Chimera Investment (NYSE:CIM) Posts Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Chimera Investment (NYSE:CIM – Get Rating) released its earnings results on Thursday. The real estate investment trust reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.06), Briefing.com reports. Chimera Investment had a positive return on equity of 12.47% and a negative net margin of 8.93%. The firm had revenue of $116.89 million for the quarter, compared to analysts’ expectations of $131.19 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was down 32.1% on a year-over-year basis.

Chimera Investment Price Performance

CIM traded up $0.04 during midday trading on Friday, reaching $9.30. 1,687,774 shares of the company’s stock were exchanged, compared to its average volume of 1,979,739. The company has a debt-to-equity ratio of 3.45, a current ratio of 6.05 and a quick ratio of 6.05. Chimera Investment has a 1-year low of $7.72 and a 1-year high of $16.85. The stock has a market capitalization of $2.20 billion, a PE ratio of -14.31 and a beta of 1.05. The business’s 50-day moving average price is $9.30 and its 200 day moving average price is $10.92.

Wall Street Analyst Weigh In

CIM has been the subject of a number of analyst reports. Barclays lowered their target price on shares of Chimera Investment from $11.00 to $9.00 and set an “underweight” rating for the company in a research note on Monday, July 18th. Credit Suisse Group cut their price objective on shares of Chimera Investment to $9.50 in a report on Friday, July 22nd.

Institutional Trading of Chimera Investment

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Worth Asset Management LLC purchased a new position in shares of Chimera Investment during the first quarter valued at approximately $30,000. American Century Companies Inc. purchased a new stake in Chimera Investment in the 1st quarter valued at about $132,000. Prelude Capital Management LLC acquired a new position in shares of Chimera Investment during the 1st quarter valued at about $135,000. IHT Wealth Management LLC acquired a new position in shares of Chimera Investment during the 1st quarter valued at about $156,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Chimera Investment by 31.2% in the first quarter. PNC Financial Services Group Inc. now owns 13,203 shares of the real estate investment trust’s stock worth $159,000 after acquiring an additional 3,139 shares during the last quarter. 53.05% of the stock is currently owned by hedge funds and other institutional investors.

About Chimera Investment

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Chimera Investment Corporation operates as a real estate investment trust (REIT) 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 residential, commercial mortgage loans, and other real estate related securities.