Ellington Residential Mortgage REIT (EARN) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Ellington Residential Mortgage REIT (NYSE:EARN) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

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. “

Shares of EARN stock opened at $11.74 on Tuesday. Ellington Residential Mortgage REIT has a 12 month low of $10.14 and a 12 month high of $12.14. The stock has a market cap of $149.17 million, a price-to-earnings ratio of 8.83 and a beta of 0.74.

Ellington Residential Mortgage REIT (NYSE:EARN) last issued its earnings results on Monday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $4.79 million for the quarter. Ellington Residential Mortgage REIT had a negative net margin of 51.26% and a positive return on equity of 10.15%. As a group, equities analysts predict that Ellington Residential Mortgage REIT will post 1.36 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Friday, March 29th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 11.58%. The ex-dividend date is Thursday, March 28th. Ellington Residential Mortgage REIT’s dividend payout ratio (DPR) is 101.49%.

Institutional investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System grew its holdings in shares of Ellington Residential Mortgage REIT by 3.2% in the fourth quarter. California Public Employees Retirement System now owns 29,284 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 916 shares in the last quarter. Wedbush Securities Inc. grew its holdings in shares of Ellington Residential Mortgage REIT by 9.4% in the fourth quarter. Wedbush Securities Inc. now owns 13,020 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 1,120 shares in the last quarter. Renaissance Technologies LLC grew its holdings 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 purchasing an additional 5,200 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Ellington Residential Mortgage REIT by 12.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 81,115 shares of the real estate investment trust’s stock valued at $830,000 after purchasing an additional 9,158 shares in the last quarter. Finally, Advisor Group Inc. grew its holdings in shares of Ellington Residential Mortgage REIT by 1,619.0% in the fourth quarter. Advisor Group Inc. now owns 10,314 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 9,714 shares in the last quarter. 63.60% of the stock is currently owned by institutional investors and hedge funds.

About Ellington Residential Mortgage REIT

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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