Ellington Residential Mortgage REIT (NYSE:EARN - Get Rating) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Friday.
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Several other brokerages have also weighed in on EARN. Credit Suisse Group increased their price objective on Ellington Residential Mortgage REIT to $7.50 in a report on Friday, December 2nd. Jonestrading initiated coverage on Ellington Residential Mortgage REIT in a report on Monday, December 19th. They set a "hold" rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Ellington Residential Mortgage REIT has a consensus rating of "Hold" and an average target price of $8.83.
Shares of EARN stock traded down $0.09 during trading on Friday, hitting $7.84. The company's stock had a trading volume of 111,762 shares, compared to its average volume of 92,883. The company has a market cap of $102.54 million, a PE ratio of -2.31 and a beta of 1.77. The business has a fifty day moving average of $7.63 and a 200-day moving average of $7.40. Ellington Residential Mortgage REIT has a 52 week low of $5.70 and a 52 week high of $10.37.
A number of large investors have recently made changes to their positions in EARN. Vanguard Group Inc. boosted its holdings in shares of Ellington Residential Mortgage REIT by 19.8% in the third quarter. Vanguard Group Inc. now owns 716,071 shares of the real estate investment trust's stock worth $4,419,000 after acquiring an additional 118,304 shares during the period. Almitas Capital LLC raised its position in shares of Ellington Residential Mortgage REIT by 34.3% in the third quarter. Almitas Capital LLC now owns 238,993 shares of the real estate investment trust's stock worth $1,475,000 after buying an additional 60,997 shares in the last quarter. Wolverine Asset Management LLC raised its position in shares of Ellington Residential Mortgage REIT by 721.2% in the third quarter. Wolverine Asset Management LLC now owns 54,325 shares of the real estate investment trust's stock worth $335,000 after buying an additional 47,710 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Ellington Residential Mortgage REIT in the third quarter worth $138,000. Finally, Invesco Ltd. raised its position in shares of Ellington Residential Mortgage REIT by 77.5% in the first quarter. Invesco Ltd. now owns 34,198 shares of the real estate investment trust's stock worth $345,000 after buying an additional 14,928 shares in the last quarter. 23.88% of the stock is owned by institutional investors.
Ellington Residential Mortgage REIT is a real estate investment trust, which engages in the acquisition, investment, and management of residential mortgage and real estate-related assets. Its portfolio include non-agency and agency residential mortgage-backed securities and acquires other target assets, such as residential whole mortgage loans, commercial mortgage-backed securities, mortgage-related derivatives, and other asset-backed securities.
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