Credit Suisse Group Downgrades CHIMERA INVT CO/SH NEW (NYSE:CIM) to Neutral

CHIMERA INVT CO/SH NEW (NYSE:CIM) was downgraded by Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research note issued on Wednesday, Marketbeat Ratings reports. They currently have a $19.50 price target on the real estate investment trust’s stock. Credit Suisse Group’s price objective suggests a potential upside of 0.88% from the company’s previous close. The analysts noted that the move was a valuation call.

Separately, Zacks Investment Research cut CHIMERA INVT CO/SH NEW from a “hold” rating to a “sell” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.75.

Shares of CIM opened at $19.33 on Wednesday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.02 and a current ratio of 0.02. CHIMERA INVT CO/SH NEW has a one year low of $16.88 and a one year high of $19.97. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 8.26 and a beta of 0.59. The stock has a 50 day moving average price of $19.35 and a 200 day moving average price of $18.99.

CHIMERA INVT CO/SH NEW (NYSE:CIM) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.02). CHIMERA INVT CO/SH NEW had a return on equity of 12.51% and a net margin of 16.96%. The firm had revenue of $141.80 million for the quarter, compared to analysts’ expectations of $157.07 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts predict that CHIMERA INVT CO/SH NEW will post 2.13 earnings per share for the current year.

Large investors have recently modified their holdings of the business. Advisory Services Network LLC grew its holdings in CHIMERA INVT CO/SH NEW by 4.2% in the 1st quarter. Advisory Services Network LLC now owns 90,099 shares of the real estate investment trust’s stock valued at $1,688,000 after buying an additional 3,591 shares in the last quarter. Martingale Asset Management L P grew its holdings in CHIMERA INVT CO/SH NEW by 10.9% in the 1st quarter. Martingale Asset Management L P now owns 612,273 shares of the real estate investment trust’s stock valued at $11,476,000 after buying an additional 60,319 shares in the last quarter. Yorktown Management & Research Co Inc purchased a new stake in CHIMERA INVT CO/SH NEW in the 1st quarter valued at $590,000. SevenBridge Financial Group LLC grew its holdings in CHIMERA INVT CO/SH NEW by 267.6% in the 2nd quarter. SevenBridge Financial Group LLC now owns 7,425 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 5,405 shares in the last quarter. Finally, Pegasus Asset Management Inc. grew its holdings in CHIMERA INVT CO/SH NEW by 1.6% in the 1st quarter. Pegasus Asset Management Inc. now owns 47,705 shares of the real estate investment trust’s stock valued at $894,000 after buying an additional 770 shares in the last quarter. Institutional investors own 51.98% of the company’s stock.

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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