Gables Capital Management Inc. lowered its position in shares of Ellington Credit Company (NYSE:EARN – Free Report) by 36.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,750 shares of the real estate investment trust’s stock after selling 25,900 shares during the quarter. Gables Capital Management Inc.’s holdings in Ellington Credit were worth $263,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bogart Wealth LLC boosted its position in shares of 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 valued at $30,000 after purchasing an additional 2,000 shares during the period. Clear Harbor Asset Management LLC boosted its position in shares of Ellington Credit by 21.6% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 350,500 shares of the real estate investment trust’s stock valued at $2,015,000 after purchasing an additional 62,200 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Ellington Credit by 56.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 126,864 shares of the real estate investment trust’s stock valued at $686,000 after purchasing an additional 45,845 shares during the period. Jane Street Group LLC boosted its position in shares of 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 purchasing an additional 306,192 shares during the period. Finally, PharVision Advisers LLC acquired a new position in shares of Ellington Credit in the 1st quarter valued at $93,000. Institutional investors and hedge funds own 20.40% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently weighed in on EARN shares. UBS Group decreased their price target on Ellington Credit from $5.75 to $5.25 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Wall Street Zen lowered Ellington Credit from a “hold” rating to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.88.
Ellington Credit Trading Up 0.8%
Shares of Ellington Credit stock opened at $5.24 on Wednesday. The stock has a 50-day moving average price of $5.55 and a 200 day moving average price of $5.57. The company has a market cap of $196.81 million, a P/E ratio of 29.11 and a beta of 1.33. Ellington Credit Company has a 1 year low of $4.32 and a 1 year high of $7.11.
Ellington Credit (NYSE:EARN – Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $9.87 million during the quarter, compared to analysts’ expectations of $12.15 million. Ellington Credit had a return on equity of 15.90% and a net margin of 19.24%. On average, equities analysts forecast that Ellington Credit Company will post 1.17 earnings per share for the current fiscal year.
Ellington Credit Dividend Announcement
The firm also recently disclosed a oct 25 dividend, which will be paid on Friday, November 28th. Investors of record on Friday, October 31st will be paid a $0.08 dividend. This represents a yield of 1,859.0%. The ex-dividend date of this dividend is Friday, October 31st. Ellington Credit’s dividend payout ratio is currently 533.33%.
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.
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