Advisory Services Network LLC Makes New Investment in Ellington Residential Mortgage REIT (NYSE:EARN)

Advisory Services Network LLC bought a new position in Ellington Residential Mortgage REIT (NYSE:EARN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,319 shares of the real estate investment trust’s stock, valued at approximately $160,000. Advisory Services Network LLC owned about 0.11% of Ellington Residential Mortgage REIT at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EARN. Marshall Wace LLP bought a new position in Ellington Residential Mortgage REIT in the 1st quarter worth about $40,000. Advisor Group Holdings Inc. boosted its holdings in shares of Ellington Residential Mortgage REIT by 44.3% in the second quarter. Advisor Group Holdings Inc. now owns 16,679 shares of the real estate investment trust’s stock valued at $197,000 after acquiring an additional 5,123 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Ellington Residential Mortgage REIT by 36.7% in the second quarter. Envestnet Asset Management Inc. now owns 14,528 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 3,903 shares in the last quarter. WINTON GROUP Ltd boosted its holdings in shares of Ellington Residential Mortgage REIT by 14.7% in the second quarter. WINTON GROUP Ltd now owns 71,659 shares of the real estate investment trust’s stock valued at $843,000 after acquiring an additional 9,163 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Ellington Residential Mortgage REIT by 1,137.0% in the second quarter. Citigroup Inc. now owns 11,294 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 10,381 shares in the last quarter. Hedge funds and other institutional investors own 36.19% of the company’s stock.

Shares of NYSE:EARN opened at $10.83 on Friday. The stock has a market capitalization of $140.09 million, a price-to-earnings ratio of 33.84 and a beta of 1.84. Ellington Residential Mortgage REIT has a 1-year low of $9.81 and a 1-year high of $13.92. The company has a 50 day moving average price of $11.02 and a 200 day moving average price of $11.33.

Ellington Residential Mortgage REIT (NYSE:EARN) last issued its earnings results on Tuesday, November 2nd. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.03). Ellington Residential Mortgage REIT had a return on equity of 10.23% and a net margin of 15.17%. During the same quarter in the prior year, the firm earned $0.39 EPS. As a group, research analysts predict that Ellington Residential Mortgage REIT will post 1.31 earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Friday, February 25th. Investors of record on Monday, January 31st will be given a $0.10 dividend. The ex-dividend date is Friday, January 28th. This represents a $1.20 annualized dividend and a dividend yield of 11.08%. Ellington Residential Mortgage REIT’s dividend payout ratio (DPR) is presently 375.01%.

Several research firms have recently issued reports on EARN. BTIG Research cut shares of Ellington Residential Mortgage REIT from a “buy” rating to a “neutral” rating in a report on Monday, November 8th. Piper Sandler began coverage on shares of Ellington Residential Mortgage REIT in a report on Tuesday, October 12th. They issued an “overweight” rating and a $12.50 price objective for the company. Finally, Zacks Investment Research upgraded shares of Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a report on Wednesday, January 5th.

Ellington Residential Mortgage REIT Company Profile

Ellington Residential Mortgage REIT operates as a real estate investment trust, which engages in the acquisition, investment, and management of residential mortgage and real estate-related assets. It manages a portfolio, which consists of non-agency and agency residential mortgage-backed securities and acquires other target assets, such as residential whole mortgage loans, commercial mortgage-backed securities, mortgage-related derivatives, and other asset-backed securities.

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Institutional Ownership by Quarter for Ellington Residential Mortgage REIT (NYSE:EARN)

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