Equities research analysts expect Ellington Residential Mortgage REIT (NYSE:EARN) to announce $0.37 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have made estimates for Ellington Residential Mortgage REIT’s earnings. Ellington Residential Mortgage REIT posted earnings per share of $0.47 in the same quarter last year, which suggests a negative year-over-year growth rate of 21.3%. The company is expected to report its next quarterly earnings results on Tuesday, August 7th.

According to Zacks, analysts expect that Ellington Residential Mortgage REIT will report full year earnings of $1.40 per share for the current financial year. For the next financial year, analysts forecast that the business will report earnings of $1.10 per share. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Ellington Residential Mortgage REIT.

Ellington Residential Mortgage REIT (NYSE:EARN) last issued its quarterly earnings results on Thursday, May 3rd. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.06). The business had revenue of $6.18 million during the quarter. Ellington Residential Mortgage REIT had a net margin of 17.60% and a return on equity of 10.93%.

Separately, ValuEngine downgraded Ellington Residential Mortgage REIT from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 6th. Three analysts have rated the stock with a sell rating and one has given a hold rating to the company. The stock presently has a consensus rating of “Sell” and an average target price of $15.00.

Shares of NYSE:EARN traded down $0.02 during midday trading on Monday, hitting $11.02. The company’s stock had a trading volume of 63,400 shares, compared to its average volume of 124,437. The company has a market cap of $140.34 million, a P/E ratio of 6.09 and a beta of 0.36. Ellington Residential Mortgage REIT has a fifty-two week low of $10.23 and a fifty-two week high of $14.97.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 25th. Stockholders of record on Friday, June 29th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 13.43%. The ex-dividend date of this dividend is Thursday, June 28th. Ellington Residential Mortgage REIT’s dividend payout ratio is currently 82.22%.

In related news, CEO Laurence Penn bought 15,000 shares of Ellington Residential Mortgage REIT stock in a transaction that occurred on Wednesday, May 9th. The stock was acquired at an average price of $10.88 per share, for a total transaction of $163,200.00. Following the completion of the purchase, the chief executive officer now owns 35,710 shares in the company, valued at $388,524.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holdings L.P. Blackstone III bought 19,475 shares of Ellington Residential Mortgage REIT stock in a transaction that occurred on Friday, May 11th. The stock was bought at an average price of $11.11 per share, with a total value of $216,367.25. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 179,350 shares of company stock worth $2,022,850. 2.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blackstone Group L.P. lifted its stake in shares of Ellington Residential Mortgage REIT by 3.2% in the first quarter. Blackstone Group L.P. now owns 2,774,523 shares of the real estate investment trust’s stock valued at $30,409,000 after buying an additional 84,821 shares during the period. Renaissance Technologies LLC lifted its stake in Ellington Residential Mortgage REIT by 7.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,075,400 shares of the real estate investment trust’s stock worth $12,948,000 after purchasing an additional 78,400 shares during the period. Gables Capital Management Inc. bought a new position in Ellington Residential Mortgage REIT during the first quarter worth about $1,687,000. Deutsche Bank AG lifted its stake in Ellington Residential Mortgage REIT by 91.5% during the fourth quarter. Deutsche Bank AG now owns 113,494 shares of the real estate investment trust’s stock worth $1,365,000 after purchasing an additional 54,241 shares during the period. Finally, Northern Trust Corp lifted its stake in Ellington Residential Mortgage REIT by 5.0% during the first quarter. Northern Trust Corp now owns 111,989 shares of the real estate investment trust’s stock worth $1,227,000 after purchasing an additional 5,379 shares during the period. Institutional investors and hedge funds own 67.35% of the company’s stock.

About Ellington Residential Mortgage REIT

Ellington Residential Mortgage REIT, a real estate investment trust, specializes in acquiring, investing in, and managing 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 comprising non-agency CMOs, such as investment grade and non-investment grade.

See Also: Earnings Per Share (EPS) Explained

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