$0.39 EPS Expected for Ellington Residential (EARN) This Quarter

Equities analysts expect Ellington Residential (NYSE:EARN) to report earnings of $0.39 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Ellington Residential’s earnings. Ellington Residential reported earnings of $0.53 per share during the same quarter last year, which indicates a negative year over year growth rate of 26.4%. The firm is scheduled to report its next quarterly earnings results on Tuesday, May 1st.

According to Zacks, analysts expect that Ellington Residential will report full-year earnings of $1.47 per share for the current fiscal year. For the next year, analysts expect that the firm will post earnings of $1.08 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Ellington Residential.

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Ellington Residential (NYSE:EARN) last announced its earnings results on Thursday, February 8th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.03). Ellington Residential had a return on equity of 11.73% and a net margin of 35.79%. The company had revenue of $6.98 million for the quarter.



Several research firms recently commented on EARN. TheStreet downgraded shares of Ellington Residential from a “c” rating to a “d+” rating in a research report on Friday, February 9th. ValuEngine lowered shares of Ellington Residential from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research upgraded shares of Ellington Residential from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.00.

In other news, major shareholder Holdings L.P. Blackstone III acquired 13,978 shares of Ellington Residential stock in a transaction on Friday, March 16th. The shares were acquired at an average price of $11.42 per share, with a total value of $159,628.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders purchased 50,676 shares of company stock worth $563,367. 2.00% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC grew its position in Ellington Residential by 7.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,075,400 shares of the real estate investment trust’s stock valued at $12,948,000 after acquiring an additional 78,400 shares during the last quarter. Wolverine Asset Management LLC grew its position in Ellington Residential by 1,419.6% in the 4th quarter. Wolverine Asset Management LLC now owns 488,124 shares of the real estate investment trust’s stock valued at $5,877,000 after acquiring an additional 456,003 shares during the last quarter. JPMorgan Chase & Co. grew its position in Ellington Residential by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 342,740 shares of the real estate investment trust’s stock valued at $4,953,000 after acquiring an additional 22,782 shares during the last quarter. Deutsche Bank AG grew its position in Ellington Residential by 91.5% in the 4th quarter. Deutsche Bank AG now owns 113,494 shares of the real estate investment trust’s stock valued at $1,365,000 after acquiring an additional 54,241 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Ellington Residential by 17.2% in the 4th quarter. Millennium Management LLC now owns 93,916 shares of the real estate investment trust’s stock worth $1,131,000 after buying an additional 13,807 shares during the period. 68.40% of the stock is currently owned by institutional investors.

Shares of EARN stock traded down $0.06 during trading hours on Friday, hitting $10.90. 61,699 shares of the company were exchanged, compared to its average volume of 121,243. Ellington Residential has a 52 week low of $10.23 and a 52 week high of $15.74. The company has a market capitalization of $145.81, a price-to-earnings ratio of 6.04 and a beta of 0.39.

Ellington Residential declared that its board has authorized a share buyback plan on Thursday, February 8th that authorizes the company to buyback 1,200,000 outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

The business also recently declared 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. The ex-dividend date is Wednesday, March 28th. This represents a $1.48 annualized dividend and a dividend yield of 13.58%. Ellington Residential’s payout ratio is presently 82.22%.

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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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