Ellington Residential Mortgage REIT (NYSE:EARN) Raised to Hold at Zacks Investment Research

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

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, TheStreet downgraded shares of Viewray from a c- rating to a d rating in a research report on Friday, May 3rd.

Shares of EARN stock traded up $0.10 on Monday, reaching $10.98. 2,728 shares of the company were exchanged, compared to its average volume of 59,982. The company has a market cap of $137.20 million, a P/E ratio of 8.19 and a beta of 0.76. The firm has a 50-day moving average of $10.84. Ellington Residential Mortgage REIT has a 1 year low of $10.14 and a 1 year high of $12.14.

Ellington Residential Mortgage REIT (NYSE:EARN) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.04). The firm had revenue of $3.06 million during the quarter. Ellington Residential Mortgage REIT had a net margin of 8.39% and a return on equity of 9.78%. On average, equities research analysts anticipate that Ellington Residential Mortgage REIT will post 1.03 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Friday, June 28th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 10.20%. The ex-dividend date of this dividend is Thursday, June 27th. Ellington Residential Mortgage REIT’s dividend payout ratio (DPR) is 83.58%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. WINTON GROUP Ltd lifted its stake in shares of Ellington Residential Mortgage REIT by 70.2% in the second quarter. WINTON GROUP Ltd now owns 21,806 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 8,994 shares during the period. Marshall Wace LLP acquired a new stake in shares of Ellington Residential Mortgage REIT in the first quarter valued at about $40,000. SG Americas Securities LLC lifted its stake in shares of Ellington Residential Mortgage REIT by 11.6% in the first quarter. SG Americas Securities LLC now owns 16,791 shares of the real estate investment trust’s stock valued at $200,000 after purchasing an additional 1,740 shares during the period. Wedbush Securities Inc. lifted its stake in shares of Ellington Residential Mortgage REIT by 26.9% in the first quarter. Wedbush Securities Inc. now owns 16,520 shares of the real estate investment trust’s stock valued at $197,000 after purchasing an additional 3,500 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Ellington Residential Mortgage REIT by 12.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 81,115 shares of the real estate investment trust’s stock valued at $830,000 after purchasing an additional 9,158 shares during the period. Hedge funds and other institutional investors own 61.90% 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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