Ellington Credit Company (NYSE:EARN - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.92 and traded as low as $5.90. Ellington Credit shares last traded at $5.95, with a volume of 196,577 shares.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Ellington Credit from $5.25 to $5.50 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Wall Street Zen cut shares of Ellington Credit from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Finally, Piper Sandler lowered their target price on shares of Ellington Credit from $8.00 to $6.50 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th.
Check Out Our Latest Analysis on Ellington Credit
Ellington Credit Stock Down 1.4%
The company's fifty day moving average is $5.66 and its two-hundred day moving average is $5.91. The firm has a market capitalization of $220.28 million, a price-to-earnings ratio of -45.11 and a beta of 1.29.
Ellington Credit (NYSE:EARN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.01). The company had revenue of $9.25 million for the quarter, compared to analyst estimates of $10.35 million. Ellington Credit had a positive return on equity of 17.67% and a negative net margin of 21.82%. During the same quarter in the previous year, the business earned $0.27 earnings per share. On average, equities research analysts expect that Ellington Credit Company will post 1.17 EPS for the current year.
Ellington Credit Dividend Announcement
The business also recently declared a jul 25 dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, July 31st will be issued a dividend of $0.08 per share. This represents a dividend yield of 16.3%. The ex-dividend date is Thursday, July 31st. Ellington Credit's dividend payout ratio (DPR) is presently -738.46%.
Institutional Investors Weigh In On Ellington Credit
A number of institutional investors have recently modified their holdings of the company. Clear Harbor Asset Management LLC grew its stake in shares of Ellington Credit by 21.6% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 350,500 shares of the real estate investment trust's stock worth $2,015,000 after acquiring an additional 62,200 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Ellington Credit by 56.6% in the first quarter. Goldman Sachs Group Inc. now owns 126,864 shares of the real estate investment trust's stock worth $686,000 after buying an additional 45,845 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Ellington Credit by 415.4% in the first quarter. Jane Street Group LLC now owns 379,906 shares of the real estate investment trust's stock worth $2,055,000 after buying an additional 306,192 shares in the last quarter. PharVision Advisers LLC purchased a new stake in Ellington Credit in the first quarter valued at approximately $93,000. Finally, Millennium Management LLC raised its stake in Ellington Credit by 485.8% in the first quarter. Millennium Management LLC now owns 932,326 shares of the real estate investment trust's stock valued at $5,044,000 after purchasing an additional 773,169 shares in the last quarter. 20.40% of the stock is owned by institutional investors.
Ellington Credit Company Profile
(
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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.
Further Reading
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