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

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

Separately, StockNews.com raised 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

Shares of EARN stock opened at $6.73 on Thursday. The business’s fifty day moving average price is $6.38 and its 200 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 firm has a market capitalization of $133.29 million, a PE ratio of 25.87 and a beta of 1.87.

Ellington Residential Mortgage REIT Announces Dividend

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

Institutional Investors Weigh In On Ellington Residential Mortgage REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in Ellington Residential Mortgage REIT during the fourth quarter worth about $3,610,000. Quadrature Capital Ltd acquired a new stake in Ellington Residential Mortgage REIT during the third quarter worth about $184,000. Acadian Asset Management LLC acquired a new stake in Ellington Residential Mortgage REIT during the third quarter worth about $392,000. Wolverine Asset Management LLC grew its stake in shares of Ellington Residential Mortgage REIT by 75.9% in the third quarter. Wolverine Asset Management LLC now owns 75,995 shares of the real estate investment trust’s stock valued at $472,000 after buying an additional 32,795 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Ellington Residential Mortgage REIT in the third quarter valued at about $138,000. 20.40% of the stock is currently owned by institutional investors and hedge funds.

About Ellington Residential Mortgage REIT

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.