Short Interest in Ellington Residential Mortgage REIT (NYSE:EARN) Expands By 19.8%

Ellington Residential Mortgage REIT (NYSE:EARN) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 299,700 shares, an increase of 19.8% from the December 15th total of 250,200 shares. Approximately 3.3% of the company’s stock are sold short. Based on an average daily trading volume, of 29,100 shares, the days-to-cover ratio is currently 10.3 days.

Separately, TheStreet raised shares of Ellington Residential Mortgage REIT from a “d” rating to a “c” rating in a research report on Monday, November 25th.

Shares of EARN stock traded down $0.07 during mid-day trading on Tuesday, hitting $10.84. 166,317 shares of the stock traded hands, compared to its average volume of 50,169. The stock has a market cap of $136.39 million, a P/E ratio of 10.82 and a beta of 0.75. The stock’s fifty day moving average is $11.11 and its two-hundred day moving average is $10.83. Ellington Residential Mortgage REIT has a 52-week low of $9.68 and a 52-week high of $12.14.

Ellington Residential Mortgage REIT (NYSE:EARN) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.04). The firm had revenue of $1.67 million for the quarter. Ellington Residential Mortgage REIT had a net margin of 20.65% and a return on equity of 8.03%.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 10.33%. The ex-dividend date is Monday, December 30th.

Hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP acquired a new position in shares of Ellington Residential Mortgage REIT during the third quarter valued at about $194,000. Susquehanna International Group LLP increased its holdings in shares of Ellington Residential Mortgage REIT by 34.7% during the second quarter. Susquehanna International Group LLP now owns 59,455 shares of the real estate investment trust’s stock valued at $640,000 after acquiring an additional 15,315 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Ellington Residential Mortgage REIT by 0.9% during the second quarter. Vanguard Group Inc. now owns 737,493 shares of the real estate investment trust’s stock valued at $7,936,000 after acquiring an additional 6,438 shares in the last quarter. State Street Corp increased its holdings in shares of Ellington Residential Mortgage REIT by 11.8% during the third quarter. State Street Corp now owns 32,366 shares of the real estate investment trust’s stock valued at $350,000 after acquiring an additional 3,413 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Ellington Residential Mortgage REIT during the first quarter valued at about $40,000. 61.31% of the stock is owned by institutional investors and hedge funds.

Ellington Residential Mortgage REIT Company Profile

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.

Further Reading: Are sell-side analysts objective?

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