Ellington Credit (NYSE:EARN - Get Free Report) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 662,300 shares, a drop of 13.7% from the February 28th total of 767,300 shares. Based on an average trading volume of 668,900 shares, the short-interest ratio is currently 1.0 days. Currently, 2.3% of the shares of the stock are short sold.
Ellington Credit Stock Down 2.6 %
EARN stock traded down $0.13 during mid-day trading on Monday, hitting $4.62. The company had a trading volume of 1,541,772 shares, compared to its average volume of 494,763. The company has a 50-day moving average price of $6.21 and a 200 day moving average price of $6.53. Ellington Credit has a 12-month low of $4.37 and a 12-month high of $7.26. The company has a market capitalization of $173.33 million, a price-to-earnings ratio of 4.12 and a beta of 1.74.
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 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. The business had revenue of $6.14 million during the quarter, compared to analysts' expectations of $9.65 million. As a group, analysts expect that Ellington Credit will post 1.17 EPS for the current year.
Ellington Credit Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Tuesday, May 27th. Investors of record on Wednesday, April 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.96 annualized dividend and a yield of 20.80%. Ellington Credit's dividend payout ratio is currently 320.00%.
Institutional Investors Weigh In On Ellington Credit
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EARN. Quantbot Technologies LP bought a new stake in Ellington Credit in the fourth quarter worth $30,000. FMR LLC lifted its stake in Ellington Credit by 243.2% in the third quarter. FMR LLC now owns 4,839 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 3,429 shares during the last quarter. State of Wyoming bought a new position in shares of Ellington Credit during the fourth quarter valued at approximately $49,000. Naviter Wealth LLC purchased a new stake in shares of Ellington Credit in the fourth quarter worth approximately $72,000. Finally, McIlrath & Eck LLC bought a new stake in shares of Ellington Credit during the 4th quarter worth approximately $80,000. 20.40% of the stock is currently owned by hedge funds and other institutional investors.
About Ellington Credit
(
Get 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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