Ellington Credit (NYSE:EARN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ellington Credit (NYSE:EARN) from a sell rating to a hold rating in a research note released on Sunday.

Separately, UBS Group cut their target price on Ellington Credit from $5.75 to $5.25 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $5.88.

Ellington Credit Stock Down 0.1%

Shares of NYSE EARN opened at $5.35 on Friday. The stock has a market capitalization of $200.76 million, a PE ratio of 29.69 and a beta of 1.33. The firm has a fifty day moving average of $5.52 and a 200-day moving average of $5.60. Ellington Credit has a 52-week low of $4.32 and a 52-week high of $6.99.

Ellington Credit (NYSE:EARN) last issued its earnings results on Tuesday, August 19th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm had revenue of $9.87 million during the quarter, compared to analysts’ expectations of $12.15 million. Ellington Credit had a return on equity of 15.90% and a net margin of 19.24%. Equities research analysts expect that Ellington Credit will post 1.17 EPS for the current fiscal year.

Ellington Credit Dividend Announcement

The firm also recently disclosed a oct 25 dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.08 per share. This represents a yield of 1,859.0%. The ex-dividend date is Friday, October 31st. Ellington Credit’s payout ratio is currently 533.33%.

Institutional Investors Weigh In On Ellington Credit

Several institutional investors have recently bought and sold shares of the business. Bogart Wealth LLC grew its stake in Ellington Credit by 62.5% during the second quarter. Bogart Wealth LLC now owns 5,200 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 2,000 shares during the period. Inspire Advisors LLC grew its stake in Ellington Credit by 13.7% during the second quarter. Inspire Advisors LLC now owns 19,566 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 2,363 shares during the period. Vident Advisory LLC grew its stake in Ellington Credit by 27.5% during the first quarter. Vident Advisory LLC now owns 17,383 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 3,754 shares during the period. Quarry LP purchased a new stake in Ellington Credit during the first quarter worth approximately $33,000. Finally, Envestnet Asset Management Inc. grew its stake in Ellington Credit by 14.1% during the second quarter. Envestnet Asset Management Inc. now owns 71,562 shares of the real estate investment trust’s stock worth $411,000 after buying an additional 8,859 shares during the period. 20.40% of the stock is currently owned by hedge funds and other institutional investors.

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.