Ellington Credit (NYSE:EARN) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Ellington Credit (NYSE:EARN)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.63 and traded as low as $5.68. Ellington Credit shares last traded at $5.71, with a volume of 525,116 shares.

Ellington Credit Price Performance

The stock’s 50 day moving average price is $6.41 and its two-hundred day moving average price is $6.63. The firm has a market capitalization of $166.45 million, a price-to-earnings ratio of 5.09 and a beta of 1.96.

Ellington Credit (NYSE:EARN) last issued its earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. The company had revenue of $6.14 million for the quarter, compared to analyst estimates of $9.65 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. As a group, equities research analysts anticipate that Ellington Credit will post 1.17 EPS for the current fiscal year.

Ellington Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be paid a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 16.83%. The ex-dividend date is Monday, March 31st. Ellington Credit’s dividend payout ratio (DPR) is presently 320.00%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Quantbot Technologies LP bought a new position in Ellington Credit during the 4th quarter worth approximately $30,000. FMR LLC boosted its stake in Ellington Credit by 243.2% during the 3rd quarter. FMR LLC now owns 4,839 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 3,429 shares during the last quarter. State of Wyoming bought a new position in Ellington Credit during the 4th quarter worth approximately $49,000. Naviter Wealth LLC bought a new position in Ellington Credit during the 4th quarter worth approximately $72,000. Finally, McIlrath & Eck LLC bought a new position in Ellington Credit during the 4th quarter worth approximately $80,000. Institutional investors own 20.40% of the company’s stock.

Ellington Credit Company Profile

Ellington Credit Company, 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.