StockNews.com Upgrades Ellington Residential Mortgage REIT (NYSE:EARN) to “Hold”

Ellington Residential Mortgage REIT (NYSE:EARN – Get Rating) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Ellington Residential Mortgage REIT Trading Down 0.3 %

EARN stock opened at $7.17 on Friday. The stock’s fifty day simple moving average is $7.11 and its two-hundred day simple moving average is $7.32. Ellington Residential Mortgage REIT has a 1-year low of $5.70 and a 1-year high of $8.84. The stock has a market cap of $98.87 million, a P/E ratio of -8.85 and a beta of 1.79.

Institutional Trading of Ellington Residential Mortgage REIT

Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in shares of Ellington Residential Mortgage REIT by 0.3% during the 1st quarter. Renaissance Technologies LLC now owns 434,600 shares of the real estate investment trust’s stock valued at $3,173,000 after purchasing an additional 1,500 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Ellington Residential Mortgage REIT by 6.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 32,401 shares of the real estate investment trust’s stock valued at $327,000 after purchasing an additional 1,965 shares during the period. Royal Bank of Canada raised its stake in shares of Ellington Residential Mortgage REIT by 6.0% during the 3rd quarter. Royal Bank of Canada now owns 49,330 shares of the real estate investment trust’s stock valued at $305,000 after purchasing an additional 2,809 shares during the period. Two Sigma Advisers LP raised its stake in shares of Ellington Residential Mortgage REIT by 4.1% during the 3rd quarter. Two Sigma Advisers LP now owns 83,400 shares of the real estate investment trust’s stock valued at $515,000 after purchasing an additional 3,300 shares during the period. Finally, UBS Group AG raised its stake in shares of Ellington Residential Mortgage REIT by 87.3% during the 4th quarter. UBS Group AG now owns 8,005 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 3,731 shares during the period. 23.88% of the stock is currently owned by institutional investors.

About Ellington Residential Mortgage REIT

(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.