Two Sigma Investments LP lifted its position in Ellington Residential (NYSE:EARN) by 19.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 48,522 shares of the real estate investment trust’s stock after buying an additional 8,064 shares during the period. Two Sigma Investments LP owned about 0.36% of Ellington Residential worth $584,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of EARN. SG Americas Securities LLC purchased a new stake in Ellington Residential during the third quarter valued at approximately $109,000. California State Teachers Retirement System bought a new position in shares of Ellington Residential during the second quarter worth $216,000. Wells Fargo & Company MN boosted its position in shares of Ellington Residential by 385.3% during the fourth quarter. Wells Fargo & Company MN now owns 22,616 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 17,956 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Ellington Residential by 29.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 24,778 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 5,607 shares during the last quarter. Finally, Jefferies Group LLC boosted its position in shares of Ellington Residential by 128.3% during the fourth quarter. Jefferies Group LLC now owns 28,115 shares of the real estate investment trust’s stock worth $339,000 after acquiring an additional 15,802 shares during the last quarter. Hedge funds and other institutional investors own 68.40% of the company’s stock.
NYSE:EARN opened at $10.90 on Friday. The stock has a market capitalization of $145.41, a PE ratio of 5.96 and a beta of 0.39. Ellington Residential has a fifty-two week low of $10.23 and a fifty-two week high of $15.74.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, March 29th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 13.58%. The ex-dividend date is Wednesday, March 28th. Ellington Residential’s dividend payout ratio (DPR) is 82.22%.
Ellington Residential declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 8th that permits the company to buyback 1,200,000 outstanding shares. This buyback authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Several equities analysts have commented on the stock. ValuEngine lowered shares of Ellington Residential from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Zacks Investment Research raised shares of Ellington Residential from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Finally, TheStreet downgraded shares of Ellington Residential from a “c” rating to a “d+” rating in a research note on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $15.00.
In related news, major shareholder Holdings L.P. Blackstone III purchased 10,855 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was bought at an average price of $11.01 per share, with a total value of $119,513.55. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders purchased 50,676 shares of company stock valued at $563,367. 2.00% of the stock is owned by insiders.
Ellington Residential Company Profile
Ellington Residential Mortgage REIT, a real estate investment trust, specializes in acquiring, investing in, and managing 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 comprising non-agency CMOs, such as investment grade and non-investment grade.
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