Ellington Residential Mortgage REIT (NYSE:EARN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.

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 have also recently issued research reports about the stock. TheStreet upgraded shares of Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a research note on Wednesday, November 2nd. Citigroup Inc. upped their price target on shares of Ellington Residential Mortgage REIT from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, August 12th.

Ellington Residential Mortgage REIT (NYSE:EARN) traded down 2.02% during mid-day trading on Thursday, reaching $13.10. 36,893 shares of the company were exchanged. The stock has a 50-day moving average price of $12.57 and a 200 day moving average price of $13.14. The company has a market capitalization of $119.56 million, a PE ratio of 10.99 and a beta of 0.55. Ellington Residential Mortgage REIT has a one year low of $9.57 and a one year high of $14.43.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 25th. Shareholders of record on Friday, September 30th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 12.21%. The ex-dividend date of this dividend was Wednesday, September 28th. Ellington Residential Mortgage REIT’s dividend payout ratio is currently 134.45%.

A number of institutional investors have recently bought and sold shares of the stock. Northern Trust Corp raised its stake in Ellington Residential Mortgage REIT by 3.2% in the third quarter. Northern Trust Corp now owns 28,928 shares of the real estate investment trust’s stock valued at $376,000 after buying an additional 885 shares during the last quarter. Ameriprise Financial Inc. raised its stake in 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 last quarter. Vanguard Group Inc. raised its stake in 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 last quarter. ClariVest Asset Management LLC raised its stake in Ellington Residential Mortgage REIT by 4.0% in the third quarter. ClariVest Asset Management LLC now owns 101,116 shares of the real estate investment trust’s stock valued at $1,312,000 after buying an additional 3,900 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in 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 last quarter. Institutional investors and hedge funds own 58.73% of the company’s stock.

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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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