Zacks Investment Research downgraded shares of Ellington Residential Mortgage REIT (NYSE:EARN) from a buy rating to a hold rating in a research report report published on Tuesday morning.

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. “

Separately, Deutsche Bank AG reduced their price objective on shares of Ellington Residential Mortgage REIT from $14.50 to $14.00 and set a hold rating for the company in a research note on Wednesday, August 2nd.

Shares of Ellington Residential Mortgage REIT (NYSE:EARN) traded up 0.28% during trading on Tuesday, hitting $14.50. The stock had a trading volume of 5,157 shares. Ellington Residential Mortgage REIT has a 1-year low of $12.21 and a 1-year high of $15.74. The company has a market cap of $191.47 million, a PE ratio of 11.24 and a beta of 0.64. The firm’s 50 day moving average is $14.58 and its 200 day moving average is $14.72.

Ellington Residential Mortgage REIT (NYSE:EARN) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. Ellington Residential Mortgage REIT had a return on equity of 12.25% and a net margin of 44.93%. The firm had revenue of $6.86 million for the quarter. Equities research analysts anticipate that Ellington Residential Mortgage REIT will post $1.89 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, September 29th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.07%. Ellington Residential Mortgage REIT’s dividend payout ratio (DPR) is currently 121.21%.

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in Ellington Residential Mortgage REIT by 639.1% during the first quarter. JPMorgan Chase & Co. now owns 7,539 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 6,519 shares during the period. Bessemer Group Inc. purchased a new position in Ellington Residential Mortgage REIT during the second quarter worth about $119,000. New York State Common Retirement Fund purchased a new position in Ellington Residential Mortgage REIT during the second quarter worth about $130,000. BB&T Securities LLC grew its position in Ellington Residential Mortgage REIT by 1.6% during the first quarter. BB&T Securities LLC now owns 10,235 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 160 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Ellington Residential Mortgage REIT during the second quarter worth about $155,000. Institutional investors own 62.11% of the company’s stock.

Ellington Residential Mortgage REIT Company Profile

Ellington Residential Mortgage REIT is a real estate investment trust. The Company conducts its business through its subsidiaries, EARN OP GP LLC and Ellington Residential Mortgage LP (the Operating Partnership). It specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets.

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