TheStreet Lowers Ellington Residential Mortgage REIT (EARN) to D

TheStreet cut shares of Ellington Residential Mortgage REIT (NYSE:EARN) from a c rating to a d rating in a report released on Wednesday.

A number of other brokerages have also weighed in on EARN. Zacks Investment Research upgraded Ellington Residential Mortgage REIT from a sell rating to a hold rating in a research note on Wednesday, September 26th. ValuEngine upgraded Ellington Residential Mortgage REIT from a strong sell rating to a sell rating in a research note on Wednesday, August 15th.

Shares of NYSE EARN opened at $11.34 on Wednesday. Ellington Residential Mortgage REIT has a fifty-two week low of $10.23 and a fifty-two week high of $13.08. The company has a market cap of $143.00 million, a price-to-earnings ratio of 7.99 and a beta of 0.55.

Ellington Residential Mortgage REIT (NYSE:EARN) last issued its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.05). Ellington Residential Mortgage REIT had a negative net margin of 1.77% and a positive return on equity of 10.35%. The business had revenue of $4.65 million for the quarter. Equities research analysts forecast that Ellington Residential Mortgage REIT will post 1.33 earnings per share for the current year.

In other Ellington Residential Mortgage REIT news, major shareholder Holdings L.P. Blackstone III acquired 7,000 shares of the stock in a transaction on Tuesday, November 13th. The stock was purchased at an average price of $10.79 per share, for a total transaction of $75,530.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In the last 90 days, insiders have acquired 104,428 shares of company stock valued at $1,136,957. 2.00% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of EARN. Bank of America Corp DE grew its stake in Ellington Residential Mortgage REIT by 1,393.3% during the 2nd quarter. Bank of America Corp DE now owns 10,035 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 9,363 shares in the last quarter. First Trust Advisors LP acquired a new stake in Ellington Residential Mortgage REIT during the 2nd quarter valued at approximately $121,000. Wedbush Securities Inc. bought a new position in Ellington Residential Mortgage REIT during the 3rd quarter worth approximately $134,000. Assetmark Inc. lifted its holdings in Ellington Residential Mortgage REIT by 58.2% during the 2nd quarter. Assetmark Inc. now owns 14,274 shares of the real estate investment trust’s stock worth $156,000 after buying an additional 5,251 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Ellington Residential Mortgage REIT during the 2nd quarter worth approximately $208,000. Hedge funds and other institutional investors own 63.87% of the company’s stock.

Ellington Residential Mortgage REIT Company Profile

Ellington Residential Mortgage REIT, a real estate investment trust, specializes in acquiring, investing in, and managing residential mortgage-and real estate-related assets. It acquires and manages residential mortgage-backed securities (RMBS), including agency pools and agency collateralized mortgage obligations (CMOs); and non-agency RMBS comprising non-agency CMOs, such as investment grade and non-investment grade.

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