Jane Street Group LLC lifted its holdings in shares of Ellington Credit (NYSE:EARN - Free Report) by 177.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,714 shares of the real estate investment trust's stock after buying an additional 47,151 shares during the period. Jane Street Group LLC owned about 0.25% of Ellington Credit worth $488,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the business. First Trust Advisors LP raised its position in Ellington Credit by 2.2% in the fourth quarter. First Trust Advisors LP now owns 90,895 shares of the real estate investment trust's stock worth $602,000 after acquiring an additional 1,959 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Ellington Credit during the 4th quarter worth $30,000. Naviter Wealth LLC acquired a new position in shares of Ellington Credit during the 4th quarter worth $72,000. Tower Research Capital LLC TRC grew its stake in shares of Ellington Credit by 835.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 16,236 shares of the real estate investment trust's stock worth $107,000 after purchasing an additional 14,501 shares during the period. Finally, Inspire Advisors LLC acquired a new position in shares of Ellington Credit during the 4th quarter worth $98,000. 20.40% of the stock is owned by institutional investors and hedge funds.
Ellington Credit Price Performance
NYSE:EARN traded down $0.12 during trading hours on Friday, reaching $5.61. 336,710 shares of the company traded hands, compared to its average volume of 532,828. Ellington Credit has a 1-year low of $4.33 and a 1-year high of $7.20. The stock has a market cap of $210.78 million, a P/E ratio of 5.01 and a beta of 1.31. The firm's 50-day moving average is $5.36 and its 200-day moving average is $6.11.
Ellington Credit (NYSE:EARN - Get Free Report) last posted 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). Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. The company had revenue of $9.25 million for the quarter, compared to analyst estimates of $10.35 million. During the same period in the previous year, the business earned $0.27 EPS. As a group, research analysts predict that Ellington Credit will post 1.17 earnings per share for the current year.
Ellington Credit Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, May 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 17.11%. Ellington Credit's dividend payout ratio (DPR) is presently -738.46%.
Insider Activity
In other Ellington Credit news, Portfolio Manager Gregory Morris Borenstein purchased 8,000 shares of Ellington Credit stock in a transaction on Wednesday, April 9th. The shares were bought at an average price of $4.73 per share, with a total value of $37,840.00. Following the purchase, the portfolio manager now directly owns 18,000 shares in the company, valued at $85,140. This trade represents a 80.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on EARN. Piper Sandler dropped their price target 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. UBS Group dropped their price target on Ellington Credit from $6.50 to $5.25 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Wall Street Zen cut Ellington Credit from a "hold" rating to a "sell" rating in a research report on Friday, May 16th.
View Our Latest Analysis on Ellington Credit
About Ellington Credit
(
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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