Bank of New York Mellon Corp acquired a new position in shares of Ellington Credit (NYSE:EARN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 144,217 shares of the real estate investment trust's stock, valued at approximately $955,000. Bank of New York Mellon Corp owned approximately 0.49% of Ellington Credit at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC boosted its holdings in Ellington Credit by 243.2% during the third quarter. FMR LLC now owns 4,839 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 3,429 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Ellington Credit during the 4th quarter worth approximately $114,000. Mount Yale Investment Advisors LLC acquired a new stake in Ellington Credit in the 4th quarter valued at $152,000. Charles Schwab Investment Management Inc. bought a new stake in Ellington Credit in the third quarter valued at $170,000. Finally, Quadrature Capital Ltd bought a new stake in Ellington Credit in the third quarter valued at $220,000. 20.40% of the stock is currently owned by institutional investors.
Ellington Credit Stock Performance
Shares of NYSE EARN traded down $0.15 during midday trading on Friday, reaching $5.83. 728,607 shares of the company traded hands, compared to its average volume of 447,093. Ellington Credit has a 12 month low of $5.68 and a 12 month high of $7.26. The stock's 50-day simple moving average is $6.35 and its 200-day simple moving average is $6.59. The firm has a market cap of $169.96 million, a PE ratio of 5.20 and a beta of 1.96.
Ellington Credit (NYSE:EARN - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. The firm had revenue of $6.14 million for the quarter, compared to analyst estimates of $9.65 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. On average, equities research analysts expect that Ellington Credit will post 1.17 EPS for the current year.
Ellington Credit Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 16.48%. Ellington Credit's dividend payout ratio is 320.00%.
Ellington Credit Company Profile
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Free Report)
Ellington Credit Company, a real estate investment trust, acquires, invests in, and manages 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, such as non-agency CMOs, such as investment grade and non-investment grade.
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