News headlines about Ellington Residential Mortgage REIT (NYSE:EARN) have trended somewhat positive recently, Accern Sentiment reports. The research firm rates the sentiment of media coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Ellington Residential Mortgage REIT earned a news sentiment score of 0.11 on Accern’s scale. Accern also assigned media stories about the real estate investment trust an impact score of 45.4708388246635 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Shares of Ellington Residential Mortgage REIT (NYSE EARN) opened at $11.43 on Friday. Ellington Residential Mortgage REIT has a 12 month low of $10.23 and a 12 month high of $15.74. The stock has a market capitalization of $151.76, a P/E ratio of 12.42 and a beta of 0.46.
Ellington Residential Mortgage REIT (NYSE:EARN) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Ellington Residential Mortgage REIT had a net margin of 35.79% and a return on equity of 12.07%. The business had revenue of $6.98 million during the quarter. equities analysts expect that Ellington Residential Mortgage REIT will post 1.47 earnings per share for the current year.
Ellington Residential Mortgage REIT announced that its board has initiated a stock repurchase 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 repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
Several research firms have recently issued reports on EARN. ValuEngine lowered Ellington Residential Mortgage REIT from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Zacks Investment Research upgraded Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Finally, TheStreet downgraded Ellington Residential Mortgage REIT from a “c” rating to a “d+” rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Ellington Residential Mortgage REIT has an average rating of “Hold” and a consensus price target of $15.00.
In related news, major shareholder Holdings L.P. Blackstone III bought 7,841 shares of Ellington Residential Mortgage REIT stock in a transaction dated Monday, March 12th. The shares were bought at an average cost of $11.43 per share, with a total value of $89,622.63. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have bought 36,698 shares of company stock worth $403,738. 2.70% of the stock is currently owned by insiders.
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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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