Wolverine Asset Management LLC Sells 6,873 Shares of Ellington Residential Mortgage REIT (NYSE:EARN)

Wolverine Asset Management LLC decreased its holdings in Ellington Residential Mortgage REIT (NYSE:EARNGet Rating) by 39.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,449 shares of the real estate investment trust’s stock after selling 6,873 shares during the period. Wolverine Asset Management LLC owned 0.08% of Ellington Residential Mortgage REIT worth $105,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in EARN. Envestnet Asset Management Inc. lifted its stake in Ellington Residential Mortgage REIT by 6.5% in the first quarter. Envestnet Asset Management Inc. now owns 32,401 shares of the real estate investment trust’s stock worth $327,000 after purchasing an additional 1,965 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Ellington Residential Mortgage REIT by 19.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 13,258 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 2,130 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in Ellington Residential Mortgage REIT by 8.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 30,929 shares of the real estate investment trust’s stock worth $321,000 after purchasing an additional 2,502 shares during the last quarter. Finally, Mariner Investment Group LLC bought a new stake in Ellington Residential Mortgage REIT in the fourth quarter worth about $342,000. Institutional investors own 27.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Credit Suisse Group decreased their price objective on shares of Ellington Residential Mortgage REIT to $9.00 and set a “na” rating for the company in a research note on Monday, May 16th. Piper Sandler decreased their price objective on shares of Ellington Residential Mortgage REIT from $10.50 to $9.00 and set an “overweight” rating for the company in a research note on Tuesday, June 28th. Finally, StockNews.com lowered shares of Ellington Residential Mortgage REIT from a “hold” rating to a “sell” rating in a research report on Thursday, May 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.25.

Ellington Residential Mortgage REIT Stock Performance

Shares of NYSE:EARN opened at $8.48 on Thursday. The firm has a market cap of $111.17 million, a PE ratio of -4.63 and a beta of 1.68. The firm’s 50 day simple moving average is $7.78 and its 200-day simple moving average is $8.90. Ellington Residential Mortgage REIT has a one year low of $6.40 and a one year high of $12.44.

Ellington Residential Mortgage REIT (NYSE:EARNGet Rating) last issued its quarterly earnings data 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 quarter in the previous year, the business earned $0.31 EPS. Equities research analysts predict that Ellington Residential Mortgage REIT will post 1.26 EPS for the current fiscal year.

Ellington Residential Mortgage REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 25th. Investors of record on Friday, July 29th will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 11.32%. The ex-dividend date of this dividend is Thursday, July 28th. Ellington Residential Mortgage REIT’s payout ratio is -52.46%.

Ellington Residential Mortgage REIT Profile

(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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Institutional Ownership by Quarter for Ellington Residential Mortgage REIT (NYSE:EARN)

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