Chimera Investment (NYSE:CIM) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of Chimera Investment Corporation (NYSE:CIM) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.18 and traded as high as $13.27. Chimera Investment shares last traded at $13.0350, with a volume of 481,600 shares trading hands.

Analysts Set New Price Targets

CIM has been the topic of a number of analyst reports. Weiss Ratings cut shares of Chimera Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded Chimera Investment from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $14.00 price target on shares of Chimera Investment in a report on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.83.

Chimera Investment Stock Up 0.9%

The firm has a market capitalization of $1.10 billion, a PE ratio of -16.38 and a beta of 1.67. The business’s 50 day simple moving average is $13.36 and its 200 day simple moving average is $13.18. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 2.31.

Chimera Investment (NYSE:CIM) last issued its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Chimera Investment had a return on equity of 9.36% and a net margin of 2.27%.The company had revenue of $32.37 million during the quarter, compared to the consensus estimate of $102.35 million.

Chimera Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Chimera Investment’s payout ratio is currently -225.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CIM. Empowered Funds LLC purchased a new stake in Chimera Investment in the 1st quarter valued at about $255,000. Segall Bryant & Hamill LLC bought a new position in Chimera Investment in the 1st quarter worth about $885,000. Bank of America Corp DE increased its position in shares of Chimera Investment by 72.2% during the first quarter. Bank of America Corp DE now owns 125,171 shares of the real estate investment trust’s stock worth $1,571,000 after acquiring an additional 52,495 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Chimera Investment during the first quarter worth approximately $545,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Chimera Investment during the first quarter valued at approximately $1,736,000. Hedge funds and other institutional investors own 48.44% of the company’s stock.

Chimera Investment Company Profile

Chimera Investment Corporation (NYSE: CIM) is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company’s portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.

The firm’s core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.