Zacks Investment Research Upgrades Ellington Residential Mortgage REIT (NYSE: EARN) to “Hold”


Zacks Investment Research upgraded shares of Ellington Residential Mortgage REIT (NYSE: EARN – Get Rating) from a sell rating to a hold rating in a research report report published 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. “

EARN has been the subject of a number of other research reports. JMP Securities downgraded Ellington Residential Mortgage REIT from an outperform rating to a market perform rating in a report on Friday, April 1st. StockNews.com downgraded shares of Ellington Residential Mortgage REIT from a hold rating to a sell rating in a research report on Tuesday, May 3rd. 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 report on Thursday, March 10th. Piper Sandler cut their target price on shares of Ellington Residential Mortgage REIT from $ 12.50 to $ 11.50 and set an overweight rating on the stock in a report on Wednesday, March 9th. Finally, TheStreet lowered shares of Ellington Residential Mortgage REIT from a c- rating to ad rating in a report on Wednesday, March 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $ 11.13.

Shares of Ellington Residential Mortgage REIT stock opened at $ 7.95 on Tuesday. The firm has a market capitalization of $ 104.22 million, a price-to-earnings ratio of -4.34 and a beta of 1.73. Ellington Residential Mortgage REIT has a fifty-two week low of $ 7.80 and a fifty-two week high of $ 13.92. The firm has a 50 day moving average of $ 9.37.

Ellington Residential Mortgage REIT (NYSE: EARN – Get Rating) last issued its earnings results on Monday, May 2nd. The real estate investment trust reported $ 0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $ 0.31 by ($ 0.01). Ellington Residential Mortgage REIT had a negative net margin of 94.41% and a positive return on equity of 10.25%. During the same quarter in the prior year, the business posted $ 0.31 earnings per share. Research analysts forecast that Ellington Residential Mortgage REIT will post 1.26 EPS for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 27th. Stockholders of record on Tuesday, May 31st will be given a dividend of $ 0.08 per share. This represents a $ 0.96 annualized dividend and a dividend yield of 12.08%. The ex-dividend date is Friday, May 27th. Ellington Residential Mortgage REIT’s dividend payout ratio is -65.57%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP bought a new stake in Ellington Residential Mortgage REIT in the 1st quarter valued at approximately $ 40,000. Morgan Stanley lifted its position in shares of Ellington Residential Mortgage REIT by 596.4% in the second quarter. Morgan Stanley now owns 41,246 shares of the real estate investment trust’s stock worth $ 485,000 after purchasing an additional 35,323 shares in the last quarter. Citadel Advisors LLC acquired a new position in Ellington Residential Mortgage REIT during the second quarter worth $ 257,000. SG Americas Securities LLC grew its position in Ellington Residential Mortgage REIT by 38.4% in the third quarter. SG Americas Securities LLC now owns 13,778 shares of the real estate investment trust’s stock valued at $ 154,000 after purchasing an additional 3,823 shares in the last quarter. Finally, Advisor Group Holdings Inc. grew its position in Ellington Residential Mortgage REIT by 70.4% in the third quarter. Advisor Group Holdings Inc. now owns 28,427 shares of the real estate investment trust’s stock valued at $ 317,000 after purchasing an additional 11,748 shares in the last quarter. 27.47% of the stock is currently owned by institutional investors and hedge funds.

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

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