Uniplan Investment Counsel Inc. Buys 31,524 Shares of Ellington Financial Inc. $EFC

Key Points

• Uniplan Investment Counsel Inc. has increased its holdings in Ellington Financial Inc. by 17.2%, acquiring an additional 31,524 shares, bringing their total to 214,484 shares worth approximately $2.84 million.
• Ellington Financial recently announced a $0.13 monthly dividend with a yield of 11.3%, and reports a dividend payout ratio of 125.81%.
• Brokerages show a positive outlook for Ellington Financial, with a consensus rating of "Buy" and an average price target of $14.46.

Uniplan Investment Counsel Inc. grew its stake in shares of Ellington Financial Inc. (NYSE:EFC - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 214,484 shares of the financial services provider's stock after acquiring an additional 31,524 shares during the period. Uniplan Investment Counsel Inc. owned 0.23% of Ellington Financial worth $2,844,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EFC. Amundi purchased a new position in shares of Ellington Financial during the 1st quarter valued at $6,418,000. Northern Trust Corp grew its holdings in shares of Ellington Financial by 39.8% during the 4th quarter. Northern Trust Corp now owns 1,092,902 shares of the financial services provider's stock valued at $13,246,000 after acquiring an additional 311,406 shares in the last quarter. Nuveen LLC purchased a new position in shares of Ellington Financial during the 1st quarter valued at $3,941,000. Delphi Financial Group Inc. grew its holdings in shares of Ellington Financial by 44.3% during the 1st quarter. Delphi Financial Group Inc. now owns 560,057 shares of the financial services provider's stock valued at $7,426,000 after acquiring an additional 171,926 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Ellington Financial by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 5,899,538 shares of the financial services provider's stock valued at $78,228,000 after acquiring an additional 171,445 shares in the last quarter. 55.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. B. Riley lifted their price objective on shares of Ellington Financial from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Jones Trading raised shares of Ellington Financial from a "hold" rating to a "buy" rating and set a $14.25 price objective for the company in a research note on Wednesday, August 13th. UBS Group lifted their price objective on shares of Ellington Financial from $12.50 to $13.50 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. Zacks Research raised shares of Ellington Financial to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, Piper Sandler reduced their price objective on shares of Ellington Financial from $15.00 to $14.50 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $14.46.

Ellington Financial Stock Performance

Shares of NYSE:EFC traded down $0.08 on Friday, hitting $13.47. 542,685 shares of the company were exchanged, compared to its average volume of 1,085,712. The company's 50 day moving average price is $13.38 and its two-hundred day moving average price is $13.06. Ellington Financial Inc. has a one year low of $11.12 and a one year high of $14.40. The company has a debt-to-equity ratio of 10.96, a quick ratio of 46.78 and a current ratio of 46.78. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 10.86 and a beta of 1.00.

Ellington Financial (NYSE:EFC - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.07. The company had revenue of $92.54 million for the quarter, compared to the consensus estimate of $112.48 million. Ellington Financial had a net margin of 89.52% and a return on equity of 13.56%. Research analysts expect that Ellington Financial Inc. will post 1.38 earnings per share for the current year.

Ellington Financial Announces Dividend

The firm also recently declared a sep 25 dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.13 per share. The ex-dividend date is Tuesday, September 30th. This represents a yield of 1,140.0%. Ellington Financial's dividend payout ratio (DPR) is currently 125.81%.

About Ellington Financial

Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.