New York Life Investment Management LLC Raises Position in Chimera Investment Co. (NYSE:CIM)

Posted by on Jun 6th, 2023

New York Life Investment Management LLC lifted its stake in shares of Chimera Investment Co. (NYSE:CIM – Get Rating) by 12.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,112 shares of the real estate investment trust’s stock after buying an additional 5,309 shares during the period. New York Life Investment Management LLC’s holdings in Chimera Investment were worth $259,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CIM. Allianz Asset Management GmbH grew its stake in shares of Chimera Investment by 50.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,472,143 shares of the real estate investment trust’s stock worth $7,685,000 after acquiring an additional 493,047 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in Chimera Investment in the 3rd quarter valued at about $87,000. Yousif Capital Management LLC bought a new position in shares of Chimera Investment during the 4th quarter worth approximately $57,000. Hexagon Capital Partners LLC purchased a new position in shares of Chimera Investment in the 4th quarter worth approximately $36,000. Finally, Wolverine Asset Management LLC purchased a new position in shares of Chimera Investment in the 3rd quarter worth approximately $2,020,000. Institutional investors own 47.06% of the company’s stock.

Chimera Investment Stock Down 1.7 %

CIM stock opened at $5.07 on Tuesday. The stock has a fifty day moving average of $5.25 and a 200-day moving average of $6.01. Chimera Investment Co. has a fifty-two week low of $4.48 and a fifty-two week high of $10.66. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -4.49 and a beta of 1.52. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.09 and a current ratio of 0.09.

Chimera Investment (NYSE:CIM – Get Rating) last issued its earnings results on Thursday, May 4th. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Chimera Investment had a positive return on equity of 9.79% and a negative net margin of 25.38%. The business had revenue of $189.25 million for the quarter, compared to the consensus estimate of $86.60 million. During the same quarter in the prior year, the business earned $0.39 EPS. As a group, equities research analysts predict that Chimera Investment Co. will post 0.78 earnings per share for the current year.

Analysts Set New Price Targets

CIM has been the topic of a number of recent analyst reports. Credit Suisse Group dropped their price target on Chimera Investment from $6.50 to $5.50 in a report on Friday, May 19th. StockNews.com assumed coverage on shares of Chimera Investment in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $7.00 price objective on shares of Chimera Investment in a report on Tuesday, March 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Chimera Investment has a consensus rating of “Hold” and a consensus price target of $7.17.

Chimera Investment Profile

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Chimera Investment Corp. is a real estate investment trust, which engages in the business of investing in a portfolio of mortgage assets, including residential mortgage loans, Agency RMBS, Non-Agency RMBS, Agency CMBS, and other real estate-related assets. The company was founded on June 1, 2007 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Chimera Investment (NYSE:CIM)

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