Ellington Residential Mortgage REIT (EARN) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Ellington Residential Mortgage REIT (NYSE:EARN) from a sell rating to a hold rating in a research report released on Monday.

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. “

Other research analysts have also issued reports about the company. ValuEngine raised Ellington Residential Mortgage REIT from a strong sell rating to a sell rating in a research report on Wednesday, August 15th. TheStreet lowered Ellington Residential Mortgage REIT from a c rating to a d rating in a research report on Wednesday, November 28th.

NYSE:EARN opened at $11.33 on Monday. Ellington Residential Mortgage REIT has a 12 month low of $10.23 and a 12 month high of $13.07. The stock has a market capitalization 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 released its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate 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 company had revenue of $4.65 million during the quarter. As a group, equities research analysts anticipate that Ellington Residential Mortgage REIT will post 1.33 EPS for the current fiscal year.

In related news, major shareholder Holdings L.P. Blackstone III acquired 7,000 shares of the business’s stock in a transaction on Tuesday, November 13th. The shares were bought at an average cost of $10.79 per share, with a total value of $75,530.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 104,428 shares of company stock worth $1,136,957 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of Ellington Residential Mortgage REIT by 1,393.3% during the second quarter. Bank of America Corp DE now owns 10,035 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 9,363 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Ellington Residential Mortgage REIT during the second quarter worth about $121,000. Wedbush Securities Inc. purchased a new stake in shares of Ellington Residential Mortgage REIT during the third quarter worth about $134,000. Assetmark Inc. increased its position in shares of Ellington Residential Mortgage REIT by 58.2% during the second quarter. Assetmark Inc. now owns 14,274 shares of the real estate investment trust’s stock worth $156,000 after acquiring an additional 5,251 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Ellington Residential Mortgage REIT during the second quarter worth about $208,000. 61.33% of the stock is currently owned by institutional investors and hedge funds.

About Ellington Residential Mortgage REIT

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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