Chimera Investment (NYSE:CIM) Stock Rating Upgraded by UBS Group

Chimera Investment (NYSE:CIM) was upgraded by UBS Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a $15.00 price target on the real estate investment trust’s stock, up from their previous price target of $11.50. UBS Group’s price target points to a potential upside of 15.21% from the company’s previous close.

Several other analysts have also issued reports on CIM. JMP Securities reaffirmed a “market perform” rating on shares of Chimera Investment in a research note on Thursday, January 23rd. Royal Bank of Canada upgraded shares of Chimera Investment to a “moderate buy” rating in a research report on Friday, March 14th. Finally, StockNews.com lowered Chimera Investment from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.50.

Chimera Investment Price Performance

Chimera Investment stock opened at $13.02 on Wednesday. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 12.05 and a beta of 1.76. The company has a quick ratio of 3.03, a current ratio of 0.06 and a debt-to-equity ratio of 2.82. The business has a 50-day simple moving average of $12.36 and a 200 day simple moving average of $13.78. Chimera Investment has a 52 week low of $9.85 and a 52 week high of $16.89.

Chimera Investment (NYSE:CIM) last issued its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $0.41 EPS for the quarter, topping the consensus estimate of $0.38 by $0.03. The company had revenue of $69.22 million during the quarter, compared to analyst estimates of $72.07 million. Chimera Investment had a return on equity of 7.00% and a net margin of 20.28%. On average, research analysts forecast that Chimera Investment will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chimera Investment news, Director Gerard Creagh acquired 12,500 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $13.31 per share, for a total transaction of $166,375.00. Following the transaction, the director now owns 138,127 shares in the company, valued at $1,838,470.37. This represents a 9.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.91% of the stock is owned by insiders.

Hedge Funds Weigh In On Chimera Investment

A number of hedge funds and other institutional investors have recently made changes to their positions in CIM. Investment Partners Asset Management Inc. raised its holdings in Chimera Investment by 10.2% in the 1st quarter. Investment Partners Asset Management Inc. now owns 14,437 shares of the real estate investment trust’s stock worth $185,000 after purchasing an additional 1,338 shares in the last quarter. Sterling Capital Management LLC boosted its position in Chimera Investment by 4.9% during the 4th quarter. Sterling Capital Management LLC now owns 29,111 shares of the real estate investment trust’s stock valued at $408,000 after acquiring an additional 1,357 shares in the last quarter. AXS Investments LLC boosted its position in Chimera Investment by 1.8% during the 1st quarter. AXS Investments LLC now owns 109,345 shares of the real estate investment trust’s stock valued at $1,403,000 after acquiring an additional 1,911 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Chimera Investment by 11.4% during the 1st quarter. Cetera Investment Advisers now owns 18,783 shares of the real estate investment trust’s stock worth $241,000 after acquiring an additional 1,927 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Chimera Investment by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 49,231 shares of the real estate investment trust’s stock worth $689,000 after acquiring an additional 2,694 shares in the last quarter. Institutional investors own 48.44% of the company’s stock.

Chimera Investment Company Profile

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 residential mortgage-backed securities, non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, business purpose and investor loans, and other real estate related securities.