Ellington Residential Mortgage REIT Shares (NYSE:EARN – Get a rating) earned an average recommendation of “Hold” from the six analysts who cover the company, reports MarketBeat.com. Three analysts have rated the stock with a hold rating and one has assigned the company a buy rating. The 12-month average price target among brokers who updated their coverage on the stock in the past year is $9.00.

Several equity research analysts have recently commented on the company. Piper Sandler cut its price target on Ellington Residential Mortgage REIT from $10.50 to $9.00 and set an “overweight” rating for the company in a Tuesday, June 28 report. StockNews.com upgraded Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a Monday, August 15, report. Finally, Credit Suisse Group cut its price target on Ellington Residential Mortgage REIT to $9.00 and gave the company an “na” rating in a Monday, May 16 report.

Institutional investors weigh in on Ellington Residential Mortgage REIT

Several hedge funds have recently bought and sold shares of EARN. Royal Bank of Canada increased its position in Ellington Residential Mortgage REIT by 14.6% in the first quarter. Royal Bank of Canada now owns 48,998 shares of the real estate investment trust worth $495,000 after buying an additional 6,255 shares in the last quarter. Invesco Ltd. increased its position in Ellington Residential Mortgage REIT by 77.5% in the first quarter. Invesco Ltd. now owns 34,198 shares of the real estate investment trust worth $345,000 after purchasing an additional 14,928 shares in the last quarter. Advisor Group Holdings Inc. increased its position in Ellington Residential Mortgage REIT by 13.5% in Q1. Advisor Group Holdings Inc. now owns 35,111 shares of the real estate investment trust worth $344,000 after purchasing an additional 4,182 shares in the last quarter. Northern Trust Corp increased its position in Ellington Residential Mortgage REIT by 22.1% in Q1. Northern Trust Corp now owns 33,613 shares of the real estate investment trust worth $339,000 after buying an additional 6,082 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Ellington Residential Mortgage REIT by 6.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 32,401 shares of the real estate investment trust worth $327,000 after purchasing an additional 1,965 shares in the last quarter. 21.77% of the shares are held by hedge funds and other institutional investors.

Ellington Residential Mortgage REIT Stock Down 3.8%

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NYSE EARN shares opened at $7.77 on Friday. Ellington Residential Mortgage REIT has a 12 month low of $6.40 and a 12 month high of $12.44. The company has a market capitalization of $101.62 million, a price-earnings ratio of -3.39 and a beta of 1.68. The company has a fifty-day simple moving average of $8.15 and a 200-day simple moving average of $8.62.

Ellington Residential Mortgage REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 26. Investors of record on Wednesday August 31 will receive a dividend of $0.08. This represents an annualized dividend of $0.96 and a yield of 12.36%. The ex-dividend date is Tuesday, August 30. Ellington Residential Mortgage REIT’s dividend payout ratio is currently -41.92%.

About Ellington Residential Mortgage REIT

(Get a rating)

Ellington Residential Mortgage REIT, a real estate investment trust, specializes in acquiring, investing and managing residential and real estate mortgage assets. It acquires and manages residential mortgage-backed securities (RMBS), including agency pools and agency-backed mortgage bonds (CMOs); and non-agency RMBS comprising non-agency CMOs, such as investment grade and non-investment grade securities.

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