Chimera Investment (NYSE:CIM) Sets New 1-Year Low – Here’s What Happened

Shares of Chimera Investment Corporation (NYSE:CIM) reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $8.76 and last traded at $8.7250, with a volume of 78,911 shares trading hands. The stock had previously closed at $8.96.

Analysts Set New Price Targets

Several analysts have commented on CIM shares. Keefe, Bruyette & Woods cut their target price on 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. Wall Street Zen raised shares of Chimera Investment from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Finally, Weiss Ratings downgraded shares of Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 18th. 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 company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $14.50.

Chimera Investment Stock Performance

The company has a market cap of $735.39 million, a P/E ratio of -8.61 and a beta of 1.72. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 2.34. The business has a fifty day simple moving average of $10.91 and a two-hundred day simple moving average of $12.39.

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

Chimera Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 20.5%. The ex-dividend date is Wednesday, September 30th. Chimera Investment’s dividend payout ratio is -176.47%.

Institutional Trading of Chimera Investment

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Chimera Investment by 9.5% during the second quarter. BlackRock Inc. now owns 7,855,125 shares of the real estate investment trust’s stock valued at $104,787,000 after buying an additional 681,996 shares during the last quarter. Thornburg Investment Management Inc. raised its holdings in Chimera Investment by 0.7% in the 2nd quarter. Thornburg Investment Management Inc. now owns 5,511,923 shares of the real estate investment trust’s stock worth $73,529,000 after purchasing an additional 35,621 shares during the period. Allianz Asset Management GmbH raised its holdings in Chimera Investment by 6.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,274,507 shares of the real estate investment trust’s stock worth $30,342,000 after purchasing an additional 147,119 shares during the period. State Street Corp lifted its position in Chimera Investment by 7.8% during the second quarter. State Street Corp now owns 2,029,275 shares of the real estate investment trust’s stock valued at $27,957,000 after purchasing an additional 147,629 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Chimera Investment by 82.0% during the first quarter. First Trust Advisors LP now owns 543,101 shares of the real estate investment trust’s stock valued at $6,816,000 after purchasing an additional 244,763 shares in the last quarter. 48.44% of the stock is currently 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.