Chimera Investment (NYSE:CIM) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Chimera Investment (NYSE:CIM) from a hold rating to a buy rating in a report published on Thursday morning.

Several other brokerages have also weighed in on CIM. JMP Securities reissued a “market perform” rating on shares of Chimera Investment in a report on Thursday, January 23rd. UBS Group raised Chimera Investment from a “neutral” rating to a “buy” rating and upped their target price for the company from $11.50 to $15.00 in a report on Wednesday. Finally, Royal Bank of Canada raised Chimera Investment to a “moderate buy” rating in a report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.50.

Chimera Investment Trading Up 3.2%

NYSE:CIM opened at $13.97 on Thursday. The company has a debt-to-equity ratio of 2.82, a quick ratio of 3.03 and a current ratio of 0.06. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 12.93 and a beta of 1.76. Chimera Investment has a one year low of $9.85 and a one year high of $16.89. The business’s 50-day simple moving average is $12.36 and its 200 day simple moving average is $13.76.

Chimera Investment (NYSE:CIM) last announced its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. The firm had revenue of $69.22 million during the quarter, compared to analyst estimates of $72.07 million. Chimera Investment had a return on equity of 7.00% and a net margin of 20.28%. As a group, sell-side analysts predict that Chimera Investment will post 1.57 earnings per share for the current fiscal year.

Chimera Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 10.59%. The ex-dividend date of this dividend was Monday, March 31st. Chimera Investment’s dividend payout ratio (DPR) is 98.67%.

Insider Buying and Selling

In other news, Director Gerard Creagh bought 12,500 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $13.31 per share, for a total transaction of $166,375.00. Following the completion of the transaction, the director now directly owns 138,127 shares of the company’s stock, valued at approximately $1,838,470.37. This trade represents a 9.95% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Chimera Investment

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP lifted its position in Chimera Investment by 1,691.7% in the fourth quarter. Quarry LP now owns 3,243 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 3,062 shares during the period. GAMMA Investing LLC lifted its position in shares of Chimera Investment by 8,728.6% during the 1st quarter. GAMMA Investing LLC now owns 3,708 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 3,666 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Chimera Investment during the 4th quarter valued at $56,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Chimera Investment during the 4th quarter valued at $65,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Chimera Investment during the 4th quarter valued at $111,000. 48.44% of the stock is currently owned by institutional investors and hedge funds.

Chimera Investment Company Profile

Chimera Investment Corporation operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, business purpose and investor loans, and other real estate related securities.