In yesterday’s Wall Street session, Chimera Investment Corporation (NYSE:CIM) shares traded at $5.68, down -3.40% from the previous session.
As of this writing, 6 analysts cover Chimera Investment Corporation (NYSE:CIM). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $6.00 and a low of $5.50, we find $5.50. Given the previous closing price of $5.88, this indicates a potential downside of -6.46 percent. CIM stock price is now 8.29% away from the 50-day moving average and -5.98% away from the 200-day moving average. The market capitalization of the company currently stands at $1.33B.
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There are 5 analysts who have given it a hold rating, whereas 1 have given it a buy rating. Brokers who have rated the stock have averaged $5.67 as their price target over the next twelve months.
With the price target enhanced from $9 to $10, Barclays Downgraded its rating from Equal Weight to Underweight for Chimera Investment Corporation (NYSE: CIM).
Insiders disposed of 28,209 shares of company stock worth roughly $0.16 million over the past 1 year. A total of 1.56% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CIM stock. A new stake in Chimera Investment Corporation shares was purchased by RENAISSANCE TECHNOLOGIES LLC during the first quarter worth $2,111,000. TEGEAN CAPITAL MANAGEMENT, LLC invested $1,420,000 in shares of CIM during the first quarter. In the first quarter, GALLAGHER BENEFIT SERVICES, INC. acquired a new stake in Chimera Investment Corporation valued at approximately $992,000. GALLAGHER FIDUCIARY ADVISORS, LLC acquired a new stake in CIM for approximately $834,000. SQUAREPOINT OPS LLC purchased a new stake in CIM valued at around $719,000 in the second quarter. In total, there are 317 active investors with 51.60% ownership of the company’s stock.
Thursday morning saw Chimera Investment Corporation (NYSE: CIM) opened at $5.68. During the past 12 months, Chimera Investment Corporation has had a low of $4.48 and a high of $10.50. The fifty day moving average price for CIM is $5.24 and a two-hundred day moving average price translates $6.05 for the stock.
The latest earnings results from Chimera Investment Corporation (NYSE: CIM) was released for Mar, 2023. According to the REIT – Mortgage Company, earnings per share came in at $0.13, missing analysts’ expectations of $0.16 by -0.03. This compares to -$1.19 EPS in the same period last year. The net profit margin was -39.30% and return on equity was -9.80% for CIM. The company reported revenue of $189.25 million for the quarter, compared to $202.18 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -6.39 percent. For the current quarter, analysts expect CIM to generate $80.65M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/31/2023. Investors who held shares on 06/30/2023 were paid a $0.18 dividend. On an annualized basis, this represents a $0.72 dividend and a 12.68% percent yield. There was an ex-dividend date of 06/29/2023 for this dividend.
Chimera Investment Corporation(CIM) 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, non-agency residential mortgage-backed securities, agency mortgage-backed securities secured, agency mortgage-backed securities secured by pools of commercial mortgage loans, business purpose and investor loans, and other real estate related securities. It has elected to be taxed as a REIT. In addition, the company invests in investment grade, non-investment grade, and non-rated classes. The company was incorporated in 2007 and is headquartered in New York, New York.
