Ellington Credit Company (NYSE:EARN - Get Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.63 and traded as low as $4.40. Ellington Credit shares last traded at $4.4450, with a volume of 469,738 shares trading hands.
Wall Street Analyst Weigh In
Separately, Piper Sandler reduced their price target on Ellington Credit from $5.25 to $5.00 and set an "overweight" rating for the company in a report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.50.
Read Our Latest Stock Analysis on Ellington Credit
Ellington Credit Stock Performance
The stock has a market cap of $167.04 million, a P/E ratio of -4.54 and a beta of 1.28. The firm has a 50 day moving average of $4.40 and a two-hundred day moving average of $4.63.
Ellington Credit (NYSE:EARN - Get Free Report) last released its earnings results on Wednesday, August 12th. The real estate investment trust reported $0.15 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.05). The company had revenue of $6.08 million for the quarter, compared to analysts' expectations of $10.57 million.
Ellington Credit Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, August 31st will be given a $0.08 dividend. This represents a c) dividend on an annualized basis and a yield of 21.6%. The ex-dividend date is Monday, August 31st. Ellington Credit's dividend payout ratio is -97.96%.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. McIlrath & Eck LLC raised its position in shares of Ellington Credit by 122.4% in the 1st quarter. McIlrath & Eck LLC now owns 10,969 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 6,038 shares during the period. Virtu Financial LLC acquired a new position in Ellington Credit during the fourth quarter valued at approximately $57,000. Quadrature Capital Ltd bought a new stake in Ellington Credit in the fourth quarter valued at approximately $75,000. Engineers Gate Manager LP acquired a new stake in Ellington Credit in the second quarter worth $83,000. Finally, World Investment Advisors acquired a new stake in Ellington Credit in the fourth quarter worth $115,000. Institutional investors own 20.40% of the company's stock.
Ellington Credit Company Profile
(
Get Free Report)
Ellington Credit Income Fund NYSE: EARN is a closed-end management investment company that seeks to generate current income through a diversified portfolio of mortgage- and asset-backed securities. The fund primarily invests in residential mortgage-backed securities (RMBS) and asset-backed securities (ABS), with additional exposure to commercial mortgage-backed securities (CMBS) and related structured credit instruments. To enhance income and manage risk, the fund employs leverage and derivative strategies such as interest rate swaps and credit default swaps, allowing it to adjust duration and credit exposure dynamically.
The fund is externally managed and advised by Ellington Management Group, LLC, an established investment firm specializing in mortgage credit and structured products.
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