Ellington Residential Mortgage REIT (NYSE:EARN) had its price target decreased by Deutsche Bank AG from $14.50 to $14.00 in a research report report published on Wednesday. Deutsche Bank AG currently has a hold rating on the real estate investment trust’s stock.

Separately, Zacks Investment Research raised Ellington Residential Mortgage REIT from a hold rating to a buy rating and set a $17.00 price target for the company in a research note on Monday, May 8th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Ellington Residential Mortgage REIT currently has a consensus rating of Hold and a consensus price target of $14.25.

Shares of Ellington Residential Mortgage REIT (EARN) opened at 14.53 on Wednesday. Ellington Residential Mortgage REIT has a 12-month low of $12.21 and a 12-month high of $15.74. The firm has a 50-day moving average price of $14.91 and a 200-day moving average price of $14.49. The firm has a market cap of $179.69 million, a P/E ratio of 11.26 and a beta of 0.63.

Ellington Residential Mortgage REIT (NYSE:EARN) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. Ellington Residential Mortgage REIT had a return on equity of 13.12% and a net margin of 44.93%. The company had revenue of $6.86 million during the quarter. On average, equities research analysts expect that Ellington Residential Mortgage REIT will post $1.89 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Friday, June 30th were paid a $0.40 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.60 annualized dividend and a dividend yield of 11.01%. Ellington Residential Mortgage REIT’s payout ratio is 121.21%.

Several hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of Ellington Residential Mortgage REIT by 639.1% in the first quarter. JPMorgan Chase & Co. now owns 7,539 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 6,519 shares during the period. Bessemer Group Inc. purchased a new stake in shares of Ellington Residential Mortgage REIT during the second quarter valued at $119,000. BB&T Securities LLC raised its stake in shares of Ellington Residential Mortgage REIT by 1.6% in the first quarter. BB&T Securities LLC now owns 10,235 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 160 shares during the period. Wells Fargo & Company MN raised its stake in shares of Ellington Residential Mortgage REIT by 894.5% in the first quarter. Wells Fargo & Company MN now owns 12,938 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 11,637 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Ellington Residential Mortgage REIT during the first quarter valued at $199,000. Institutional investors and hedge funds own 50.13% of the company’s stock.

Ellington Residential Mortgage REIT Company Profile

Ellington Residential Mortgage REIT is a real estate investment trust. The Company conducts its business through its subsidiaries, EARN OP GP LLC and Ellington Residential Mortgage LP (the Operating Partnership). It specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets.

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