Ellington Residential Mortgage REIT (EARN) Rating Increased to C at TheStreet

TheStreet upgraded shares of Ellington Residential Mortgage REIT (NYSE:EARN) from a d rating to a c rating in a report issued on Friday, TheStreetRatingsTable reports.

Separately, Zacks Investment Research cut shares of Ellington Residential Mortgage REIT from a strong-buy rating to a hold rating in a research report on Tuesday, April 16th.

Ellington Residential Mortgage REIT stock opened at $11.75 on Friday. The company has a market capitalization of $147.66 million, a price-to-earnings ratio of 8.77 and a beta of 0.72. 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.04). Ellington Residential Mortgage REIT had a return on equity of 9.66% and a net margin of 8.39%. The business had revenue of $3.06 million during the quarter. Equities analysts forecast that Ellington Residential Mortgage REIT will post 1.36 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Friday, March 29th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 11.57%. The ex-dividend date was Thursday, March 28th. Ellington Residential Mortgage REIT’s payout ratio is 101.49%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of Ellington Residential Mortgage REIT by 16.2% during the 3rd quarter. BlackRock Inc. now owns 317,919 shares of the real estate investment trust’s stock valued at $3,589,000 after buying an additional 44,303 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Ellington Residential Mortgage REIT by 12.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 81,115 shares of the real estate investment trust’s stock valued at $830,000 after buying an additional 9,158 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Ellington Residential Mortgage REIT during the 4th quarter valued at $635,000. California Public Employees Retirement System boosted its stake in shares of Ellington Residential Mortgage REIT by 3.2% during the 4th quarter. California Public Employees Retirement System now owns 29,284 shares of the real estate investment trust’s stock valued at $300,000 after buying an additional 916 shares during the period. Finally, Barclays PLC boosted its stake in shares of Ellington Residential Mortgage REIT by 5,168.2% during the 4th quarter. Barclays PLC now owns 27,500 shares of the real estate investment trust’s stock valued at $281,000 after buying an additional 26,978 shares during the period. Hedge funds and other institutional investors own 63.65% 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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