Chimera Investment (NYSE:CIM) Hits New 52-Week Low – Here’s What Happened

Chimera Investment Corporation (NYSE:CIM)’s stock price hit a new 52-week low on Monday. The stock traded as low as $8.26 and last traded at $8.2480, with a volume of 114,315 shares changing hands. The stock had previously closed at $8.40.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CIM shares. Weiss Ratings lowered shares of Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 18th. Keefe, Bruyette & Woods dropped their target price on shares of Chimera Investment from $15.00 to $14.00 and set a “market perform” rating for the company in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded Chimera Investment from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.50.

Chimera Investment Price Performance

The firm has a 50-day moving average of $10.56 and a 200-day moving average of $12.24. The stock has a market cap of $700.90 million, a PE ratio of -8.21 and a beta of 1.72. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.07 and a quick ratio of 0.07.

Chimera Investment (NYSE:CIM) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). Chimera Investment had a return on equity of 9.82% and a net margin of 0.14%. The business had revenue of $94.77 million during the quarter, compared to analysts’ expectations of $95.30 million.

Chimera Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 21.5%. Chimera Investment’s dividend payout ratio is currently -176.47%.

Institutional Trading of Chimera Investment

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allianz Asset Management GmbH lifted its stake in Chimera Investment by 6.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,274,507 shares of the real estate investment trust’s stock worth $30,342,000 after purchasing an additional 147,119 shares in the last quarter. State Street Corp increased its holdings in shares of Chimera Investment by 7.8% in the second quarter. State Street Corp now owns 2,029,275 shares of the real estate investment trust’s stock worth $27,957,000 after purchasing an additional 147,629 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Chimera Investment by 9.5% in the second quarter. BlackRock Inc. now owns 7,855,125 shares of the real estate investment trust’s stock worth $104,787,000 after purchasing an additional 681,996 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Chimera Investment by 20,243.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 145,661 shares of the real estate investment trust’s stock worth $1,943,000 after buying an additional 144,945 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Chimera Investment in the first quarter worth about $1,736,000. 48.44% of the stock is currently owned by institutional investors.

Chimera Investment Company Profile

Chimera Investment Corporation is a real estate investment trust (REIT) focused on investing in residential mortgage assets. The company seeks to generate income primarily through a portfolio of mortgage loans and mortgage-backed securities, including agency and non-agency residential mortgage-backed securities.

Its investments may include performing and non-performing residential mortgage loans, residential mortgage-backed securities and other mortgage-related assets. Agency securities are generally backed by government-sponsored enterprises or U.S.