Ellington Residential Mortgage REIT (NYSE:EARN) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Ellington Residential Mortgage REIT (NYSE:EARNGet Rating) from a sell rating to a hold rating in a report published on Wednesday morning, 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. “

A number of other analysts have also recently weighed in on EARN. StockNews.com cut shares of Ellington Residential Mortgage REIT from a hold rating to a sell rating in a report on Tuesday. Credit Suisse Group lowered their price target on shares of Ellington Residential Mortgage REIT from $11.50 to $10.00 and set a neutral rating on the stock in a report on Thursday, March 10th. JMP Securities cut shares of Ellington Residential Mortgage REIT from an outperform rating to a market perform rating in a report on Friday, April 1st. Piper Sandler lowered their price target 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 a d rating in a research report on Wednesday, March 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Ellington Residential Mortgage REIT has an average rating of Hold and an average target price of $11.13.

Shares of Ellington Residential Mortgage REIT stock opened at $8.94 on Wednesday. Ellington Residential Mortgage REIT has a 1 year low of $8.19 and a 1 year high of $13.92. The firm’s 50-day moving average is $9.48 and its two-hundred day moving average is $10.41.

Ellington Residential Mortgage REIT (NYSE:EARNGet 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 Thomson Reuters’ consensus estimate of $0.31 by ($0.01). Ellington Residential Mortgage REIT had a positive return on equity of 10.25% and a negative net margin of 94.41%. During the same quarter in the prior year, the firm earned $0.31 EPS. As a group, equities research analysts forecast that Ellington Residential Mortgage REIT will post 1.26 earnings per share for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 27th. Investors of record on Tuesday, May 31st will be given a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 10.74%. The ex-dividend date is Friday, May 27th. Ellington Residential Mortgage REIT’s payout ratio is currently -65.57%.

A number of institutional investors and hedge funds have recently bought and sold shares of EARN. HBK Investments L P purchased a new position in Ellington Residential Mortgage REIT during the 3rd quarter worth approximately $3,152,000. BlackRock Inc. raised its position in Ellington Residential Mortgage REIT by 27.0% during the 3rd quarter. BlackRock Inc. now owns 508,205 shares of the real estate investment trust’s stock worth $5,672,000 after buying an additional 107,886 shares during the last quarter. EMG Holdings L.P. purchased a new position in Ellington Residential Mortgage REIT during the 3rd quarter worth approximately $1,253,000. Two Sigma Advisers LP raised its position in Ellington Residential Mortgage REIT by 89.1% during the 3rd quarter. Two Sigma Advisers LP now owns 196,100 shares of the real estate investment trust’s stock worth $2,188,000 after buying an additional 92,400 shares during the last quarter. Finally, Claybrook Capital LLC purchased a new position in Ellington Residential Mortgage REIT during the 3rd quarter worth approximately $919,000. 27.47% of the stock is owned by institutional investors.

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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