112,441 Shares in Ellington Credit (NYSE:EARN) Bought by Castlekeep Investment Advisors LLC

Castlekeep Investment Advisors LLC acquired a new stake in Ellington Credit (NYSE:EARN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 112,441 shares of the real estate investment trust’s stock, valued at approximately $744,000. Castlekeep Investment Advisors LLC owned approximately 0.39% of Ellington Credit as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of EARN. First Trust Advisors LP increased its stake in shares of Ellington Credit by 2.2% in the 4th quarter. First Trust Advisors LP now owns 90,895 shares of the real estate investment trust’s stock valued at $602,000 after purchasing an additional 1,959 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Ellington Credit in the fourth quarter valued at approximately $30,000. Naviter Wealth LLC acquired a new position in shares of Ellington Credit during the 4th quarter worth approximately $72,000. Tower Research Capital LLC TRC lifted its position in shares of Ellington Credit by 835.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 16,236 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 14,501 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in Ellington Credit in the 4th quarter valued at $97,000. Institutional investors and hedge funds own 20.40% of the company’s stock.

Ellington Credit Trading Down 1.9 %

EARN opened at $5.30 on Tuesday. Ellington Credit has a twelve month low of $4.33 and a twelve month high of $7.26. The firm has a market capitalization of $198.87 million, a PE ratio of 4.73 and a beta of 1.74. The firm’s 50-day moving average price is $5.57 and its 200 day moving average price is $6.25.

Ellington Credit (NYSE:EARN) last issued its earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. The business had revenue of $6.14 million for the quarter, compared to analysts’ expectations of $9.65 million. As a group, analysts predict that Ellington Credit will post 1.17 earnings per share for the current fiscal year.

Ellington Credit Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, April 30th. This represents a $0.96 annualized dividend and a dividend yield of 18.13%. Ellington Credit’s dividend payout ratio is presently 320.00%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Piper Sandler dropped their target price on shares of Ellington Credit from $8.00 to $6.50 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. UBS Group cut their price objective on Ellington Credit from $6.50 to $5.25 and set a “neutral” rating for the company in a research note on Thursday, April 17th.

Insider Transactions at Ellington Credit

In other news, Portfolio Manager Gregory Morris Borenstein purchased 8,000 shares of Ellington Credit stock in a transaction dated Wednesday, April 9th. The shares were purchased at an average price of $4.73 per share, with a total value of $37,840.00. Following the transaction, the portfolio manager now owns 18,000 shares in the company, valued at $85,140. This represents a 80.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Ellington Credit 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.