Zacks: Brokerages Expect Ellington Residential Mortgage REIT (EARN) Will Announce Earnings of $0.31 Per Share

Equities research analysts expect Ellington Residential Mortgage REIT (NYSE:EARN) to announce earnings per share (EPS) of $0.31 for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Ellington Residential Mortgage REIT’s earnings. Ellington Residential Mortgage REIT reported earnings of $0.40 per share during the same quarter last year, which indicates a negative year over year growth rate of 22.5%. The business is scheduled to issue its next earnings report on Thursday, February 14th.

According to Zacks, analysts expect that Ellington Residential Mortgage REIT will report full-year earnings of $1.33 per share for the current fiscal year. For the next year, analysts expect that the company will post earnings of $1.10 per share. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Ellington Residential Mortgage REIT.

Ellington Residential Mortgage REIT (NYSE:EARN) last released its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.05). The business had revenue of $4.65 million for the quarter. Ellington Residential Mortgage REIT had a negative net margin of 1.77% and a positive return on equity of 10.35%.

A number of research firms recently issued reports on EARN. ValuEngine raised shares of Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Investment Research downgraded shares of Ellington Residential Mortgage REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. Finally, TheStreet raised shares of Ellington Residential Mortgage REIT from a “d+” rating to a “c” rating in a research note on Thursday, August 30th.

In other Ellington Residential Mortgage REIT news, major shareholder Holdings L.P. Blackstone III purchased 25,912 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The shares were bought at an average price of $10.82 per share, with a total value of $280,367.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have purchased 40,515 shares of company stock worth $444,625. 2.00% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blackstone Group L.P. raised its stake in shares of Ellington Residential Mortgage REIT by 2.8% in the third quarter. Blackstone Group L.P. now owns 3,005,829 shares of the real estate investment trust’s stock valued at $33,936,000 after acquiring an additional 81,306 shares during the period. Wedbush Securities Inc. purchased a new stake in shares of Ellington Residential Mortgage REIT in the third quarter valued at $134,000. Renaissance Technologies LLC raised its stake in shares of Ellington Residential Mortgage REIT by 0.6% in the third quarter. Renaissance Technologies LLC now owns 870,600 shares of the real estate investment trust’s stock valued at $9,829,000 after acquiring an additional 5,200 shares during the period. FMR LLC raised its stake in shares of Ellington Residential Mortgage REIT by 38.3% in the third quarter. FMR LLC now owns 529,000 shares of the real estate investment trust’s stock valued at $5,972,000 after acquiring an additional 146,400 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Ellington Residential Mortgage REIT by 16.2% in the third quarter. BlackRock Inc. now owns 317,919 shares of the real estate investment trust’s stock valued at $3,589,000 after acquiring an additional 44,303 shares during the period. 61.97% of the stock is currently owned by institutional investors and hedge funds.

Ellington Residential Mortgage REIT stock opened at $10.99 on Wednesday. The firm has a market cap of $136.57 million, a P/E ratio of 6.11 and a beta of 0.55. Ellington Residential Mortgage REIT has a 52-week low of $10.23 and a 52-week high of $13.14.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Investors of record on Friday, September 28th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 13.47%. The ex-dividend date of this dividend was Thursday, September 27th. Ellington Residential Mortgage REIT’s payout ratio is 82.22%.

Ellington Residential Mortgage REIT Company Profile

Ellington Residential Mortgage REIT, a real estate investment trust, specializes in acquiring, investing in, and managing 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 comprising non-agency CMOs, such as investment grade and non-investment grade.

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