Brokerages Set CHIMERA INVT CO/SH NEW (NYSE:CIM) Price Target at $12.70

CHIMERA INVT CO/SH NEW (NYSE:CIM) has earned an average rating of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $12.70.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised CHIMERA INVT CO/SH NEW from a “strong sell” rating to a “strong-buy” rating and set a $12.00 price target on the stock in a research report on Monday, June 8th. Royal Bank of Canada dropped their price target on CHIMERA INVT CO/SH NEW from $23.00 to $11.00 and set an “outperform” rating on the stock in a research report on Monday, May 18th. ValuEngine raised CHIMERA INVT CO/SH NEW from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 6th. Barclays reissued a “hold” rating and set a $9.00 price target (down previously from $20.00) on shares of CHIMERA INVT CO/SH NEW in a research report on Wednesday, April 29th. Finally, TheStreet downgraded CHIMERA INVT CO/SH NEW from a “c-” rating to a “d” rating in a research report on Wednesday, May 6th.

Shares of NYSE CIM traded down $0.77 during trading hours on Friday, hitting $9.33. 25,738,045 shares of the company traded hands, compared to its average volume of 5,090,291. The company’s 50 day moving average price is $9.14 and its 200 day moving average price is $14.84. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -11.66 and a beta of 0.91. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 2.46. CHIMERA INVT CO/SH NEW has a 12 month low of $6.42 and a 12 month high of $22.99.

CHIMERA INVT CO/SH NEW (NYSE:CIM) last announced its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.25. The company had revenue of $155.18 million for the quarter, compared to the consensus estimate of $114.70 million. CHIMERA INVT CO/SH NEW had a positive return on equity of 12.02% and a negative net margin of 7.15%. Equities analysts anticipate that CHIMERA INVT CO/SH NEW will post 1.41 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, June 22nd will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.86%. The ex-dividend date is Friday, June 19th. CHIMERA INVT CO/SH NEW’s dividend payout ratio (DPR) is currently 53.33%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in CHIMERA INVT CO/SH NEW in the fourth quarter valued at about $45,140,000. Bessemer Group Inc. purchased a new stake in CHIMERA INVT CO/SH NEW in the first quarter valued at about $9,242,000. Advisor Group Holdings Inc. purchased a new stake in CHIMERA INVT CO/SH NEW in the first quarter valued at about $3,986,000. Acadian Asset Management LLC raised its stake in CHIMERA INVT CO/SH NEW by 373.3% in the first quarter. Acadian Asset Management LLC now owns 536,269 shares of the real estate investment trust’s stock valued at $4,880,000 after buying an additional 422,956 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of CHIMERA INVT CO/SH NEW by 10.0% in the first quarter. State Street Corp now owns 3,608,282 shares of the real estate investment trust’s stock valued at $34,587,000 after purchasing an additional 329,268 shares during the period. Hedge funds and other institutional investors own 45.54% of the company’s stock.

CHIMERA INVT CO/SH NEW Company Profile

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

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