Zacks Investment Research upgraded shares of Ellington Residential Mortgage REIT (NYSE:EARN) from a sell rating to a hold rating in a research report sent to investors 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, BidaskClub cut shares of Ellington Residential Mortgage REIT from a sell rating to a strong sell rating in a research note on Friday, November 3rd.

Ellington Residential Mortgage REIT (EARN) traded down $0.01 during trading hours on Tuesday, reaching $11.40. 180,200 shares of the company traded hands, compared to its average volume of 200,167. The firm has a market cap of $152.16, a PE ratio of 10.65 and a beta of 0.59. Ellington Residential Mortgage REIT has a 1 year low of $11.39 and a 1 year high of $15.74.

Ellington Residential Mortgage REIT (NYSE:EARN) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.02). The company had revenue of $7.15 million for the quarter. Ellington Residential Mortgage REIT had a net margin of 40.44% and a return on equity of 12.02%. equities research analysts anticipate that Ellington Residential Mortgage REIT will post 1.86 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Friday, December 29th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 12.98%. The ex-dividend date of this dividend is Thursday, December 28th. Ellington Residential Mortgage REIT’s dividend payout ratio is 138.32%.

Several hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp raised its stake in shares of Ellington Residential Mortgage REIT by 16.8% in the 3rd quarter. Mackenzie Financial Corp now owns 46,033 shares of the real estate investment trust’s stock valued at $668,000 after buying an additional 6,615 shares in the last quarter. BB&T Securities LLC raised its stake in shares of Ellington Residential Mortgage REIT by 16.3% in the 3rd quarter. BB&T Securities LLC now owns 29,925 shares of the real estate investment trust’s stock valued at $434,000 after buying an additional 4,200 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Ellington Residential Mortgage REIT by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 342,740 shares of the real estate investment trust’s stock valued at $4,953,000 after buying an additional 22,782 shares in the last quarter. ClariVest Asset Management LLC raised its stake in shares of Ellington Residential Mortgage REIT by 8.6% in the 3rd quarter. ClariVest Asset Management LLC now owns 295,251 shares of the real estate investment trust’s stock valued at $4,287,000 after buying an additional 23,422 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Ellington Residential Mortgage REIT in the 3rd quarter valued at $109,000. Institutional investors own 66.67% of the company’s stock.

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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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