NYSE CIM opened at $13.36 on Friday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 7.64 and a beta of 1.84. Chimera Investment has a twelve month low of $9.85 and a twelve month high of $14.88. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 2.71. The business’s fifty day moving average is $12.92 and its 200 day moving average is $13.10.

Chimera Investment (NYSE:CIM) last posted its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. Chimera Investment had a return on equity of 8.73% and a net margin of 28.06%.The firm had revenue of $72.01 million during the quarter, compared to the consensus estimate of $80.77 million. As a group, sell-side analysts expect that Chimera Investment will post 1.57 EPS for the current fiscal year.

Chimera Investment Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.5%. This is an increase from Chimera Investment’s previous quarterly dividend of $0.37. Chimera Investment’s payout ratio is currently 84.57%.

Hedge Funds Weigh In On Chimera Investment

A number of hedge funds have recently bought and sold shares of CIM. SG Americas Securities LLC acquired a new position in Chimera Investment in the fourth quarter valued at $7,431,000. Wolverine Asset Management LLC raised its position in shares of Chimera Investment by 206.1% in the 2nd quarter. Wolverine Asset Management LLC now owns 761,822 shares of the real estate investment trust’s stock worth $10,566,000 after acquiring an additional 512,909 shares in the last quarter. UBS Group AG lifted its stake in shares of Chimera Investment by 130.7% in the 4th quarter. UBS Group AG now owns 763,691 shares of the real estate investment trust’s stock valued at $9,493,000 after purchasing an additional 432,727 shares during the period. Ritholtz Wealth Management acquired a new position in shares of Chimera Investment in the 4th quarter valued at about $4,977,000. Finally, Allianz Asset Management GmbH boosted its position in shares of Chimera Investment by 21.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,671,318 shares of the real estate investment trust’s stock valued at $22,095,000 after purchasing an additional 297,709 shares in the last quarter. 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.