Thrivent Financial For Lutherans bought a new stake in shares of Ellington Residential Mortgage REIT (NYSE:EARN) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 28,940 shares of the real estate investment trust’s stock, valued at approximately $424,000. Thrivent Financial For Lutherans owned about 0.23% of Ellington Residential Mortgage REIT as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in EARN. JPMorgan Chase & Co. lifted its holdings in Ellington Residential Mortgage REIT by 639.1% during the first quarter. JPMorgan Chase & Co. now owns 7,539 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 6,519 shares during the period. Bessemer Group Inc. purchased a new position in Ellington Residential Mortgage REIT in the 2nd quarter worth $119,000. Wells Fargo & Company MN raised its stake in Ellington Residential Mortgage REIT by 894.5% in the 1st quarter. Wells Fargo & Company MN now owns 12,938 shares of the real estate investment trust’s stock worth $190,000 after acquiring an additional 11,637 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Ellington Residential Mortgage REIT in the 1st quarter worth $199,000. Finally, Prudential Financial Inc. purchased a new position in Ellington Residential Mortgage REIT in the 2nd quarter worth $202,000. 61.98% of the stock is currently owned by institutional investors.
Shares of Ellington Residential Mortgage REIT (NYSE:EARN) opened at 13.72 on Friday. The stock’s 50 day moving average price is $14.49 and its 200-day moving average price is $14.69. Ellington Residential Mortgage REIT has a 52-week low of $12.26 and a 52-week high of $15.74. The firm has a market capitalization of $181.17 million, a PE ratio of 10.64 and a beta of 0.64.
Ellington Residential Mortgage REIT (NYSE:EARN) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $6.86 million for the quarter. Ellington Residential Mortgage REIT had a net margin of 44.93% and a return on equity of 12.25%. Equities research analysts anticipate that Ellington Residential Mortgage REIT will post $1.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Friday, September 29th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 11.66%. The ex-dividend date of this dividend was Thursday, September 28th. Ellington Residential Mortgage REIT’s payout ratio is presently 121.21%.
A number of equities analysts recently issued reports on EARN shares. Zacks Investment Research upgraded Ellington Residential Mortgage REIT from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday, September 8th. Deutsche Bank AG cut their price target on Ellington Residential Mortgage REIT from $14.50 to $14.00 and set a “hold” rating on the stock in a research report on Wednesday, August 2nd.
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About Ellington Residential Mortgage REIT
Ellington Residential Mortgage REIT is a real estate investment trust. The Company conducts its business through its subsidiaries, EARN OP GP LLC and Ellington Residential Mortgage LP (the Operating Partnership). It specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets.
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