Ellington Credit (NYSE:EARN) Short Interest Update

Ellington Credit (NYSE:EARN) was the recipient of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 662,300 shares, a drop of 13.7% from the February 28th total of 767,300 shares. Approximately 2.3% of the company’s shares are sold short. Based on an average trading volume of 668,900 shares, the short-interest ratio is presently 1.0 days.

Hedge Funds Weigh In On Ellington Credit

Several institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new stake in Ellington Credit in the 4th quarter valued at about $30,000. FMR LLC grew its stake in Ellington Credit by 243.2% in the third quarter. FMR LLC now owns 4,839 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 3,429 shares during the period. State of Wyoming acquired a new position in shares of Ellington Credit during the fourth quarter worth approximately $49,000. Naviter Wealth LLC acquired a new position in shares of Ellington Credit during the fourth quarter worth approximately $72,000. Finally, McIlrath & Eck LLC bought a new position in shares of Ellington Credit in the 4th quarter worth $80,000. Institutional investors and hedge funds own 20.40% of the company’s stock.

Ellington Credit Stock Performance

Shares of EARN stock traded down $0.07 during mid-day trading on Wednesday, hitting $5.43. The company’s stock had a trading volume of 1,032,457 shares, compared to its average volume of 470,784. Ellington Credit has a 52 week low of $5.33 and a 52 week high of $7.26. The company’s fifty day simple moving average is $6.30 and its 200-day simple moving average is $6.57. The company has a market cap of $158.46 million, a PE ratio of 4.85 and a beta of 1.96.

Ellington Credit (NYSE:EARN) last issued its quarterly earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. The firm had revenue of $6.14 million for the quarter, compared to analyst estimates of $9.65 million. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. On average, equities analysts anticipate that Ellington Credit will post 1.17 earnings per share for the current year.

Ellington Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 17.68%. The ex-dividend date of this dividend is Monday, March 31st. Ellington Credit’s payout ratio is 320.00%.

Ellington Credit Company Profile

Ellington Credit Company, a real estate investment trust, acquires, invests in, and manages 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, such as non-agency CMOs, such as investment grade and non-investment grade.