Short Interest in Ellington Credit (NYSE:EARN) Expands By 7.4%

Ellington Credit (NYSE:EARN - Get Free Report) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 716,000 shares, an increase of 7.4% from the November 15th total of 666,900 shares. Based on an average daily volume of 411,400 shares, the short-interest ratio is presently 1.7 days.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Ellington Credit from a "sell" rating to a "hold" rating in a research note on Wednesday, November 20th.

Ellington Credit Stock Down 0.9 %

Shares of EARN stock traded down $0.06 on Tuesday, reaching $6.56. The stock had a trading volume of 473,412 shares, compared to its average volume of 337,364. Ellington Credit has a 12 month low of $5.54 and a 12 month high of $7.26. The firm has a market capitalization of $188.93 million, a price-to-earnings ratio of 5.91 and a beta of 1.86. The firm's 50-day moving average is $6.72 and its two-hundred day moving average is $6.87.

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 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $4.75 million for the quarter, compared to the consensus estimate 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 previous year, the company earned $0.21 earnings per share. On average, sell-side analysts forecast that Ellington Credit will post 1.17 earnings per share for the current fiscal year.

Ellington Credit Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, January 27th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 14.63%. The ex-dividend date of this dividend is Tuesday, December 31st. Ellington Credit's payout ratio is 85.71%.

Institutional Investors Weigh In On Ellington Credit

A number of institutional investors have recently modified their holdings of EARN. Clear Harbor Asset Management LLC acquired a new stake in Ellington Credit in the 3rd quarter worth about $1,412,000. Renaissance Technologies LLC increased its holdings in shares of Ellington Credit by 78.5% during the second quarter. Renaissance Technologies LLC now owns 642,419 shares of the real estate investment trust's stock worth $4,465,000 after purchasing an additional 282,600 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Ellington Credit in the third quarter valued at approximately $468,000. Thrivent Financial for Lutherans boosted its stake in shares of Ellington Credit by 3.8% in the third quarter. Thrivent Financial for Lutherans now owns 79,466 shares of the real estate investment trust's stock valued at $554,000 after buying an additional 2,895 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Ellington Credit during the third quarter worth approximately $220,000. Institutional investors own 20.40% of the company's stock.

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.

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