Zacks Investment Research upgraded shares of Ellington Residential Mortgage REIT (NYSE:EARN) from a sell rating to a hold rating in a report published on Friday morning.

According to Zacks, “Ellington Residential Mortgage REIT is a real estate investment trust that specializes in acquiring, investing in and managing residential mortgage and real estate-related assets. Ellington Residential Mortgage REIT is based in United States. “

Other equities analysts also recently issued research reports about the company. Citigroup Inc. increased their price target on Ellington Residential Mortgage REIT from $12.00 to $13.00 and gave the company a neutral rating in a report on Friday, August 12th. TheStreet raised Ellington Residential Mortgage REIT from a sell rating to a hold rating in a research report on Wednesday, November 2nd.

Ellington Residential Mortgage REIT (NYSE:EARN) traded up 0.47% during trading on Friday, hitting $12.84. 5,285 shares of the stock traded hands. The stock has a market cap of $117.19 million, a PE ratio of 10.77 and a beta of 0.55. The company has a 50-day moving average price of $12.54 and a 200 day moving average price of $13.11. Ellington Residential Mortgage REIT has a one year low of $9.57 and a one year high of $14.43.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 25th. Stockholders of record on Friday, September 30th were given a $0.40 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $1.60 annualized dividend and a dividend yield of 12.52%. Ellington Residential Mortgage REIT’s dividend payout ratio is 134.45%.

Hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP boosted its position in shares of Ellington Residential Mortgage REIT by 25.3% in the second quarter. GSA Capital Partners LLP now owns 29,200 shares of the real estate investment trust’s stock valued at $381,000 after buying an additional 5,900 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Ellington Residential Mortgage REIT by 8.7% in the second quarter. Ameriprise Financial Inc. now owns 11,516 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 921 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Ellington Residential Mortgage REIT by 165.0% in the second quarter. JPMorgan Chase & Co. now owns 9,242 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 5,755 shares during the period. Vanguard Group Inc. boosted its position in shares of Ellington Residential Mortgage REIT by 0.8% in the second quarter. Vanguard Group Inc. now owns 389,968 shares of the real estate investment trust’s stock valued at $5,093,000 after buying an additional 3,028 shares during the period. Finally, BlackRock Fund Advisors boosted its position in shares of Ellington Residential Mortgage REIT by 45.2% in the second quarter. BlackRock Fund Advisors now owns 170,795 shares of the real estate investment trust’s stock valued at $2,231,000 after buying an additional 53,192 shares during the period. 58.73% of the stock is owned by hedge funds and other institutional investors.

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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