Ellington Residential Mortgage REIT Announces Monthly Dividend of $ 0.08 (NYSE: EARN)


Ellington Residential Mortgage REIT (NYSE: EARN – Get Rating) announced a monthly dividend on Monday, May 2nd, Zacks reports. Investors of record on Tuesday, May 31st will be given a dividend of 0.08 per share by the real estate investment trust on Monday, June 27th. This represents a $ 0.96 dividend on an annualized basis and a yield of 11.05%. The ex-dividend date of this dividend is Friday, May 27th.

Ellington Residential Mortgage REIT has decreased its dividend payment by an average of 6.6% annually over the last three years. Ellington Residential Mortgage REIT has a payout ratio of 115.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Ellington Residential Mortgage REIT to earn $ 1.30 per share next year, which means the company should continue to be able to cover its $ 1.20 annual dividend with an expected future payout ratio of 92.3%.

EARN stock opened at $ 8.69 on Wednesday. The stock has a 50 day moving average of $ 9.50. Ellington Residential Mortgage REIT has a 52 week low of $ 8.19 and a 52 week high of $ 13.92.

Ellington Residential Mortgage REIT (NYSE: EARN – Get Rating) last announced its quarterly earnings data on Monday, May 2nd. The real estate investment trust reported $ 0.30 EPS for the quarter, missing the consensus estimate of $ 0.31 by ($ 0.01). Ellington Residential Mortgage REIT had a negative net margin of 24.60% and a positive return on equity of 10.08%. During the same quarter last year, the firm earned $ 0.31 EPS. Analysts anticipate that Ellington Residential Mortgage REIT will post 1.26 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of EARN. Morgan Stanley lifted its stake in shares of Ellington Residential Mortgage REIT by 596.4% in the 2nd quarter. Morgan Stanley now owns 41,246 shares of the real estate investment trust’s stock valued at $ 485,000 after purchasing an additional 35,323 shares during the period. Citadel Advisors LLC purchased a new stake in Ellington Residential Mortgage REIT in the 2nd quarter worth $ 257,000. Squarepoint Ops LLC purchased a new stake in Ellington Residential Mortgage REIT in the 4th quarter worth $ 170,000. Thrivent Financial for Lutherans increased its holdings in Ellington Residential Mortgage REIT by 17.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 92,772 shares of the real estate investment trust’s stock worth $ 964,000 after acquiring an additional 13,643 shares in the last quarter. Finally, Penserra Capital Management LLC increased its holdings in Ellington Residential Mortgage REIT by 168.3% in the 4th quarter. Penserra Capital Management LLC now owns 19,798 shares of the real estate investment trust’s stock worth $ 205,000 after acquiring an additional 12,419 shares in the last quarter. Hedge funds and other institutional investors own 27.47% of the company’s stock.

Several brokerages have commented on EARN. TheStreet cut shares of Ellington Residential Mortgage REIT from a “c-” rating to a “d” rating in a research note on Wednesday, March 9th. JMP Securities cut shares of Ellington Residential Mortgage REIT from an “outperform” rating to a “market perform” rating in a research note on Friday, April 1st. Credit Suisse Group decreased their price objective on shares of Ellington Residential Mortgage REIT from $ 11.50 to $ 10.00 and set a “neutral” rating for the company in a research note on Thursday, March 10th. Zacks Investment Research cut shares of Ellington Residential Mortgage REIT from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 10th. Finally, Piper Sandler decreased their target price on shares of Ellington Residential Mortgage REIT from $ 12.50 to $ 11.50 and set an “overweight” rating for the company in a research note on Wednesday, March 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $ 11.13.

About Ellington Residential Mortgage REIT (Get Rating)

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.

See Also

Dividend History for Ellington Residential Mortgage REIT (NYSE: EARN)



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