Schonfeld Strategic Advisors LLC acquired a new stake in Ellington Credit (NYSE:EARN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 55,736 shares of the real estate investment trust's stock, valued at approximately $369,000. Schonfeld Strategic Advisors LLC owned about 0.19% of Ellington Credit as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in Ellington Credit during the 4th quarter valued at about $30,000. Naviter Wealth LLC purchased a new position in Ellington Credit in the 4th quarter worth approximately $72,000. Inspire Advisors LLC purchased a new stake in shares of Ellington Credit in the fourth quarter valued at about $98,000. Plancorp LLC purchased a new stake in Ellington Credit in the 4th quarter valued at about $100,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Ellington Credit by 835.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 16,236 shares of the real estate investment trust's stock valued at $107,000 after buying an additional 14,501 shares during the period. Institutional investors own 20.40% of the company's stock.
Insider Buying and Selling at Ellington Credit
In other Ellington Credit news, Portfolio Manager Gregory Morris Borenstein purchased 8,000 shares of the company's stock in a transaction on Wednesday, April 9th. The shares were purchased at an average cost of $4.73 per share, for a total transaction of $37,840.00. Following the completion of the transaction, the portfolio manager now owns 18,000 shares in the company, valued at $85,140. The trade was a 80.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of brokerages have recently commented on EARN. Piper Sandler lowered their price objective on Ellington Credit from $8.00 to $6.50 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. StockNews.com downgraded Ellington Credit from a "hold" rating to a "sell" rating in a report on Thursday, May 8th. Finally, UBS Group reduced their target price on Ellington Credit from $6.50 to $5.25 and set a "neutral" rating on the stock in a research note on Thursday, April 17th.
Check Out Our Latest Stock Report on EARN
Ellington Credit Stock Down 0.5%
Shares of EARN traded down $0.03 during trading on Wednesday, reaching $5.57. The company's stock had a trading volume of 269,748 shares, compared to its average volume of 527,560. Ellington Credit has a twelve month low of $4.33 and a twelve month high of $7.26. The company has a fifty day moving average of $5.45 and a two-hundred day moving average of $6.19. The company has a market cap of $209.20 million, a price-to-earnings ratio of 4.97 and a beta of 1.31.
Ellington Credit (NYSE:EARN - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01. The business had revenue of $6.14 million during the quarter, compared to analyst estimates of $9.65 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. As a group, equities analysts forecast that Ellington Credit will post 1.17 EPS for the current fiscal year.
Ellington Credit Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 17.24%. The ex-dividend date of this dividend is Friday, May 30th. Ellington Credit's dividend payout ratio (DPR) is 320.00%.
Ellington Credit Profile
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Free Report)
Ellington Credit Company, a real estate investment trust, acquires, invests in, and manages 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, such as non-agency CMOs, such as investment grade and non-investment grade.
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