Chimera Investment (NYSE:CIM) Stock Price Target Cut by Keefe, Bruyette & Woods

Chimera Investment (NYSE:CIM) had its price objective lowered by equities researchers at Keefe, Bruyette & Woods from $13.00 to $11.50 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods‘s target price suggests a potential upside of 57.64% from the stock’s current price.

Separately, Weiss Ratings cut shares of Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 18th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.67.

Chimera Investment Price Performance

Shares of NYSE CIM traded down $0.01 during midday trading on Monday, hitting $7.29. The company had a trading volume of 1,158,172 shares, compared to its average volume of 945,955. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 2.34. Chimera Investment has a twelve month low of $7.18 and a twelve month high of $14.18. The business has a 50-day simple moving average of $9.68 and a two-hundred day simple moving average of $12.17. The firm has a market capitalization of $610.68 million, a price-to-earnings ratio of -2.38 and a beta of 1.75.

Chimera Investment (NYSE:CIM) last released its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). Chimera Investment had a positive return on equity of 9.99% and a negative net margin of 19.11%. The company had revenue of ($118.00) million for the quarter, compared to analysts’ expectations of $103.10 million.

Institutional Trading of Chimera Investment

Large investors have recently bought and sold shares of the company. Nykredit A S purchased a new position in shares of Chimera Investment in the second quarter valued at $29,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Chimera Investment in the 2nd quarter worth about $46,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Chimera Investment in the 2nd quarter worth about $60,000. Global Retirement Partners LLC purchased a new stake in shares of Chimera Investment in the 2nd quarter worth about $79,000. Finally, IFP Advisors Inc boosted its position in shares of Chimera Investment by 52.5% in the 2nd quarter. IFP Advisors Inc now owns 10,412 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 3,586 shares in 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 real estate investment trust that invests primarily in residential mortgage assets and other real estate-related investments. The company seeks to generate income from a portfolio that may include residential mortgage loans, agency and non-agency residential mortgage-backed securities, and other mortgage-related assets.

Chimera’s investments can include whole residential mortgage loans and securitized interests backed by mortgages. Its portfolio has historically included both agency assets, which carry guarantees from government-sponsored entities or government agencies, and non-agency assets, which generally involve greater credit exposure.