Ellington Residential Mortgage REIT (EARN) To Go Ex-Dividend on April 28th

Ellington Residential Mortgage REIT (NYSE:EARNGet Rating) announced a monthly dividend on Thursday, April 7th, Zacks reports. Shareholders of record on Friday, April 29th will be given a dividend of 0.10 per share by the real estate investment trust on Wednesday, May 25th. This represents a $1.20 dividend on an annualized basis and a yield of 13.20%. The ex-dividend date of this dividend is Thursday, April 28th.

Ellington Residential Mortgage REIT has decreased its dividend by an average of 6.6% annually over the last three years. Ellington Residential Mortgage REIT has a dividend payout ratio of 115.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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%.

Shares of NYSE EARN opened at $9.09 on Tuesday. Ellington Residential Mortgage REIT has a fifty-two week low of $8.61 and a fifty-two week high of $13.92. The company’s 50-day moving average is $9.64. The company has a market capitalization of $119.17 million, a PE ratio of -18.55 and a beta of 1.76.

Ellington Residential Mortgage REIT (NYSE:EARNGet Rating) last issued its quarterly earnings data on Monday, March 7th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.03). 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 in the prior year, the firm earned $0.34 EPS. As a group, equities analysts anticipate that Ellington Residential Mortgage REIT will post 1.26 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of EARN. NEXT Financial Group Inc purchased a new position in Ellington Residential Mortgage REIT in the 4th quarter worth about $33,000. Bank of America Corp DE increased its stake in Ellington Residential Mortgage REIT by 52.2% in the 4th quarter. Bank of America Corp DE now owns 11,379 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 3,902 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Ellington Residential Mortgage REIT in the 4th quarter worth about $170,000. Penserra Capital Management LLC increased its stake 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 purchasing an additional 12,419 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in Ellington Residential Mortgage REIT in the 2nd quarter worth about $257,000. 35.75% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Ellington Residential Mortgage REIT in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Credit Suisse Group cut their price objective on shares of Ellington Residential Mortgage REIT from $11.50 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, March 10th. JMP Securities lowered Ellington Residential Mortgage REIT from an “outperform” rating to a “market perform” rating in a report on Friday, April 1st. Piper Sandler lowered their target price on 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, Zacks Investment Research lowered Ellington Residential Mortgage REIT from a “hold” rating to a “strong sell” rating in a report on Thursday, March 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Ellington Residential Mortgage REIT has an average rating of “Hold” and a consensus 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.

Further Reading

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

Receive News & Ratings for Ellington Residential Mortgage REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellington Residential Mortgage REIT and related companies with MarketBeat.com's FREE daily email newsletter.