Ellington Residential Mortgage REIT (NYSE:EARN) Receives Average Recommendation of "Hold" from Analysts

February 8, 2023

Shares of Ellington Residential Mortgage REIT (NYSE:EARN - Get Rating) have earned a consensus recommendation of "Hold" from the six research firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $7.75.

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EARN has been the subject of a number of recent research reports. Jonestrading initiated coverage on Ellington Residential Mortgage REIT in a research note on Monday, December 19th. They issued a "hold" rating for the company. StockNews.com upgraded Ellington Residential Mortgage REIT from a "sell" rating to a "hold" rating in a research report on Wednesday, January 18th. Finally, Credit Suisse Group upped their price target on Ellington Residential Mortgage REIT to $7.50 in a research report on Friday, December 2nd.

Ellington Residential Mortgage REIT Stock Down 2.5 %

Shares of EARN stock opened at $7.79 on Tuesday. Ellington Residential Mortgage REIT has a 12 month low of $5.70 and a 12 month high of $10.50. The firm has a market cap of $101.89 million, a PE ratio of -2.29 and a beta of 1.77. The stock has a 50 day moving average of $7.44 and a 200-day moving average of $7.44.

Ellington Residential Mortgage REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, February 27th. Shareholders of record on Tuesday, January 31st will be paid a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 12.32%. The ex-dividend date of this dividend is Monday, January 30th. Ellington Residential Mortgage REIT's payout ratio is -28.24%.

Hedge Funds Weigh In On Ellington Residential Mortgage REIT

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Ellington Residential Mortgage REIT by 19.8% during the third quarter. Vanguard Group Inc. now owns 716,071 shares of the real estate investment trust's stock worth $4,419,000 after purchasing an additional 118,304 shares during the period. Almitas Capital LLC raised its position in shares of Ellington Residential Mortgage REIT by 34.3% during the third quarter. Almitas Capital LLC now owns 238,993 shares of the real estate investment trust's stock worth $1,475,000 after purchasing an additional 60,997 shares during the period. Wolverine Asset Management LLC raised its position in shares of Ellington Residential Mortgage REIT by 721.2% during the third quarter. Wolverine Asset Management LLC now owns 54,325 shares of the real estate investment trust's stock worth $335,000 after purchasing an additional 47,710 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Ellington Residential Mortgage REIT during the third quarter worth about $138,000. Finally, Invesco Ltd. raised its position in shares of Ellington Residential Mortgage REIT by 77.5% during the first quarter. Invesco Ltd. now owns 34,198 shares of the real estate investment trust's stock worth $345,000 after purchasing an additional 14,928 shares during the period. Institutional investors and hedge funds own 23.88% of the company's stock.

Ellington Residential Mortgage REIT Company Profile

(Get Rating)

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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