Castlekeep Investment Advisors LLC Has $977,000 Stake in Ellington Credit Company (NYSE:EARN)

Castlekeep Investment Advisors LLC increased its stake in shares of Ellington Credit Company (NYSE:EARN - Free Report) by 1,107.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 180,672 shares of the real estate investment trust's stock after acquiring an additional 165,714 shares during the period. Castlekeep Investment Advisors LLC owned about 0.48% of Ellington Credit worth $977,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of EARN. Quantbot Technologies LP bought a new position in shares of Ellington Credit in the 4th quarter valued at about $30,000. State of Wyoming acquired a new stake in Ellington Credit in the 4th quarter valued at about $49,000. McIlrath & Eck LLC bought a new position in Ellington Credit during the fourth quarter worth about $80,000. Vident Advisory LLC bought a new position in Ellington Credit during the fourth quarter worth about $90,000. Finally, Balyasny Asset Management L.P. acquired a new position in Ellington Credit during the fourth quarter worth approximately $97,000. 20.40% of the stock is owned by institutional investors and hedge funds.

Ellington Credit Stock Performance

EARN traded down $0.01 on Monday, reaching $5.95. The company had a trading volume of 159,004 shares, compared to its average volume of 606,534. The stock has a market cap of $223.29 million, a P/E ratio of -45.73 and a beta of 1.29. Ellington Credit Company has a fifty-two week low of $4.32 and a fifty-two week high of $7.20. The company's fifty day moving average is $5.66 and its 200 day moving average is $5.91.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.01). Ellington Credit had a positive return on equity of 17.67% and a negative net margin of 21.82%. The firm had revenue of $9.25 million for the quarter, compared to the consensus estimate of $10.35 million. During the same quarter in the prior year, the firm earned $0.27 EPS. On average, sell-side analysts expect that Ellington Credit Company will post 1.17 EPS for the current year.

Ellington Credit Dividend Announcement

The company also recently declared a jul 25 dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, July 31st will be paid a $0.08 dividend. The ex-dividend date is Thursday, July 31st. This represents a yield of 16.3%. Ellington Credit's dividend payout ratio (DPR) is presently -738.46%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EARN. Wall Street Zen cut Ellington Credit from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Piper Sandler dropped their price target on Ellington Credit from $8.00 to $6.50 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, UBS Group lifted their price objective on shares of Ellington Credit from $5.25 to $5.50 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th.

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.