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

Ellington Residential Mortgage REIT (NYSE:EARNGet Rating) has received a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $10.25.

Several research firms recently weighed in on EARN. Credit Suisse Group cut their price objective on shares of Ellington Residential Mortgage REIT to $9.00 and set a “na” rating for the company in a research report on Monday, May 16th. TheStreet cut shares of Ellington Residential Mortgage REIT from a “c-” rating to a “d” rating in a research report on Wednesday, March 9th. Piper Sandler cut their price objective on shares of Ellington Residential Mortgage REIT from $12.50 to $11.50 and set an “overweight” rating for the company in a research report on Wednesday, March 9th. JMP Securities downgraded Ellington Residential Mortgage REIT from an “outperform” rating to a “market perform” rating in a research note on Friday, April 1st. Finally, StockNews.com downgraded Ellington Residential Mortgage REIT from a “hold” rating to a “sell” rating in a research note on Thursday, May 26th.

Shares of Ellington Residential Mortgage REIT stock opened at $6.77 on Friday. The firm has a 50-day moving average of $8.29 and a 200-day moving average of $9.56. The stock has a market cap of $88.75 million, a PE ratio of -3.70 and a beta of 1.73. Ellington Residential Mortgage REIT has a 52-week low of $6.40 and a 52-week high of $13.08.

Ellington Residential Mortgage REIT (NYSE:EARNGet Rating) last announced its earnings results on Monday, May 2nd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the firm posted $0.31 earnings per share. Equities analysts anticipate that Ellington Residential Mortgage REIT will post 1.26 EPS for the current year.

The company also recently disclosed a monthly dividend, which will be paid on Monday, July 25th. Stockholders of record on Thursday, June 30th will be paid a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 14.18%. The ex-dividend date of this dividend is Wednesday, June 29th. Ellington Residential Mortgage REIT’s dividend payout ratio is currently -52.46%.

Institutional investors have recently added to or reduced their stakes in the company. NEXT Financial Group Inc acquired a new position in shares of Ellington Residential Mortgage REIT in the fourth quarter valued at approximately $33,000. Marshall Wace LLP acquired a new stake in Ellington Residential Mortgage REIT during the 1st quarter valued at approximately $40,000. Bank of America Corp DE increased its position in Ellington Residential Mortgage REIT by 52.2% during the 4th quarter. Bank of America Corp DE now owns 11,379 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 3,902 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Ellington Residential Mortgage REIT by 19.1% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 13,258 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 2,130 shares during the period. Finally, Deprince Race & Zollo Inc. increased its position in Ellington Residential Mortgage REIT by 20.7% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 14,000 shares of the real estate investment trust’s stock valued at $156,000 after purchasing an additional 2,400 shares during the period. 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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