Ellington Credit (NYSE:EARN - Get Free Report) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 951,200 shares, an increase of 47.2% from the January 15th total of 646,000 shares. Based on an average daily trading volume, of 537,800 shares, the short-interest ratio is currently 1.8 days.
NYSE:EARN opened at $6.54 on Friday. The company has a market capitalization of $190.69 million, a PE ratio of 5.83 and a beta of 1.85. Ellington Credit has a 52-week low of $5.57 and a 52-week high of $7.26. The stock has a fifty day simple moving average of $6.62 and a 200-day simple moving average of $6.74.
Ellington Credit (NYSE:EARN - Get Free Report) last announced its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. The firm had revenue of $4.75 million during the quarter, compared to the consensus estimate of $7.55 million. During the same quarter in the previous year, the company posted $0.21 EPS. As a group, equities analysts anticipate that Ellington Credit will post 1.17 earnings per share for the current year.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, February 28th will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 14.69%. The ex-dividend date is Friday, February 28th. Ellington Credit's dividend payout ratio (DPR) is 85.71%.
Separately, StockNews.com upgraded shares of Ellington Credit from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th.
Get Our Latest Research Report on EARN
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EARN. Clear Harbor Asset Management LLC purchased a new stake in shares of Ellington Credit during the 3rd quarter worth about $1,412,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Ellington Credit during the 3rd quarter worth about $170,000. Geode Capital Management LLC grew its holdings in shares of Ellington Credit by 21.6% during the 3rd quarter. Geode Capital Management LLC now owns 269,850 shares of the real estate investment trust's stock worth $1,885,000 after purchasing an additional 47,998 shares during the period. Barclays PLC purchased a new stake in shares of Ellington Credit during the 3rd quarter worth about $334,000. Finally, FMR LLC grew its holdings in shares of Ellington Credit by 243.2% during the 3rd quarter. FMR LLC now owns 4,839 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 3,429 shares during the period. Hedge funds and other institutional investors own 20.40% of the company's stock.
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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