StockNews.com upgraded shares of Ellington Credit (NYSE:EARN - Free Report) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
Ellington Credit Stock Performance
Shares of NYSE:EARN traded down $0.08 on Wednesday, hitting $6.57. 341,231 shares of the company were exchanged, compared to its average volume of 327,879. The firm has a market capitalization of $189.07 million, a price-to-earnings ratio of 5.86 and a beta of 1.87. Ellington Credit has a one year low of $5.54 and a one year high of $7.26. The company's 50 day moving average price is $6.77 and its two-hundred day moving average price is $6.91.
Ellington Credit (NYSE:EARN - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $4.75 million for the quarter, compared to analysts' expectations of $7.55 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. During the same period in the prior year, the firm earned $0.21 earnings per share. Research analysts predict that Ellington Credit will post 1.16 earnings per share for the current year.
Ellington Credit Dividend Announcement
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, December 26th. Investors of record on Friday, November 29th will be given a $0.08 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 14.62%. Ellington Credit's dividend payout ratio is presently 85.71%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of EARN. Barclays PLC acquired a new stake in Ellington Credit during the third quarter worth about $334,000. Geode Capital Management LLC increased its stake in Ellington Credit by 21.6% in the third quarter. Geode Capital Management LLC now owns 269,850 shares of the real estate investment trust's stock valued at $1,885,000 after acquiring an additional 47,998 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Ellington Credit during the third quarter valued at approximately $220,000. FMR LLC boosted its holdings in shares of 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 purchasing an additional 3,429 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Ellington Credit during the 3rd quarter worth $170,000. 20.40% of the stock is owned by institutional investors and hedge funds.
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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