CHIMERA INVT CO/SH NEW (CIM) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of CHIMERA INVT CO/SH NEW (NYSE:CIM) from a hold rating to a buy rating in a report published on Monday. The brokerage currently has $21.00 target price on the real estate investment trust’s stock.

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 analysts have also recently issued reports on CIM. Deutsche Bank raised shares of CHIMERA INVT CO/SH NEW from a hold rating to a buy rating and cut their price target for the company from $19.00 to $18.50 in a report on Wednesday, October 24th. Raymond James assumed coverage on shares of CHIMERA INVT CO/SH NEW in a report on Thursday, October 11th. They issued a market perform rating on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of $19.30.

CIM opened at $18.77 on Monday. The firm has a market capitalization of $3.48 billion, a P/E ratio of 8.02 and a beta of 0.48. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.02 and a current ratio of 0.02. CHIMERA INVT CO/SH NEW has a 12-month low of $15.77 and a 12-month high of $19.35.

CHIMERA INVT CO/SH NEW (NYSE:CIM) last posted its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $147.04 million for the quarter, compared to analysts’ expectations of $141.90 million. CHIMERA INVT CO/SH NEW had a net margin of 50.69% and a return on equity of 12.52%. During the same period in the prior year, the company posted $0.69 earnings per share. As a group, equities research analysts anticipate that CHIMERA INVT CO/SH NEW will post 2.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, December 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, December 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 10.66%. CHIMERA INVT CO/SH NEW’s dividend payout ratio (DPR) is 85.47%.

Several large investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of CHIMERA INVT CO/SH NEW by 0.8% during the second quarter. BlackRock Inc. now owns 11,445,240 shares of the real estate investment trust’s stock worth $209,219,000 after purchasing an additional 88,719 shares during the period. Northern Trust Corp raised its holdings in shares of CHIMERA INVT CO/SH NEW by 35.1% during the second quarter. Northern Trust Corp now owns 2,319,081 shares of the real estate investment trust’s stock worth $42,393,000 after purchasing an additional 602,018 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of CHIMERA INVT CO/SH NEW by 320.3% during the second quarter. Advisors Asset Management Inc. now owns 2,283,183 shares of the real estate investment trust’s stock worth $3,178,000 after purchasing an additional 1,739,971 shares during the period. Wells Fargo & Company MN raised its holdings in shares of CHIMERA INVT CO/SH NEW by 183.2% during the third quarter. Wells Fargo & Company MN now owns 1,821,437 shares of the real estate investment trust’s stock worth $33,022,000 after purchasing an additional 1,178,260 shares during the period. Finally, FMR LLC raised its holdings in shares of CHIMERA INVT CO/SH NEW by 0.6% during the second quarter. FMR LLC now owns 1,595,400 shares of the real estate investment trust’s stock worth $29,164,000 after purchasing an additional 9,200 shares during the period. 47.40% of the stock is currently owned by institutional investors.

About CHIMERA INVT CO/SH NEW

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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