Ellington Residential Mortgage REIT (NYSE: EARN) Given Average Recommendation of “Hold” by Analysts

Ellington Residential Mortgage REIT (NYSE: EARN – Get Rating) has received an average recommendation of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $ 10.25.

A number of brokerages have recently commented on EARN. JMP Securities cut shares of Ellington Residential Mortgage REIT from an “outperform” rating to a “market perform” rating in a research report on Friday, April 1st. StockNews.com upgraded shares of Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a research report on Thursday, May 12th. Piper Sandler reduced 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 report on Wednesday, March 9th. Zacks Investment Research raised shares of Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. Finally, Credit Suisse Group dropped their price objective on shares of Ellington Residential Mortgage REIT to $ 9.00 and set a “na” rating for the company in a report on Monday, May 16th.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Morgan Stanley raised its holdings in Ellington Residential Mortgage REIT by 3.3% in the third quarter. Morgan Stanley now owns 42,598 shares of the real estate investment trust’s stock valued at $ 476,000 after acquiring an additional 1,352 shares in the last quarter. Wolverine Asset Management LLC raised its holdings in Ellington Residential Mortgage REIT by 11.5% in the fourth quarter. Wolverine Asset Management LLC now owns 17,322 shares of the real estate investment trust’s stock valued at $ 179,000 after acquiring an additional 1,785 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Ellington Residential Mortgage REIT by 6.5% during the first quarter. Envestnet Asset Management Inc. now owns 32,401 shares of the real estate investment trust’s stock worth $ 327,000 after purchasing an additional 1,965 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Ellington Residential Mortgage REIT by 19.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 13,258 shares of the real estate investment trust’s stock worth $ 138,000 after purchasing an additional 2,130 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its holdings in Ellington Residential Mortgage REIT by 20.7% during the third quarter. Deprince Race & Zollo Inc. now owns 14,000 shares of the real estate investment trust’s stock worth $ 156,000 after purchasing an additional 2,400 shares in the last quarter. 27.47% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE EARN opened at $ 7.92 on Wednesday. The company’s fifty day moving average price is $ 9.03 and its 200 day moving average price is $ 10.04. Ellington Residential Mortgage REIT has a 1 year low of $ 7.50 and a 1 year high of $ 13.92. The company has a market capitalization of $ 103.83 million, a PE ratio of -4.33 and a beta of 1.73.

Ellington Residential Mortgage REIT (NYSE: EARN – Get Rating) last posted its quarterly earnings data on Monday, May 2nd. The real estate investment trust reported $ 0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $ 0.31 by ($ 0.01). Ellington Residential Mortgage REIT had a positive return on equity of 10.68% and a negative net margin of 94.41%. During the same quarter last year, the firm earned $ 0.31 EPS. As a group, equities analysts predict that Ellington Residential Mortgage REIT will post 1.26 earnings per share for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 27th. Stockholders of record on Tuesday, May 31st will be paid a $ 0.08 dividend. This represents a $ 0.96 annualized dividend and a dividend yield of 12.12%. The ex-dividend date is Friday, May 27th. Ellington Residential Mortgage REIT’s payout ratio is -65.57%.

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.

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