Short Interest in Ellington Credit Company (NYSE:EARN) Grows By 26.4%

Ellington Credit Company (NYSE:EARN) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 362,079 shares, a growth of 26.4% from the January 15th total of 286,387 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily volume of 463,705 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily volume of 463,705 shares, the days-to-cover ratio is presently 0.8 days. Currently, 1.0% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

EARN has been the subject of a number of research reports. UBS Group set a $6.00 price target on shares of Ellington Credit in a research report on Tuesday, December 23rd. Wall Street Zen raised Ellington Credit from a “sell” rating to a “hold” rating in a research note on Tuesday, November 11th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.25.

Ellington Credit Trading Down 2.6%

Shares of EARN stock traded down $0.14 during trading hours on Tuesday, hitting $5.09. The company’s stock had a trading volume of 1,164,168 shares, compared to its average volume of 433,906. The business has a fifty day moving average of $5.36 and a 200-day moving average of $5.42. Ellington Credit has a twelve month low of $4.32 and a twelve month high of $6.58. The stock has a market cap of $190.99 million, a price-to-earnings ratio of 63.57 and a beta of 1.27.

Ellington Credit (NYSE:EARN) last posted its earnings results on Wednesday, November 19th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $11.88 million for the quarter, compared to analyst estimates of $11.41 million. Ellington Credit had a return on equity of 16.47% and a net margin of 12.41%. On average, equities analysts expect that Ellington Credit will post 1.17 EPS for the current fiscal year.

Ellington Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be given a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 18.9%. The ex-dividend date is Friday, February 27th. Ellington Credit’s dividend payout ratio (DPR) is currently 1,200.00%.

Institutional Investors Weigh In On Ellington Credit

Hedge funds have recently modified their holdings of the company. Delphi Financial Group Inc. raised its position in shares of Ellington Credit by 230.8% in the second quarter. Delphi Financial Group Inc. now owns 608,700 shares of the real estate investment trust’s stock valued at $3,500,000 after buying an additional 424,700 shares during the last quarter. Bogart Wealth LLC grew its stake in Ellington Credit by 62.5% in the 2nd quarter. Bogart Wealth LLC now owns 5,200 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 2,000 shares during the period. Jane Street Group LLC raised its holdings in Ellington Credit by 415.4% in the 1st quarter. Jane Street Group LLC now owns 379,906 shares of the real estate investment trust’s stock valued at $2,055,000 after acquiring an additional 306,192 shares during the last quarter. Inspire Advisors LLC raised its holdings in Ellington Credit by 13.7% in the 2nd quarter. Inspire Advisors LLC now owns 19,566 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 2,363 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Ellington Credit by 14.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 71,562 shares of the real estate investment trust’s stock worth $411,000 after purchasing an additional 8,859 shares during the period. 20.40% of the stock is owned by institutional investors and hedge funds.

About Ellington Credit

Ellington Credit Income Fund (NYSE: EARN) is a closed-end management investment company that seeks to generate current income through a diversified portfolio of mortgage- and asset-backed securities. The fund primarily invests in residential mortgage-backed securities (RMBS) and asset-backed securities (ABS), with additional exposure to commercial mortgage-backed securities (CMBS) and related structured credit instruments. To enhance income and manage risk, the fund employs leverage and derivative strategies such as interest rate swaps and credit default swaps, allowing it to adjust duration and credit exposure dynamically.

The fund is externally managed and advised by Ellington Management Group, LLC, an established investment firm specializing in mortgage credit and structured products.