Ellington Residential Mortgage REIT Plans Monthly Dividend of $0.08 (NYSE:EARN)

Ellington Residential Mortgage REIT (NYSE:EARN) declared a monthly dividend on Thursday, September 7th, Wall Street Journal reports. Stockholders of record on Friday, September 29th will be paid a dividend of 0.08 per share by the real estate investment trust on Wednesday, October 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.91%. The ex-dividend date of this dividend is Thursday, September 28th.

Ellington Residential Mortgage REIT has decreased its dividend by an average of 4.1% per year over the last three years. Ellington Residential Mortgage REIT has a dividend payout ratio of 88.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Ellington Residential Mortgage REIT to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 85.7%.

Ellington Residential Mortgage REIT Stock Up 3.2 %

EARN opened at $6.44 on Friday. The business’s fifty day simple moving average is $6.94 and its 200 day simple moving average is $7.10. Ellington Residential Mortgage REIT has a 52 week low of $5.70 and a 52 week high of $8.15. The stock has a market cap of $97.31 million, a PE ratio of 64.40 and a beta of 1.78.

Institutional Trading of Ellington Residential Mortgage REIT

Several hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its holdings in shares of Ellington Residential Mortgage REIT by 0.3% in the first quarter. Renaissance Technologies LLC now owns 434,600 shares of the real estate investment trust’s stock worth $3,173,000 after buying an additional 1,500 shares during the period. Envestnet Asset Management Inc. increased its stake in Ellington Residential Mortgage REIT by 6.5% in the 1st 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 period. Royal Bank of Canada lifted its position in Ellington Residential Mortgage REIT by 6.0% in the third 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 last quarter. Two Sigma Advisers LP boosted its stake in shares of Ellington Residential Mortgage REIT by 4.1% during the third 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, Northern Trust Corp grew its holdings in shares of Ellington Residential Mortgage REIT by 10.0% in the second quarter. Northern Trust Corp now owns 37,448 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 3,412 shares during the last quarter. 18.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Ellington Residential Mortgage REIT in a research report on Thursday, August 17th. They set a “hold” rating on the stock.

Ellington Residential Mortgage REIT Company Profile

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.