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

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

Chimera Investment Stock Performance

NYSE:CIM traded up $0.04 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. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -14.31 and a beta of 1.05. Chimera Investment has a 52 week low of $7.72 and a 52 week high of $16.85. The stock has a fifty day simple moving average of $9.30 and a 200-day simple moving average of $10.92.

Hedge Funds Weigh In On Chimera Investment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CIM. Goldman Sachs Group Inc. boosted its position in Chimera Investment by 113.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,668,559 shares of the real estate investment trust’s stock worth $20,090,000 after purchasing an additional 885,442 shares during the period. Renaissance Technologies LLC boosted its position in Chimera Investment by 134.8% during the first quarter. Renaissance Technologies LLC now owns 810,322 shares of the real estate investment trust’s stock worth $9,756,000 after purchasing an additional 465,162 shares during the period. Allianz Asset Management GmbH boosted its position in Chimera Investment by 102.0% during the first quarter. Allianz Asset Management GmbH now owns 870,261 shares of the real estate investment trust’s stock worth $10,478,000 after purchasing an additional 439,340 shares during the period. State Street Corp boosted its position in Chimera Investment by 8.0% during the first quarter. State Street Corp now owns 5,454,412 shares of the real estate investment trust’s stock worth $67,373,000 after purchasing an additional 405,765 shares during the period. Finally, Federated Hermes Inc. boosted its position in Chimera Investment by 60.6% during the first quarter. Federated Hermes Inc. now owns 909,941 shares of the real estate investment trust’s stock worth $10,956,000 after purchasing an additional 343,496 shares during the period. Institutional investors own 53.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CIM shares. Credit Suisse Group reduced their price target on shares of Chimera Investment to $9.50 in a research report on Friday, July 22nd. Barclays reduced their price target on shares of Chimera Investment from $11.00 to $9.00 and set an “underweight” rating for the company in a research report on Monday, July 18th.

Chimera Investment Company Profile

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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.

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Earnings History for Chimera Investment (NYSE:CIM)

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