Ellington Residential Mortgage REIT (NYSE:EARN) was downgraded by Zacks Investment Research from a “buy” 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. “

Separately, Deutsche Bank AG cut their target price on Ellington Residential Mortgage REIT from $14.50 to $14.00 and set a “hold” rating on the stock in a research note on Wednesday, August 2nd.

Ellington Residential Mortgage REIT (EARN) opened at 14.46 on Thursday. The company has a market cap of $190.94 million, a PE ratio of 11.21 and a beta of 0.64. Ellington Residential Mortgage REIT has a 1-year low of $12.21 and a 1-year high of $15.74. The firm’s 50-day moving average is $14.58 and its 200 day moving average is $14.69.

Ellington Residential Mortgage REIT (NYSE:EARN) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Ellington Residential Mortgage REIT had a return on equity of 12.25% and a net margin of 44.93%. The company had revenue of $6.86 million for the quarter. Analysts predict that Ellington Residential Mortgage REIT will post $1.89 earnings per share for the current fiscal year.

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Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Ellington Residential Mortgage REIT by 639.1% during the first quarter. JPMorgan Chase & Co. now owns 7,539 shares of the real estate investment trust’s stock worth $111,000 after acquiring an additional 6,519 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of Ellington Residential Mortgage REIT during the second quarter worth about $119,000. New York State Common Retirement Fund purchased a new stake in shares of Ellington Residential Mortgage REIT during the second quarter worth about $130,000. BB&T Securities LLC grew its stake in shares of Ellington Residential Mortgage REIT by 1.6% during the first quarter. BB&T Securities LLC now owns 10,235 shares of the real estate investment trust’s stock worth $150,000 after acquiring an additional 160 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Ellington Residential Mortgage REIT during the second quarter worth about $155,000. Institutional investors and hedge funds own 62.11% of the company’s stock.

Ellington Residential Mortgage REIT Company Profile

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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