Short Interest in Ellington Residential Mortgage REIT (EARN) Increases By 38.8%

Ellington Residential Mortgage REIT (NYSE:EARN) was the recipient of a significant growth in short interest during the month of December. As of December 29th, there was short interest totalling 941,600 shares, a growth of 38.8% from the December 15th total of 678,502 shares. Based on an average daily volume of 151,716 shares, the short-interest ratio is presently 6.2 days. Approximately 9.0% of the company’s shares are short sold.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of Ellington Residential Mortgage REIT in the third quarter valued at $109,000. New York State Common Retirement Fund purchased a new position in shares of Ellington Residential Mortgage REIT in the second quarter valued at $130,000. Cubist Systematic Strategies LLC purchased a new position in shares of Ellington Residential Mortgage REIT in the second quarter valued at $155,000. Menta Capital LLC purchased a new position in shares of Ellington Residential Mortgage REIT in the second quarter valued at $170,000. Finally, Balyasny Asset Management LLC purchased a new position in shares of Ellington Residential Mortgage REIT in the second quarter valued at $201,000. Institutional investors own 66.10% of the company’s stock.

Ellington Residential Mortgage REIT (NYSE:EARN) traded up $0.24 on Friday, reaching $10.69. 128,245 shares of the company’s stock traded hands, compared to its average volume of 137,793. Ellington Residential Mortgage REIT has a 12 month low of $10.23 and a 12 month high of $15.74. The stock has a market capitalization of $142.56, a P/E ratio of 9.90 and a beta of 0.46.

Ellington Residential Mortgage REIT (NYSE:EARN) last released its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Ellington Residential Mortgage REIT had a return on equity of 12.02% and a net margin of 40.44%. The business had revenue of $6.98 million for the quarter. sell-side analysts anticipate that Ellington Residential Mortgage REIT will post 1.51 EPS for the current fiscal year.

Ellington Residential Mortgage REIT announced that its board has initiated a stock repurchase program on Thursday, February 8th that allows the company to buyback 1,200,000 shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Friday, December 29th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.48 annualized dividend and a yield of 13.84%. Ellington Residential Mortgage REIT’s dividend payout ratio is currently 137.04%.

Several brokerages recently commented on EARN. BidaskClub lowered shares of Ellington Residential Mortgage REIT from a “sell” rating to a “strong sell” rating in a research report on Friday, November 3rd. Zacks Investment Research downgraded shares of Ellington Residential Mortgage REIT from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Finally, ValuEngine downgraded shares of Ellington Residential Mortgage REIT from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd.

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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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