Clear Harbor Asset Management LLC Invests $1.41 Million in Ellington Credit (NYSE:EARN)

Clear Harbor Asset Management LLC acquired a new stake in Ellington Credit (NYSE:EARN) during the third quarter, according to its most recent filing with the SEC. The firm acquired 202,355 shares of the real estate investment trust’s stock, valued at approximately $1,412,000.

Several other institutional investors also recently bought and sold shares of EARN. Inspire Advisors LLC boosted its holdings in shares of Ellington Credit by 18.1% in the first quarter. Inspire Advisors LLC now owns 12,426 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 1,903 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Ellington Credit during the third quarter worth about $468,000. Finally, Renaissance Technologies LLC boosted its holdings in Ellington Credit by 78.5% in the 2nd quarter. Renaissance Technologies LLC now owns 642,419 shares of the real estate investment trust’s stock valued at $4,465,000 after purchasing an additional 282,600 shares in the last quarter. 20.40% of the stock is owned by institutional investors and hedge funds.

Ellington Credit Trading Down 1.2 %

NYSE EARN opened at $6.86 on Friday. The stock has a market capitalization of $173.76 million, a price-to-earnings ratio of 42.88 and a beta of 1.87. The business’s 50 day moving average is $6.91 and its two-hundred day moving average is $6.93. Ellington Credit has a 12-month low of $5.09 and a 12-month high of $7.26.

Ellington Credit (NYSE:EARN) last announced its quarterly earnings data on Monday, August 12th. The real estate investment trust reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. The business had revenue of $3.90 million for the quarter, compared to analyst estimates of $6.35 million. During the same period in the prior year, the company earned $0.17 EPS. Equities analysts forecast that Ellington Credit will post 1.16 earnings per share for the current fiscal year.

Ellington Credit Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 25th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.96 annualized dividend and a yield of 13.99%. Ellington Credit’s payout ratio is currently 600.04%.

About Ellington Credit

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.