Chimera Investment Corporation (CIM) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Chimera Investment Corporation (NYSE:CIM)‘s stock had its “hold” rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a research report issued on Friday, October 6th. They presently have a $18.50 price objective on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential downside of 3.60% from the company’s previous close.

A number of other brokerages have also issued reports on CIM. BidaskClub upgraded shares of Chimera Investment Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Deutsche Bank AG lifted their price target on shares of Chimera Investment Corporation from $19.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research lowered shares of Chimera Investment Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, ValuEngine raised shares of Chimera Investment Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.83.

Shares of Chimera Investment Corporation (NYSE:CIM) opened at 19.19 on Friday. The stock has a 50 day moving average price of $19.09 and a 200 day moving average price of $19.10. Chimera Investment Corporation has a one year low of $15.23 and a one year high of $20.90. The stock has a market capitalization of $3.60 billion, a P/E ratio of 5.52 and a beta of 0.88.

Chimera Investment Corporation (NYSE:CIM) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.03). Chimera Investment Corporation had a return on equity of 14.27% and a net margin of 63.94%. The firm had revenue of $150.70 million for the quarter, compared to analyst estimates of $149.75 million. During the same quarter last year, the business posted $0.51 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. Equities analysts forecast that Chimera Investment Corporation will post $2.33 earnings per share for the current year.

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Several large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its position in shares of Chimera Investment Corporation by 5.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 115,048 shares of the real estate investment trust’s stock valued at $2,143,000 after buying an additional 5,482 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of Chimera Investment Corporation by 160.6% during the 2nd quarter. Sterling Capital Management LLC now owns 109,062 shares of the real estate investment trust’s stock valued at $2,032,000 after buying an additional 67,206 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Chimera Investment Corporation by 7.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 68,461 shares of the real estate investment trust’s stock valued at $1,275,000 after buying an additional 4,621 shares during the last quarter. NFC Investments LLC grew its position in shares of Chimera Investment Corporation by 1.4% during the 2nd quarter. NFC Investments LLC now owns 862,516 shares of the real estate investment trust’s stock valued at $16,069,000 after buying an additional 11,630 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Chimera Investment Corporation by 5.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,580 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 341 shares during the last quarter. 52.19% of the stock is owned by institutional investors and hedge funds.

About Chimera Investment Corporation

Chimera Investment Corporation is a real estate investment trust (REIT). The company is engaged in the business of investing in a portfolio of mortgage assets, including agency residential mortgage-backed security (RMBS), non-agency RMBS, agency commercial mortgage-backed securities (CMBS), residential mortgage loans and real estate related securities.

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