Press coverage about Ellington Residential (NYSE:EARN) has been trending somewhat positive on Friday, according to Accern Sentiment Analysis. The research group scores the sentiment of press coverage by analyzing 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 closest to one being the most favorable. Ellington Residential earned a news impact score of 0.04 on Accern’s scale. Accern also assigned news coverage about the real estate investment trust an impact score of 45.1562006573846 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Several brokerages have commented on EARN. TheStreet downgraded shares of Ellington Residential from a “c” rating to a “d+” rating in a research note on Friday, February 9th. Zacks Investment Research downgraded shares of Ellington Residential from a “hold” rating to a “sell” rating in a research note on Wednesday, February 14th. Finally, ValuEngine downgraded shares of Ellington Residential from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $15.00.
Shares of NYSE:EARN opened at $11.09 on Friday. Ellington Residential has a 1 year low of $10.23 and a 1 year high of $15.74. The stock has a market cap of $148.08, a PE ratio of 6.16 and a beta of 0.39.
Ellington Residential announced that its board has initiated 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. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, March 29th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 13.35%. The ex-dividend date of this dividend is Wednesday, March 28th. Ellington Residential’s payout ratio is 82.22%.
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 acquired at an average cost of $11.01 per share, with a total value of $119,513.55. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have purchased 50,676 shares of company stock worth $563,367. Corporate insiders own 2.70% of the company’s stock.
About Ellington Residential
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.
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