58,848 Shares in Ellington Residential Mortgage REIT (NYSE:EARN) Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new stake in Ellington Residential Mortgage REIT (NYSE:EARN) during the fourth quarter, Holdings Channel reports. The firm purchased 58,848 shares of the real estate investment trust’s stock, valued at approximately $3,610,000.

Other hedge funds have also recently bought and sold shares of the company. Wolverine Asset Management LLC increased its holdings in Ellington Residential Mortgage REIT by 75.9% during the 3rd quarter. Wolverine Asset Management LLC now owns 75,995 shares of the real estate investment trust’s stock valued at $472,000 after purchasing an additional 32,795 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Ellington Residential Mortgage REIT during the third quarter worth $392,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Ellington Residential Mortgage REIT during the third quarter worth $184,000. 20.40% of the stock is currently owned by institutional investors and hedge funds.

Ellington Residential Mortgage REIT Stock Performance

NYSE:EARN opened at $7.04 on Friday. The company has a market cap of $139.53 million, a price-to-earnings ratio of 27.08 and a beta of 1.86. The stock’s fifty day moving average price is $6.66 and its two-hundred day moving average price is $6.20. Ellington Residential Mortgage REIT has a 52-week low of $5.09 and a 52-week high of $7.64.

Ellington Residential Mortgage REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 13.64%. The ex-dividend date is Friday, May 31st. Ellington Residential Mortgage REIT’s dividend payout ratio (DPR) is presently 369.23%.

Analysts Set New Price Targets

EARN has been the topic of several research reports. StockNews.com upgraded shares of Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th. JMP Securities reaffirmed a “market perform” rating on shares of Ellington Residential Mortgage REIT in a research note on Thursday, April 18th.

About Ellington Residential Mortgage REIT

Ellington Residential Mortgage REIT, a real estate investment trust, acquires, invests in, and manages 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, such as non-agency CMOs, such as investment grade and non-investment grade.