Ellington Residential Mortgage REIT (NYSE:EARN) Stock Price Crosses Below Two Hundred Day Moving Average of $7.05

Ellington Residential Mortgage REIT (NYSE:EARN) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.05 and traded as low as $6.47. Ellington Residential Mortgage REIT shares last traded at $6.50, with a volume of 94,568 shares.

Analyst Upgrades and Downgrades

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

Ellington Residential Mortgage REIT Trading Up 0.3 %

The firm has a 50-day simple moving average of $6.88 and a two-hundred day simple moving average of $7.05. The company has a market capitalization of $98.22 million, a price-to-earnings ratio of 65.00 and a beta of 1.78.

Ellington Residential Mortgage REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, September 29th will be issued a $0.08 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.96 dividend on an annualized basis and a yield of 14.77%. Ellington Residential Mortgage REIT’s dividend payout ratio is currently 960.00%.

Institutional Trading of Ellington Residential Mortgage REIT

A number of institutional investors have recently added to or reduced their stakes in EARN. Osaic Holdings Inc. lifted its position in shares of Ellington Residential Mortgage REIT by 12.6% in the second quarter. Osaic Holdings Inc. now owns 49,698 shares of the real estate investment trust’s stock worth $358,000 after buying an additional 5,553 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Ellington Residential Mortgage REIT by 1.2% in the 2nd quarter. Renaissance Technologies LLC now owns 440,000 shares of the real estate investment trust’s stock worth $3,172,000 after purchasing an additional 5,400 shares during the last quarter. BlackRock Inc. boosted its position in Ellington Residential Mortgage REIT by 3.0% during the second quarter. BlackRock Inc. now owns 231,721 shares of the real estate investment trust’s stock worth $1,671,000 after purchasing an additional 6,826 shares during the period. Northern Trust Corp grew its holdings in Ellington Residential Mortgage REIT by 10.0% during the second quarter. Northern Trust Corp now owns 37,448 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 3,412 shares during the last quarter. Finally, Wolverine Asset Management LLC raised its position in shares of Ellington Residential Mortgage REIT by 50.0% in the second quarter. Wolverine Asset Management LLC now owns 43,200 shares of the real estate investment trust’s stock valued at $311,000 after purchasing an additional 14,401 shares during the period. 18.41% of the stock is currently owned by institutional investors and hedge funds.

About Ellington Residential Mortgage REIT

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.