Ellington Credit (NYSE:EARN) Short Interest Update

Ellington Credit (NYSE:EARN) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 535,400 shares, an increase of 22.7% from the October 15th total of 436,300 shares. Based on an average daily volume of 394,900 shares, the days-to-cover ratio is currently 1.4 days.

Ellington Credit Trading Up 2.1 %

EARN traded up $0.13 on Friday, hitting $6.46. 688,635 shares of the company were exchanged, compared to its average volume of 462,239. The firm has a 50-day moving average price of $6.79 and a two-hundred day moving average price of $6.91. Ellington Credit has a twelve month low of $5.54 and a twelve month high of $7.26. The company has a market cap of $163.63 million, a price-to-earnings ratio of 5.77 and a beta of 1.87.

Ellington Credit (NYSE:EARN) last announced its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Ellington Credit had a return on equity of 17.20% and a net margin of 226.01%. The business had revenue of $4.75 million during the quarter, compared to the consensus estimate of $7.55 million. During the same period in the previous year, the company posted $0.21 earnings per share. Equities analysts expect that Ellington Credit will post 1.16 EPS for the current year.

Ellington Credit Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Friday, November 29th will be given a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.86%. The ex-dividend date is Friday, November 29th. Ellington Credit’s dividend payout ratio is presently 85.71%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Ellington Credit from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th.

Institutional Investors Weigh In On Ellington Credit

A number of hedge funds and other institutional investors have recently modified their holdings of EARN. Renaissance Technologies LLC raised its position in shares of Ellington Credit by 78.5% during the 2nd quarter. Renaissance Technologies LLC now owns 642,419 shares of the real estate investment trust’s stock worth $4,465,000 after acquiring an additional 282,600 shares in the last quarter. Geode Capital Management LLC increased its stake in Ellington Credit by 21.6% in the third quarter. Geode Capital Management LLC now owns 269,850 shares of the real estate investment trust’s stock valued at $1,885,000 after purchasing an additional 47,998 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new stake in Ellington Credit during the third quarter worth approximately $1,412,000. Thrivent Financial for Lutherans lifted its position in shares of Ellington Credit by 3.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 79,466 shares of the real estate investment trust’s stock worth $554,000 after buying an additional 2,895 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Ellington Credit in the 3rd quarter valued at $468,000. 20.40% of the stock is currently owned by institutional investors and hedge funds.

Ellington Credit Company Profile

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.