Chimera Investment Corporation (NYSE:CIM) traded today at a new 52-week high of $13.30. This new high was reached on below average trading volume as 560,000 shares traded hands, while the average 30-day volume is approximately 1.9 million shares.
Chimera Investment Corporation is a real estate investment trust primarily engaged in investing in a portfolio of mortgage assets on a leveraged basis. These investments include a variety of government-sponsored agency residential mortgage-backed securities, or RMBS, non-agency RMBS, agency commercial mortgage-backed securities, residential mortgage loans, and other real estate-related securities. Agency mortgage-backed securities represent the largest share of this portfolio, while subprime residential mortgage loans and non-agency RMBS also make up substantial shares. A significant percentage of these securities are backed by properties in California. Chimera generates nearly all of its income from interest payments derived from its investments.
Based on a current price of $13.27, Chimera Investment Corporation is currently 3.5% above its average consensus analyst price target of $12.80.
In the past 52 weeks, shares of Chimera Investment Corporation have traded between a low of $7.04 and a high of $13.30 and is now at $13.27, which is 89% above that low price.
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