Ellington Residential Mortgage REIT (NYSE:EARN – Get a rating) was updated by stock analysts to StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

Other analysts have also recently published research reports on the stock. Piper Sandler lowered its price target on shares of Ellington Residential Mortgage REIT from $10.50 to $9.00 and set an “overweight” rating on the stock in a Tuesday, June 28 research report. Credit Suisse Group lowered its price target on shares of Ellington Residential Mortgage REIT to $9.00 and assigned the stock an “na” rating in a Monday, May 16 research report. Three investment analysts gave the stock a hold rating and one gave the stock a buy rating. According to MarketBeat, Ellington Residential Mortgage REIT currently has an average rating of “Hold” and an average target price of $10.25.

Ellington Residential Mortgage REIT Stock Down 0.2%

EARN fell $0.02 on Monday, hitting $8.73. The company’s stock had a trading volume of 129,527 shares, compared to an average volume of 134,127. The company’s 50-day simple moving average is $7.86 and its 200-day simple moving average is 8 $.77. 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 $114.45 million, a P/E ratio of -3.81 and a beta of 1.69.

Institutional entries and exits

Several institutional investors have recently changed their positions in EARN. Advisor Group Holdings Inc. increased its position in shares of Ellington Residential Mortgage REIT by 8.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 30,929 shares of the real estate investment trust worth $321,000 after purchasing an additional 2,502 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Ellington Residential Mortgage REIT by 19.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 13,258 shares of the real estate investment trust worth $138,000 after acquiring 2,130 additional shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Ellington Residential Mortgage REIT by 14.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 30,436 shares of the real estate investment trust worth $316,000 after purchasing an additional 3,740 shares during the period. Mariner Investment Group LLC purchased a new equity position in Ellington Residential Mortgage REIT during the fourth quarter, valued at approximately $342,000. Finally, Wolverine Asset Management LLC increased its stake in shares of Ellington Residential Mortgage REIT by 11.5% during the fourth quarter. Wolverine Asset Management LLC now owns 17,322 shares of the real estate investment trust valued at $179,000 after buying an additional 1,785 shares last quarter. Institutional investors hold 27.47% of the company’s shares.

Company Profile 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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