Ellington Residential Mortgage REIT (EARN) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Ellington Residential Mortgage REIT (NYSE:EARN) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

According to Zacks, “Ellington Residential Mortgage REIT is a real estate investment trust that specializes in acquiring, investing in and managing residential mortgage and real estate-related assets. Ellington Residential Mortgage REIT is based in United States. “

Separately, Deutsche Bank AG lowered their price target on shares of Ellington Residential Mortgage REIT from $14.50 to $14.00 and set a hold rating on the stock in a research note on Wednesday, August 2nd.

Ellington Residential Mortgage REIT (EARN) traded down 0.41% during trading on Thursday, reaching $14.46. 108,495 shares of the company’s stock traded hands. The firm has a market cap of $190.94 million, a PE ratio of 11.21 and a beta of 0.64. Ellington Residential Mortgage REIT has a 12 month low of $12.21 and a 12 month high of $15.74. The firm has a 50 day moving average price of $14.58 and a 200-day moving average price of $14.69.

Ellington Residential Mortgage REIT (NYSE:EARN) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Ellington Residential Mortgage REIT had a net margin of 44.93% and a return on equity of 12.25%. The firm had revenue of $6.86 million for the quarter. On average, analysts forecast that Ellington Residential Mortgage REIT will post $1.89 earnings per share for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Ellington Residential Mortgage REIT by 639.1% during the 1st quarter. JPMorgan Chase & Co. now owns 7,539 shares of the real estate investment trust’s stock worth $111,000 after purchasing an additional 6,519 shares during the last quarter. Bessemer Group Inc. acquired a new position in shares of Ellington Residential Mortgage REIT during the 2nd quarter worth about $119,000. New York State Common Retirement Fund acquired a new position in shares of Ellington Residential Mortgage REIT during the 2nd quarter worth about $130,000. BB&T Securities LLC increased its stake in shares of Ellington Residential Mortgage REIT by 1.6% during the 1st quarter. BB&T Securities LLC now owns 10,235 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 160 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Ellington Residential Mortgage REIT during the 2nd quarter worth about $155,000. Institutional investors own 62.11% of the company’s stock.

Ellington Residential Mortgage REIT Company Profile

Ellington Residential Mortgage REIT is a real estate investment trust. The Company conducts its business through its subsidiaries, EARN OP GP LLC and Ellington Residential Mortgage LP (the Operating Partnership). It specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets.

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