Chimera Investment (NYSE:CIM) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Chimera Investment Corporation (NYSE:CIM) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.99 and traded as high as $13.38. Chimera Investment shares last traded at $13.2850, with a volume of 424,824 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CIM shares. Wall Street Zen upgraded Chimera Investment from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings cut Chimera Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.50.

Chimera Investment Trading Up 0.2%

The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 2.31. The firm has a market capitalization of $1.11 billion, a P/E ratio of -16.61 and a beta of 1.71. The firm has a 50 day moving average of $13.22 and a 200-day moving average of $12.99.

Chimera Investment (NYSE:CIM) last released its earnings results on Thursday, May 7th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. Chimera Investment had a return on equity of 9.36% and a net margin of 2.27%.The firm had revenue of $32.37 million during the quarter, compared to analysts’ expectations of $102.35 million.

Institutional Investors Weigh In On Chimera Investment

Several institutional investors and hedge funds have recently added to or reduced their stakes in CIM. VSM Wealth Advisory LLC lifted its stake in Chimera Investment by 64.3% during the third quarter. VSM Wealth Advisory LLC now owns 2,391 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 936 shares during the last quarter. GAMMA Investing LLC lifted its stake in Chimera Investment by 864.7% during the fourth quarter. GAMMA Investing LLC now owns 3,193 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 2,862 shares during the last quarter. IFP Advisors Inc lifted its stake in Chimera Investment by 1,211.4% during the fourth 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. Tower Research Capital LLC TRC lifted its stake in Chimera Investment by 92.1% during the second quarter. Tower Research Capital LLC TRC now owns 7,140 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 3,423 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Chimera Investment during the fourth quarter worth $105,000. 48.44% of the stock is currently owned by institutional investors.

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.