Barclays Downgrades Chimera Investment Corp (CIM) to Underweight; Risk/Reward Unfavorable as Dividend Concerns Remains

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Barclays downgraded Chimera Investment Corp (NYSE: CIM) from Equalweight to Underweight with a price target of $2.25 (from $2.50).

Analyst, Mark C. DeVries, said, "...we believe the stock could continue to underperform the group until it is able to provide updated disclosure (we still do not have financials for 4Q11 and 1Q12), and allay concerns about ongoing pressure on the dividend, which management recently lowered for the 5th time in the last 7 quarters, taking it down to half of the 3Q10 high."

For an analyst ratings summary and ratings history on Chimera Investment Corp click here. For more ratings news on Chimera Investment Corp click here.

Shares of Chimera Investment Corp closed at $2.62 yesterday, with a 52 week range of $2.38-$3.62.

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