Zacks Investment Research Upgrades Ellington Residential Mortgage REIT (EARN) to “Hold”

Ellington Residential Mortgage REIT (NYSE:EARN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “Ellington Residential Mortgage REIT is a real estate investment trust that specializes in acquiring, investing in and managing residential mortgage and real estate-related assets. Ellington Residential Mortgage REIT is based in United States. “

Separately, BidaskClub cut Ellington Residential Mortgage REIT from a “sell” rating to a “strong sell” rating in a research report on Friday, November 3rd.

Shares of Ellington Residential Mortgage REIT (EARN) traded down $0.15 during mid-day trading on Friday, hitting $12.71. The stock had a trading volume of 115,343 shares, compared to its average volume of 93,691. Ellington Residential Mortgage REIT has a one year low of $12.50 and a one year high of $15.74. The firm has a market cap of $169.50, a PE ratio of 6.69 and a beta of 0.59.

Ellington Residential Mortgage REIT (NYSE:EARN) last issued its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the 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 12.02%. The firm had revenue of $7.15 million for the quarter. equities research analysts predict that Ellington Residential Mortgage REIT will post 1.86 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp grew its holdings in shares of Ellington Residential Mortgage REIT by 16.8% in the 3rd quarter. Mackenzie Financial Corp now owns 46,033 shares of the real estate investment trust’s stock worth $668,000 after acquiring an additional 6,615 shares during the last quarter. BB&T Securities LLC grew its holdings in shares of Ellington Residential Mortgage REIT by 16.3% in the 3rd quarter. BB&T Securities LLC now owns 29,925 shares of the real estate investment trust’s stock worth $434,000 after acquiring an additional 4,200 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Ellington Residential Mortgage REIT by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 342,740 shares of the real estate investment trust’s stock worth $4,953,000 after acquiring an additional 22,782 shares during the last quarter. ClariVest Asset Management LLC grew its holdings in shares of Ellington Residential Mortgage REIT by 8.6% in the 3rd quarter. ClariVest Asset Management LLC now owns 295,251 shares of the real estate investment trust’s stock worth $4,287,000 after acquiring an additional 23,422 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Ellington Residential Mortgage REIT in the 3rd quarter worth $109,000. Institutional investors and hedge funds own 67.12% of the company’s stock.

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About Ellington Residential Mortgage REIT

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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