Chimera Investment (NYSE:CIM) Downgraded to “Sell” at Zacks Investment Research

Posted by on May 25th, 2022

Chimera Investment (NYSE:CIM – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Chimera Investment Corporation is a publicly traded real estate investment trust, or REIT, that is primarily engaged in real estate finance. It invests, either directly or indirectly through its subsidiaries, in RMBS, residential mortgage loans, Agency CMBS, commercial mortgage loans, real estate-related securities and various other asset classes. The company has elected and is organized and has operated in a manner that enables it to be taxed as a REIT under the Internal Revenue Code. “

Several other equities analysts also recently weighed in on CIM. Barclays reduced their target price on shares of Chimera Investment from $14.00 to $11.00 in a research note on Wednesday, April 27th. StockNews.com downgraded shares of Chimera Investment from a “buy” rating to a “hold” rating in a research note on Friday, March 25th.

Shares of CIM traded down $0.09 during trading hours on Wednesday, reaching $9.44. 2,136,101 shares of the stock traded hands, compared to its average volume of 2,239,712. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 13.30 and a beta of 1.01. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 3.45. Chimera Investment has a 52 week low of $9.20 and a 52 week high of $16.85. The stock has a fifty day simple moving average of $10.85 and a 200 day simple moving average of $13.25.

Chimera Investment (NYSE:CIM – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. The business had revenue of $137.70 million for the quarter, compared to analyst estimates of $141.03 million. Chimera Investment had a net margin of 27.85% and a return on equity of 14.02%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Analysts predict that Chimera Investment will post 1.51 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. Worth Asset Management LLC bought a new stake in Chimera Investment during the first quarter valued at approximately $30,000. Sound Income Strategies LLC lifted its holdings in shares of Chimera Investment by 1,200.5% in the 1st quarter. Sound Income Strategies LLC now owns 2,601 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 2,401 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Chimera Investment in the 3rd quarter worth approximately $36,000. Tompkins Financial Corp bought a new stake in shares of Chimera Investment in the 1st quarter worth approximately $36,000. Finally, CWM LLC bought a new stake in shares of Chimera Investment in the 4th quarter worth approximately $58,000. Institutional investors and hedge funds own 53.05% of the company’s stock.

Chimera Investment Company Profile (Get Rating)

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 and non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of residential, commercial mortgage loans, and other real estate related securities.

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