Chimera Investment (NYSE:CIM) Given New $7.00 Price Target at Royal Bank Of Canada

Chimera Investment (NYSE:CIM) had its price objective reduced by equities research analysts at Royal Bank Of Canada from $13.00 to $7.00 in a report issued on Friday, Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank Of Canada‘s price objective would suggest a potential upside of 8.36% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 18th. Keefe, Bruyette & Woods reduced their target price on shares of Chimera Investment from $13.00 to $11.50 and set a “market perform” rating for the company in a report on Monday. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.33.

Chimera Investment Stock Performance

NYSE:CIM traded down $0.17 during mid-day trading on Friday, reaching $6.46. The company’s stock had a trading volume of 425,508 shares, compared to its average volume of 961,942. The company has a current ratio of 0.05, a quick ratio of 0.07 and a debt-to-equity ratio of 2.46. Chimera Investment has a 12-month low of $6.37 and a 12-month high of $14.18. The stock has a market cap of $540.77 million, a P/E ratio of -2.11 and a beta of 1.75. The firm’s fifty day moving average price is $9.32 and its two-hundred day moving average price is $12.05.

Chimera Investment (NYSE:CIM) last released its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.07). Chimera Investment had a negative net margin of 19.11% and a positive return on equity of 10.31%. The firm had revenue of ($118.00) million for the quarter, compared to the consensus estimate of $103.10 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nykredit A S acquired a new stake in Chimera Investment during the 2nd quarter worth approximately $29,000. Integrated Wealth Concepts LLC acquired a new position in Chimera Investment in the second quarter valued at $46,000. Public Employees Retirement System of Ohio acquired a new position in Chimera Investment in the second quarter valued at $60,000. Global Retirement Partners LLC acquired a new position in shares of Chimera Investment in the second quarter valued at approximately $79,000. Finally, IFP Advisors Inc increased its stake in shares of Chimera Investment by 52.5% during the second 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 period. 48.44% of the stock is currently owned by hedge funds and other institutional investors.

Chimera Investment Company Profile

Chimera Investment Corporation is a real estate investment trust (REIT) focused on residential mortgage-related assets. Its investments include residential mortgage loans and residential mortgage-backed securities, as well as commercial mortgage loans and other real estate-related assets. The company seeks to generate income from these assets and may hold them directly or through securitized investments. Its activities are tied primarily to the U.S. mortgage and housing markets. Founded in 2007, Chimera is headquartered in New York.