Ellington Residential Mortgage REIT (NYSE:EARN – Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 312,600 shares, a growth of 32.1% from the March 15th total of 236,600 shares. Based on an average daily volume of 261,400 shares, the days-to-cover ratio is currently 1.2 days.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th.
Read Our Latest Report on EARN
Ellington Residential Mortgage REIT Price Performance
Shares of EARN stock opened at $6.61 on Monday. The stock has a market cap of $131.01 million, a PE ratio of 25.42 and a beta of 1.87. The stock has a 50-day moving average of $6.31 and a 200-day moving average of $6.09. Ellington Residential Mortgage REIT has a one year low of $5.09 and a one year high of $7.64.
Ellington Residential Mortgage REIT Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, April 30th will be paid a $0.08 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.52%. Ellington Residential Mortgage REIT’s dividend payout ratio (DPR) is presently 369.23%.
Institutional Trading of Ellington Residential Mortgage REIT
A number of institutional investors and hedge funds have recently modified their holdings of EARN. Vanguard Group Inc. increased its stake in shares of Ellington Residential Mortgage REIT by 33.5% in the 4th quarter. Vanguard Group Inc. now owns 789,914 shares of the real estate investment trust’s stock valued at $4,842,000 after acquiring an additional 198,193 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in Ellington Residential Mortgage REIT during the 1st quarter worth approximately $751,000. Two Sigma Investments LP increased its stake in Ellington Residential Mortgage REIT by 648.0% during the 1st quarter. Two Sigma Investments LP now owns 81,353 shares of the real estate investment trust’s stock worth $594,000 after purchasing an additional 70,477 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Ellington Residential Mortgage REIT during the 3rd quarter worth approximately $392,000. Finally, International Assets Investment Management LLC bought a new stake in Ellington Residential Mortgage REIT during the 4th quarter worth approximately $3,610,000. 20.40% of the stock is owned by institutional investors.
Ellington Residential Mortgage REIT Company Profile
Ellington Residential Mortgage REIT, 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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