Ellington Residential Mortgage REIT (EARN) Expected to Post Earnings of $0.43 Per Share

Brokerages expect Ellington Residential Mortgage REIT (NYSE:EARN) to announce earnings per share (EPS) of $0.43 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Ellington Residential Mortgage REIT’s earnings. Ellington Residential Mortgage REIT posted earnings per share of $0.47 in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.5%. The company is scheduled to announce its next quarterly earnings report on Thursday, February 8th.

According to Zacks, analysts expect that Ellington Residential Mortgage REIT will report full-year earnings of $1.86 per share for the current financial year. For the next year, analysts forecast that the firm will post earnings of $1.51 per share. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Ellington Residential Mortgage REIT.

Ellington Residential Mortgage REIT (NYSE:EARN) last released its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.02). The firm had revenue of $7.15 million for the quarter. Ellington Residential Mortgage REIT had a return on equity of 12.02% and a net margin of 40.44%.

A number of research analysts recently issued reports on EARN shares. Zacks Investment Research downgraded Ellington Residential Mortgage REIT from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. BidaskClub downgraded Ellington Residential Mortgage REIT from a “sell” rating to a “strong sell” rating in a research note on Friday, November 3rd.

Several hedge funds have recently made changes to their positions in EARN. SG Americas Securities LLC purchased a new position in shares of Ellington Residential Mortgage REIT in the 3rd quarter valued at approximately $109,000. Bessemer Group Inc. purchased a new position in shares of Ellington Residential Mortgage REIT in the 2nd quarter valued at approximately $119,000. New York State Common Retirement Fund purchased a new position in shares of Ellington Residential Mortgage REIT in the 2nd quarter valued at approximately $130,000. Cubist Systematic Strategies LLC purchased a new position in shares of Ellington Residential Mortgage REIT in the 2nd quarter valued at approximately $155,000. Finally, Menta Capital LLC purchased a new position in shares of Ellington Residential Mortgage REIT in the 2nd quarter valued at approximately $170,000. Institutional investors own 66.67% of the company’s stock.

Ellington Residential Mortgage REIT (NYSE EARN) traded up $0.11 during trading hours on Friday, reaching $12.92. The company had a trading volume of 165,729 shares, compared to its average volume of 80,136. The stock has a market cap of $170.83, a P/E ratio of 6.74 and a beta of 0.59. Ellington Residential Mortgage REIT has a 12-month low of $12.50 and a 12-month high of $15.74.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Friday, December 29th will be paid a dividend of $0.37 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.48 dividend on an annualized basis and a yield of 11.46%. Ellington Residential Mortgage REIT’s dividend payout ratio is presently 149.53%.

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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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