TheStreet downgraded shares of Ellington Residential Mortgage REIT (NYSE:EARN) from a c rating to a d+ rating in a research report released on Friday.

Several other research firms have also recently issued reports on EARN. BidaskClub cut Ellington Residential Mortgage REIT from a sell rating to a strong sell rating in a report on Friday, November 3rd. Zacks Investment Research cut Ellington Residential Mortgage REIT from a hold rating to a sell rating in a report on Tuesday, November 14th. Finally, ValuEngine cut Ellington Residential Mortgage REIT from a strong-buy rating to a buy rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $15.00.

Shares of Ellington Residential Mortgage REIT (NYSE EARN) opened at $10.76 on Friday. Ellington Residential Mortgage REIT has a twelve month low of $10.23 and a twelve month high of $15.74. The stock has a market capitalization of $142.61, a PE ratio of 11.82 and a beta of 0.45.

Ellington Residential Mortgage REIT (NYSE:EARN) last posted its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.03). Ellington Residential Mortgage REIT had a return on equity of 12.07% and a net margin of 35.79%. The firm had revenue of $6.98 million during the quarter. research analysts expect that Ellington Residential Mortgage REIT will post 1.51 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Stockholders of record on Friday, December 29th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 13.75%. The ex-dividend date of this dividend was Thursday, December 28th. Ellington Residential Mortgage REIT’s dividend payout ratio is currently 162.64%.

Ellington Residential Mortgage REIT declared that its Board of Directors has authorized a stock buyback program on Thursday, February 8th that authorizes the company to buyback 1,200,000 outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Ellington Residential Mortgage REIT during the 3rd quarter worth approximately $109,000. New York State Common Retirement Fund acquired a new position in shares of Ellington Residential Mortgage REIT during the 2nd quarter worth approximately $130,000. Cubist Systematic Strategies LLC acquired a new position in shares of Ellington Residential Mortgage REIT during the 2nd quarter worth approximately $155,000. Balyasny Asset Management LLC acquired a new position in shares of Ellington Residential Mortgage REIT during the 2nd quarter worth approximately $201,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in shares of Ellington Residential Mortgage REIT during the 2nd quarter worth approximately $209,000. Institutional investors and hedge funds own 65.44% of the company’s stock.

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Ellington Residential Mortgage REIT Company Profile

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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