Bank of New York Mellon Corp Purchases Shares of 144,217 Ellington Credit (NYSE:EARN)

Bank of New York Mellon Corp acquired a new stake in Ellington Credit (NYSE:EARN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 reporting period.

Other large investors have also made changes to their positions in the company. FMR LLC lifted its stake in Ellington Credit by 243.2% in the 3rd quarter. FMR LLC now owns 4,839 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 3,429 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Ellington Credit during the fourth quarter valued at approximately $114,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Ellington Credit in the fourth quarter valued at approximately $152,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Ellington Credit in the third quarter worth approximately $170,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Ellington Credit in the third quarter worth approximately $220,000. 20.40% of the stock is owned by institutional investors and hedge funds.

Ellington Credit Price Performance

NYSE EARN traded down $0.15 during mid-day trading on Friday, hitting $5.83. The stock had a trading volume of 728,607 shares, compared to its average volume of 447,093. The firm's 50 day moving average is $6.35 and its 200 day moving average is $6.59. The stock has a market capitalization of $169.96 million, a price-to-earnings ratio of 5.20 and a beta of 1.96. Ellington Credit has a twelve month low of $5.68 and a twelve month high of $7.26.

Ellington Credit (NYSE:EARN - Get Free Report) last released its earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.01. The business had revenue of $6.14 million during 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%. As a group, equities research analysts expect that Ellington Credit will post 1.17 earnings per share for the current year.

Ellington Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 16.48%. The ex-dividend date is Monday, March 31st. Ellington Credit's dividend payout ratio (DPR) is 320.00%.

Ellington Credit Company Profile

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.