Thrivent Financial for Lutherans Lowers Holdings in Ellington Residential Mortgage REIT (EARN)

Thrivent Financial for Lutherans lowered its position in shares of Ellington Residential Mortgage REIT (NYSE:EARN) by 10.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 105,813 shares of the real estate investment trust’s stock after selling 12,239 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ellington Residential Mortgage REIT were worth $1,160,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wells Fargo & Company MN lifted its holdings in shares of Ellington Residential Mortgage REIT by 385.3% in the 4th quarter. Wells Fargo & Company MN now owns 22,616 shares of the real estate investment trust’s stock valued at $272,000 after buying an additional 17,956 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Ellington Residential Mortgage REIT by 29.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 24,778 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 5,607 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Ellington Residential Mortgage REIT by 262.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 28,916 shares of the real estate investment trust’s stock valued at $348,000 after buying an additional 20,935 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Ellington Residential Mortgage REIT by 42.5% in the 4th quarter. Mackenzie Financial Corp now owns 65,577 shares of the real estate investment trust’s stock valued at $790,000 after buying an additional 19,544 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Ellington Residential Mortgage REIT by 7.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,075,400 shares of the real estate investment trust’s stock valued at $12,948,000 after buying an additional 78,400 shares during the period. 67.35% of the stock is owned by institutional investors.

Several equities analysts have recently issued reports on the company. ValuEngine cut Ellington Residential Mortgage REIT from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. TheStreet cut Ellington Residential Mortgage REIT from a “c” rating to a “d+” rating in a report on Friday, February 9th. Finally, Zacks Investment Research cut Ellington Residential Mortgage REIT from a “hold” rating to a “sell” rating in a report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. The company presently has a consensus rating of “Sell” and a consensus price target of $15.00.

In other Ellington Residential Mortgage REIT news, major shareholder Holdings L.P. Blackstone III purchased 19,444 shares of Ellington Residential Mortgage REIT stock in a transaction that occurred on Friday, June 1st. The stock was bought at an average price of $11.55 per share, with a total value of $224,578.20. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronald I. Simon purchased 2,500 shares of Ellington Residential Mortgage REIT stock in a transaction that occurred on Wednesday, May 9th. The stock was acquired at an average cost of $10.81 per share, with a total value of $27,025.00. Following the acquisition, the director now directly owns 12,494 shares in the company, valued at approximately $135,060.14. The disclosure for this purchase can be found here. Insiders purchased a total of 212,024 shares of company stock valued at $2,391,615 in the last ninety days. 2.00% of the stock is currently owned by insiders.

Shares of Ellington Residential Mortgage REIT opened at $11.47 on Tuesday, MarketBeat reports. The stock has a market capitalization of $144.79 million, a PE ratio of 6.37 and a beta of 0.39. Ellington Residential Mortgage REIT has a 52-week low of $10.23 and a 52-week high of $15.74.

Ellington Residential Mortgage REIT (NYSE:EARN) last issued its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.06). The company had revenue of $6.18 million during the quarter. Ellington Residential Mortgage REIT had a net margin of 17.60% and a return on equity of 10.93%. sell-side analysts expect that Ellington Residential Mortgage REIT will post 1.4 earnings per share for the current year.

Ellington Residential Mortgage REIT declared that its board has authorized a share repurchase program on Thursday, February 8th that allows the company to repurchase 1,200,000 shares. This repurchase authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Ellington Residential Mortgage REIT Company Profile

Ellington Residential Mortgage REIT, a real estate investment trust, specializes in acquiring, investing in, and managing 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 comprising non-agency CMOs, such as investment grade and non-investment grade.

Want to see what other hedge funds are holding EARN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ellington Residential Mortgage REIT (NYSE:EARN).

Institutional Ownership by Quarter for Ellington Residential Mortgage REIT (NYSE:EARN)

Receive News & Ratings for Ellington Residential Mortgage REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellington Residential Mortgage REIT and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply