Ellington Credit (NYSE:EARN - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.78 and traded as low as $6.61. Ellington Credit shares last traded at $6.65, with a volume of 473,406 shares trading hands.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised shares of Ellington Credit from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th.
Get Our Latest Stock Analysis on Ellington Credit
Ellington Credit Stock Performance
The company has a market cap of $191.26 million, a P/E ratio of 5.85 and a beta of 1.86. The firm's fifty day moving average is $6.65 and its two-hundred day moving average is $6.77.
Ellington Credit (NYSE:EARN - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The firm had revenue of $4.75 million during the quarter, compared to analyst estimates of $7.55 million. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. During the same quarter in the prior year, the company posted $0.21 earnings per share. On average, equities research analysts expect that Ellington Credit will post 1.17 EPS for the current year.
Ellington Credit Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, January 31st will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 14.65%. The ex-dividend date is Friday, January 31st. Ellington Credit's payout ratio is currently 85.71%.
Hedge Funds Weigh In On Ellington Credit
A number of hedge funds and other institutional investors have recently modified their holdings of EARN. Clear Harbor Asset Management LLC bought a new position in shares of Ellington Credit during the 3rd quarter valued at about $1,412,000. Charles Schwab Investment Management Inc. bought a new position in Ellington Credit during the third quarter valued at approximately $170,000. Geode Capital Management LLC grew its holdings in Ellington Credit by 21.6% during the 3rd quarter. Geode Capital Management LLC now owns 269,850 shares of the real estate investment trust's stock valued at $1,885,000 after buying an additional 47,998 shares in the last quarter. Barclays PLC purchased a new position in Ellington Credit during the 3rd quarter valued at approximately $334,000. Finally, FMR LLC increased 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 worth $34,000 after acquiring an additional 3,429 shares during the last quarter. Institutional investors own 20.40% of the company's stock.
Ellington Credit Company Profile
(
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.
See Also
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