Ellington Residential Mortgage REIT (NYSE:EARN - Get Free Report) declared a monthly dividend on Monday, April 8th, Zacks reports. Stockholders of record on Tuesday, April 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, May 28th. This represents a $0.96 annualized dividend and a dividend yield of 14.57%. The ex-dividend date of this dividend is Monday, April 29th.
Ellington Residential Mortgage REIT has decreased its dividend by an average of 5.0% per year over the last three years. Ellington Residential Mortgage REIT has a dividend payout ratio of 88.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Equities research analysts expect Ellington Residential Mortgage REIT to earn $1.02 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 94.1%.
Ellington Residential Mortgage REIT Trading Down 3.9 %
Shares of NYSE EARN traded down $0.27 during midday trading on Wednesday, reaching $6.59. The company had a trading volume of 278,095 shares, compared to its average volume of 260,375. The stock has a market cap of $130.61 million, a P/E ratio of 26.08 and a beta of 1.87. The business's 50-day simple moving average is $6.27 and its 200 day simple moving average is $6.08. Ellington Residential Mortgage REIT has a 1 year low of $5.09 and a 1 year high of $7.64.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded Ellington Residential Mortgage REIT from a "sell" rating to a "hold" rating in a research report on Thursday, March 7th.
Get Our Latest Report on Ellington Residential Mortgage REIT
Hedge Funds Weigh In On Ellington Residential Mortgage REIT
Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Ellington Residential Mortgage REIT by 33.5% in the 4th quarter. Vanguard Group Inc. now owns 789,914 shares of the real estate investment trust's stock worth $4,842,000 after acquiring an additional 198,193 shares during the period. Renaissance Technologies LLC increased its position in shares of Ellington Residential Mortgage REIT by 1.2% in the second quarter. Renaissance Technologies LLC now owns 440,000 shares of the real estate investment trust's stock valued at $3,172,000 after buying an additional 5,400 shares in the last quarter. BlackRock Inc. raised its stake in shares of Ellington Residential Mortgage REIT by 3.0% during the 2nd quarter. BlackRock Inc. now owns 231,721 shares of the real estate investment trust's stock worth $1,671,000 after buying an additional 6,826 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Ellington Residential Mortgage REIT by 15.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 177,256 shares of the real estate investment trust's stock worth $1,101,000 after buying an additional 23,219 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Ellington Residential Mortgage REIT by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 156,549 shares of the real estate investment trust's stock worth $1,073,000 after buying an additional 5,019 shares in the last quarter. 20.40% of the stock is owned by institutional investors and hedge funds.
About Ellington Residential Mortgage REIT
(
Get Free Report)
Ellington Residential Mortgage REIT, 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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