Martingale Asset Management L P Invests $1.03 Million in Ellington Residential Mortgage REIT (EARN) Stock

Martingale Asset Management L P bought a new position in shares of Ellington Residential Mortgage REIT (NYSE:EARN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 70,433 shares of the real estate investment trust’s stock, valued at approximately $1,033,000. Martingale Asset Management L P owned 0.57% of Ellington Residential Mortgage REIT at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Renaissance Technologies LLC increased its holdings in Ellington Residential Mortgage REIT by 0.6% during the 1st quarter. Renaissance Technologies LLC now owns 651,600 shares of the real estate investment trust’s stock worth $9,552,000 after acquiring an additional 4,074 shares during the period. Acadian Asset Management LLC increased its holdings in Ellington Residential Mortgage REIT by 60.2% during the 2nd quarter. Acadian Asset Management LLC now owns 469,608 shares of the real estate investment trust’s stock worth $6,886,000 after acquiring an additional 176,489 shares during the period. Vanguard Group Inc. increased its holdings in Ellington Residential Mortgage REIT by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 436,995 shares of the real estate investment trust’s stock worth $6,407,000 after acquiring an additional 21,208 shares during the period. JPMorgan Chase & Co. increased its holdings in Ellington Residential Mortgage REIT by 4,144.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 319,958 shares of the real estate investment trust’s stock worth $4,690,000 after acquiring an additional 312,419 shares during the period. Finally, ClariVest Asset Management LLC increased its holdings in Ellington Residential Mortgage REIT by 101.3% during the 2nd quarter. ClariVest Asset Management LLC now owns 271,829 shares of the real estate investment trust’s stock worth $3,986,000 after acquiring an additional 136,813 shares during the period. 62.11% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently weighed in on EARN. Deutsche Bank AG decreased their target price on shares of Ellington Residential Mortgage REIT from $14.50 to $14.00 and set a “hold” rating on the stock in a report on Wednesday, August 2nd. Zacks Investment Research lowered shares of Ellington Residential Mortgage REIT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 4th.

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Shares of Ellington Residential Mortgage REIT (NYSE EARN) opened at 14.71 on Friday. The company’s 50-day moving average is $14.53 and its 200-day moving average is $14.69. Ellington Residential Mortgage REIT has a 12-month low of $12.21 and a 12-month high of $15.74. The company has a market cap of $194.25 million, a price-to-earnings ratio of 11.40 and a beta of 0.64.

Ellington Residential Mortgage REIT (NYSE:EARN) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Ellington Residential Mortgage REIT had a net margin of 44.93% and a return on equity of 12.25%. The business had revenue of $6.86 million for the quarter. Equities research analysts predict that Ellington Residential Mortgage REIT will post $1.89 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 10.88%. The ex-dividend date is Thursday, September 28th. Ellington Residential Mortgage REIT’s dividend payout ratio is currently 121.21%.

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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Institutional Ownership by Quarter for Ellington Residential Mortgage REIT (NYSE:EARN)

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