108,503 Shares in Ellington Credit (NYSE:EARN) Acquired by 683 Capital Management LLC

683 Capital Management LLC acquired a new position in shares of Ellington Credit (NYSE:EARN - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 108,503 shares of the real estate investment trust's stock, valued at approximately $718,000. 683 Capital Management LLC owned 0.37% of Ellington Credit at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Jane Street Group LLC boosted its position in Ellington Credit by 177.5% during the 4th quarter. Jane Street Group LLC now owns 73,714 shares of the real estate investment trust's stock worth $488,000 after purchasing an additional 47,151 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in Ellington Credit during the 4th quarter valued at approximately $369,000. Lido Advisors LLC bought a new position in Ellington Credit in the 4th quarter worth about $269,000. Northern Trust Corp grew its stake in shares of Ellington Credit by 81.1% in the fourth quarter. Northern Trust Corp now owns 109,569 shares of the real estate investment trust's stock worth $725,000 after purchasing an additional 49,062 shares in the last quarter. Finally, Susquehanna International Group LLP raised its position in shares of Ellington Credit by 570.4% during the 4th quarter. Susquehanna International Group LLP now owns 481,669 shares of the real estate investment trust's stock worth $3,189,000 after buying an additional 409,817 shares in the last quarter. 20.40% of the stock is owned by institutional investors and hedge funds.

Ellington Credit Price Performance

Shares of EARN stock traded up $0.11 on Wednesday, hitting $5.43. The company's stock had a trading volume of 128,214 shares, compared to its average volume of 523,719. The stock has a market capitalization of $203.76 million, a price-to-earnings ratio of 4.84 and a beta of 1.31. Ellington Credit has a fifty-two week low of $4.33 and a fifty-two week high of $7.26. The firm's fifty day moving average price is $5.54 and its 200-day moving average price is $6.25.

Ellington Credit (NYSE:EARN - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01. The business had revenue of $6.14 million during the quarter, compared to the consensus estimate of $9.65 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. Analysts predict 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 Tuesday, May 27th. Investors of record on Wednesday, April 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.96 annualized dividend and a yield of 17.70%. Ellington Credit's dividend payout ratio (DPR) is currently 320.00%.

Insider Transactions at Ellington Credit

In other news, Portfolio Manager Gregory Morris Borenstein purchased 8,000 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average cost of $4.73 per share, with a total value of $37,840.00. Following the acquisition, the portfolio manager now directly owns 18,000 shares of the company's stock, valued at approximately $85,140. This trade represents a 80.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EARN has been the subject of several research reports. Piper Sandler decreased their target price on Ellington Credit from $8.00 to $6.50 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. UBS Group lowered their price target on Ellington Credit from $6.50 to $5.25 and set a "neutral" rating on the stock in a report on Thursday, April 17th.

Ellington Credit Company Profile

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.