Chimera Investment (NYSE:CIM) Price Target Cut to $14.00 by Analysts at Keefe, Bruyette & Woods
by Kim Johansen · The Markets DailyChimera Investment (NYSE:CIM – Get Free Report) had its price objective dropped by equities research analysts at Keefe, Bruyette & Woods from $15.00 to $14.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 18.15% from the company’s previous close.
Several other equities research analysts have also recently weighed in on the stock. Royal Bank Of Canada restated a “sector perform” rating and issued a $14.00 price objective on shares of Chimera Investment in a research report on Wednesday, June 3rd. Wall Street Zen raised shares of Chimera Investment from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Finally, Weiss Ratings lowered shares of Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.50.
View Our Latest Stock Report on Chimera Investment
Chimera Investment Price Performance
Chimera Investment stock opened at $11.85 on Thursday. The business’s fifty day moving average is $13.08 and its two-hundred day moving average is $13.16. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.08 and a current ratio of 0.08. Chimera Investment has a 52 week low of $11.46 and a 52 week high of $14.88. The firm has a market cap of $991.12 million, a P/E ratio of -14.81 and a beta of 1.67.
Chimera Investment (NYSE:CIM – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.08). Chimera Investment had a return on equity of 9.36% and a net margin of 2.27%.The company had revenue of $94.77 million for the quarter, compared to analyst estimates of $95.30 million.
Institutional Trading of Chimera Investment
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Chimera Investment by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 7,651,505 shares of the real estate investment trust’s stock valued at $95,108,000 after purchasing an additional 208,112 shares in the last quarter. Thornburg Investment Management Inc. grew its holdings in shares of Chimera Investment by 5.0% during the fourth quarter. Thornburg Investment Management Inc. now owns 5,268,481 shares of the real estate investment trust’s stock worth $65,487,000 after buying an additional 249,127 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Chimera Investment by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,975,021 shares of the real estate investment trust’s stock worth $24,554,000 after buying an additional 43,419 shares in the last quarter. Balyasny Asset Management L.P. raised its position in Chimera Investment by 2.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,547,432 shares of the real estate investment trust’s stock valued at $21,463,000 after buying an additional 35,425 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Chimera Investment by 7.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 982,889 shares of the real estate investment trust’s stock valued at $12,994,000 after buying an additional 66,031 shares during the last quarter. Institutional investors and hedge funds own 48.44% of the company’s stock.
About Chimera Investment
Chimera Investment Corporation (NYSE: CIM) is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company’s portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.
The firm’s core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.