Chimera Investment (NYSE:CIM) Hits New 52-Week Low – Here’s What Happened

Shares of Chimera Investment Corporation (NYSE:CIM) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $10.86 and last traded at $10.8710, with a volume of 1473346 shares changing hands. The stock had previously closed at $11.08.

Wall Street Analysts Forecast Growth

CIM has been the topic of several recent research reports. Wall Street Zen upgraded Chimera Investment from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $14.00 price objective on shares of Chimera Investment in a research note on Wednesday, June 3rd. Weiss Ratings raised Chimera Investment from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Finally, Keefe, Bruyette & Woods reduced their price target on Chimera Investment from $15.00 to $14.00 and set a “market perform” rating for the company in a report on Thursday, August 6th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.50.

Chimera Investment Trading Up 1.2%

The firm’s 50 day moving average price is $11.98 and its 200-day moving average price is $12.83. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a market cap of $922.84 million, a P/E ratio of -10.81 and a beta of 1.66.

Chimera Investment (NYSE:CIM) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the consensus estimate 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 announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 16.3%. Chimera Investment’s dividend payout ratio (DPR) is presently -176.47%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of 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 position 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 buying an additional 35,621 shares during the last quarter. Allianz Asset Management GmbH raised its position 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 buying an additional 147,119 shares during the last quarter. First Trust Advisors LP lifted its stake in Chimera Investment by 82.0% during the 1st quarter. First Trust Advisors LP now owns 543,101 shares of the real estate investment trust’s stock valued at $6,816,000 after acquiring an additional 244,763 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Chimera Investment by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 417,899 shares of the real estate investment trust’s stock valued at $5,575,000 after acquiring an additional 10,501 shares during the period. 48.44% of the stock is owned by institutional investors.

Chimera Investment Company Profile

Chimera Investment Corporation is a real estate investment trust that invests in residential mortgage assets. The company’s portfolio has historically included residential mortgage-backed securities, residential mortgage loans and other mortgage-related investments, including both agency and non-agency assets.

Chimera seeks to generate income from the interest and cash flows associated with its investments. Its activities are primarily focused on the U.S. residential housing and mortgage markets, and the company may invest in assets with different levels of credit and prepayment risk.

Founded in 2007, Chimera is externally managed and has operated as a mortgage-focused REIT.