Zacks Investment Research Downgrades CHIMERA INVT CO/SH NEW (NYSE:CIM) to Sell

Zacks Investment Research lowered shares of CHIMERA INVT CO/SH NEW (NYSE:CIM) from a hold rating to a sell rating in a research note published on Monday morning, 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. “

NYSE:CIM opened at $19.33 on Monday. CHIMERA INVT CO/SH NEW has a 12 month low of $16.88 and a 12 month high of $19.97. The firm has a fifty day simple moving average of $19.35 and a 200-day simple moving average of $18.99. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $3.69 billion, a P/E ratio of 8.67 and a beta of 0.59.

CHIMERA INVT CO/SH NEW (NYSE:CIM) last posted its quarterly earnings data 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 company had revenue of $141.80 million for the quarter, compared to analyst estimates of $157.07 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. Equities analysts forecast that CHIMERA INVT CO/SH NEW will post 2.13 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, September 26th. This represents a $2.00 annualized dividend and a dividend yield of 10.35%. CHIMERA INVT CO/SH NEW’s payout ratio is currently 85.47%.

Large investors have recently bought and sold shares of the company. Advisory Services Network LLC lifted its stake in shares of CHIMERA INVT CO/SH NEW by 4.2% during the first quarter. Advisory Services Network LLC now owns 90,099 shares of the real estate investment trust’s stock worth $1,688,000 after buying an additional 3,591 shares during the period. Martingale Asset Management L P lifted its stake in shares of CHIMERA INVT CO/SH NEW by 10.9% during the first quarter. Martingale Asset Management L P now owns 612,273 shares of the real estate investment trust’s stock worth $11,476,000 after buying an additional 60,319 shares during the period. Yorktown Management & Research Co Inc acquired a new stake in shares of CHIMERA INVT CO/SH NEW during the first quarter worth $590,000. SevenBridge Financial Group LLC lifted its stake in shares of CHIMERA INVT CO/SH NEW by 267.6% during the second quarter. SevenBridge Financial Group LLC now owns 7,425 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 5,405 shares during the period. Finally, Pegasus Asset Management Inc. lifted its stake in shares of CHIMERA INVT CO/SH NEW by 1.6% during the first quarter. Pegasus Asset Management Inc. now owns 47,705 shares of the real estate investment trust’s stock worth $894,000 after buying an additional 770 shares during the period. Institutional investors and hedge funds 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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