Clear Harbor Asset Management LLC purchased a new position in shares of Ellington Credit (NYSE:EARN - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 202,355 shares of the real estate investment trust's stock, valued at approximately $1,412,000. Clear Harbor Asset Management LLC owned about 0.99% of Ellington Credit at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of Ellington Credit in the 3rd quarter worth about $468,000. Renaissance Technologies LLC raised its stake in Ellington Credit by 78.5% during the 2nd quarter. Renaissance Technologies LLC now owns 642,419 shares of the real estate investment trust's stock worth $4,465,000 after buying an additional 282,600 shares during the period. Finally, Inspire Advisors LLC raised its stake in Ellington Credit by 18.1% during the 1st quarter. Inspire Advisors LLC now owns 12,426 shares of the real estate investment trust's stock worth $86,000 after buying an additional 1,903 shares during the period. 20.40% of the stock is currently owned by institutional investors and hedge funds.
Ellington Credit Trading Down 1.2 %
Shares of EARN traded down $0.08 on Friday, reaching $6.86. The company's stock had a trading volume of 583,043 shares, compared to its average volume of 324,398. The stock has a market capitalization of $140.46 million, a PE ratio of 23.66 and a beta of 1.87. Ellington Credit has a twelve month low of $5.09 and a twelve month high of $7.26. The firm has a fifty day moving average of $6.91 and a 200-day moving average of $6.93.
Ellington Credit (NYSE:EARN - Get Free Report) last released its quarterly earnings results on Monday, August 12th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.12. The firm had revenue of $3.90 million for the quarter, compared to the consensus estimate of $6.35 million. During the same period in the previous year, the business earned $0.17 earnings per share. As a group, equities analysts anticipate that Ellington Credit will post 1.16 EPS for the current fiscal year.
Ellington Credit Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Monday, November 25th. Investors of record on Thursday, October 31st will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 13.99%. The ex-dividend date of this dividend is Thursday, October 31st. Ellington Credit's dividend payout ratio (DPR) is currently 331.03%.
About Ellington Credit
(
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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