Ellington Residential Mortgage REIT (NYSE:EARN) Receives Consensus Rating of “Hold” from Brokerages

Shares of Ellington Residential Mortgage REIT (NYSE:EARNGet Rating) have received an average rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $10.25.

Several equities research analysts have weighed in on the company. TheStreet lowered Ellington Residential Mortgage REIT from a “c-” rating to a “d” rating in a research report on Wednesday, March 9th. StockNews.com raised Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a research report on Thursday, May 12th. Piper Sandler dropped their target price on Ellington Residential Mortgage REIT from $12.50 to $11.50 and set an “overweight” rating on the stock in a research report on Wednesday, March 9th. Credit Suisse Group decreased their price target on Ellington Residential Mortgage REIT to $9.00 and set a “na” rating for the company in a research note on Monday, May 16th. Finally, JMP Securities cut Ellington Residential Mortgage REIT from an “outperform” rating to a “market perform” rating in a research note on Friday, April 1st.

Large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new stake in Ellington Residential Mortgage REIT in the 1st quarter worth about $40,000. Morgan Stanley raised its stake in shares of Ellington Residential Mortgage REIT by 596.4% in the 2nd quarter. Morgan Stanley now owns 41,246 shares of the real estate investment trust’s stock valued at $485,000 after acquiring an additional 35,323 shares in the last quarter. Citadel Advisors LLC acquired a new stake in Ellington Residential Mortgage REIT in the 2nd quarter valued at approximately $257,000. SG Americas Securities LLC increased its position in Ellington Residential Mortgage REIT by 38.4% in the 3rd quarter. SG Americas Securities LLC now owns 13,778 shares of the real estate investment trust’s stock worth $154,000 after buying an additional 3,823 shares during the period. Finally, Advisor Group Holdings Inc. increased its holdings in shares of Ellington Residential Mortgage REIT by 70.4% during the 3rd quarter. Advisor Group Holdings Inc. now owns 28,427 shares of the real estate investment trust’s stock worth $317,000 after purchasing an additional 11,748 shares during the period. Institutional investors and hedge funds own 27.47% of the company’s stock.

Ellington Residential Mortgage REIT stock opened at $7.92 on Wednesday. The stock has a market cap of $103.83 million, a P/E ratio of -4.33 and a beta of 1.73. The stock has a 50 day moving average of $9.03 and a 200-day moving average of $10.04. Ellington Residential Mortgage REIT has a 52 week low of $7.50 and a 52 week high of $13.92.

Ellington Residential Mortgage REIT (NYSE:EARNGet Rating) last posted its quarterly 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 10.68%. During the same period last year, the business earned $0.31 EPS. Equities analysts forecast that Ellington Residential Mortgage REIT will post 1.26 EPS for the current year.

The business also recently declared 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. The ex-dividend date of this dividend is Friday, May 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 12.12%. Ellington Residential Mortgage REIT’s dividend payout ratio (DPR) is -65.57%.

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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