Media headlines about Ellington Residential Mortgage REIT (NYSE:EARN) have trended somewhat positive on Thursday, Accern reports. Accern ranks the sentiment of news coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Ellington Residential Mortgage REIT earned a media sentiment score of 0.12 on Accern’s scale. Accern also gave news coverage about the real estate investment trust an impact score of 46.3527250181438 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
A number of brokerages have recently weighed in on EARN. Zacks Investment Research upgraded Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. TheStreet lowered Ellington Residential Mortgage REIT from a “c” rating to a “d+” rating in a research report on Friday, February 9th. Finally, ValuEngine lowered Ellington Residential Mortgage REIT from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $15.00.
Shares of Ellington Residential Mortgage REIT stock opened at $11.38 on Thursday. Ellington Residential Mortgage REIT has a 1 year low of $10.23 and a 1 year high of $15.74. The firm has a market capitalization of $152.08, a P/E ratio of 12.51 and a beta of 0.46.
Ellington Residential Mortgage REIT announced that its board has authorized a stock buyback plan on Thursday, February 8th that permits the company to buyback 1,200,000 outstanding shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, March 29th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.48 annualized dividend and a dividend yield of 13.01%. Ellington Residential Mortgage REIT’s dividend payout ratio is presently 162.64%.
In other news, major shareholder Holdings L.P. Blackstone III purchased 10,855 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The shares were bought at an average cost of $11.01 per share, for a total transaction of $119,513.55. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 50,676 shares of company stock worth $563,367 over the last 90 days. 2.70% of the stock is currently owned by corporate insiders.
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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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