Ellington Residential Mortgage REIT (NYSE:EARN) Given Market Perform Rating at JMP Securities

JMP Securities reissued their market perform rating on shares of Ellington Residential Mortgage REIT (NYSE:EARN) in a report issued on Thursday morning, Benzinga reports.

Separately, StockNews.com upgraded Ellington Residential Mortgage REIT from a sell rating to a hold rating in a report on Thursday, March 7th.

Ellington Residential Mortgage REIT Price Performance

EARN opened at $6.73 on Thursday. The business’s 50-day moving average price is $6.38 and its two-hundred day moving average price is $6.10. Ellington Residential Mortgage REIT has a 1 year low of $5.09 and a 1 year high of $7.64. The company has a market capitalization of $133.29 million, a price-to-earnings ratio of 25.87 and a beta of 1.87.

Ellington Residential Mortgage REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, April 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.28%. Ellington Residential Mortgage REIT’s payout ratio is 369.24%.

Institutional Investors Weigh In On Ellington Residential Mortgage REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG acquired a new position in Ellington Residential Mortgage REIT during the third quarter valued at approximately $26,000. Choreo LLC acquired a new position in Ellington Residential Mortgage REIT during the fourth quarter valued at approximately $86,000. Two Sigma Investments LP acquired a new position in Ellington Residential Mortgage REIT during the third quarter valued at approximately $138,000. Royal Bank of Canada raised its position in Ellington Residential Mortgage REIT by 144.6% during the fourth quarter. Royal Bank of Canada now owns 24,638 shares of the real estate investment trust’s stock valued at $151,000 after purchasing an additional 14,566 shares in the last quarter. Finally, Penserra Capital Management LLC raised its position in Ellington Residential Mortgage REIT by 28.9% during the first quarter. Penserra Capital Management LLC now owns 25,522 shares of the real estate investment trust’s stock valued at $257,000 after purchasing an additional 5,724 shares in the last quarter. 20.40% of the stock is currently owned by institutional investors and hedge funds.

Ellington Residential Mortgage REIT Company Profile

Ellington Residential Mortgage REIT, a real estate investment trust, acquires, invests in, and manages 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, such as non-agency CMOs, such as investment grade and non-investment grade.