Ellington Residential Mortgage REIT (EARN) Lowered to Strong Sell at BidaskClub

BidaskClub lowered shares of Ellington Residential Mortgage REIT (NYSE:EARN) from a sell rating to a strong sell rating in a research report report published on Friday.

EARN has been the topic of several other research reports. Zacks Investment Research cut shares of Ellington Residential Mortgage REIT from a buy rating to a hold rating in a research report on Thursday, September 7th. Deutsche Bank AG dropped their price target on shares of Ellington Residential Mortgage REIT from $14.50 to $14.00 and set a hold rating on the stock in a research report on Wednesday, August 2nd.

Shares of Ellington Residential Mortgage REIT (NYSE:EARN) traded down $0.25 on Friday, hitting $13.03. The stock had a trading volume of 257,484 shares, compared to its average volume of 73,746. The firm has a market cap of $173.77, a P/E ratio of 6.86 and a beta of 0.61. Ellington Residential Mortgage REIT has a 12 month low of $12.29 and a 12 month high of $15.74.

Ellington Residential Mortgage REIT (NYSE:EARN) last announced its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.02). Ellington Residential Mortgage REIT had a net margin of 40.44% and a return on equity of 12.84%. The business had revenue of $7.15 million during the quarter. research analysts forecast that Ellington Residential Mortgage REIT will post 1.87 EPS for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Friday, September 29th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.60 annualized dividend and a yield of 12.28%. Ellington Residential Mortgage REIT’s payout ratio is 149.53%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in Ellington Residential Mortgage REIT by 639.1% in the 1st quarter. JPMorgan Chase & Co. now owns 7,539 shares of the real estate investment trust’s stock valued at $111,000 after acquiring an additional 6,519 shares in the last quarter. Bessemer Group Inc. bought a new position in Ellington Residential Mortgage REIT in the 2nd quarter valued at about $119,000. New York State Common Retirement Fund bought a new position in Ellington Residential Mortgage REIT in the 2nd quarter valued at about $130,000. Cubist Systematic Strategies LLC bought a new position in shares of Ellington Residential Mortgage REIT during the 2nd quarter worth approximately $155,000. Finally, Menta Capital LLC bought a new position in shares of Ellington Residential Mortgage REIT during the 2nd quarter worth approximately $170,000. 66.32% of the stock is currently owned by institutional investors and hedge funds.

Ellington Residential Mortgage REIT Company Profile

Ellington Residential Mortgage REIT is a real estate investment trust. The Company conducts its business through its subsidiaries, EARN OP GP LLC and Ellington Residential Mortgage LP (the Operating Partnership). It specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets.

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