Ellington Credit (NYSE:EARN) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Shares of Ellington Credit (NYSE:EARN) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.63 and traded as low as $5.68. Ellington Credit shares last traded at $5.71, with a volume of 525,116 shares.

Ellington Credit Stock Performance

The stock has a market capitalization of $166.45 million, a price-to-earnings ratio of 5.09 and a beta of 1.96. The firm’s fifty day simple moving average is $6.41 and its 200 day simple moving average is $6.63.

Ellington Credit (NYSE:EARN) last announced its earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The firm had revenue of $6.14 million for the quarter, compared to the consensus estimate of $9.65 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. Analysts forecast that Ellington Credit will post 1.17 earnings per share for the current year.

Ellington Credit Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 16.83%. Ellington Credit’s dividend payout ratio (DPR) is currently 320.00%.

Institutional Trading of Ellington Credit

A number of hedge funds and other institutional investors have recently made changes to their positions in EARN. Quantbot Technologies LP acquired a new stake in shares of Ellington Credit in the fourth quarter valued at approximately $30,000. FMR LLC raised its holdings in shares of Ellington Credit by 243.2% in the third quarter. FMR LLC now owns 4,839 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 3,429 shares during the last quarter. State of Wyoming acquired a new stake in shares of Ellington Credit in the fourth quarter valued at approximately $49,000. Naviter Wealth LLC acquired a new stake in shares of Ellington Credit in the fourth quarter valued at approximately $72,000. Finally, McIlrath & Eck LLC acquired a new stake in shares of Ellington Credit in the fourth quarter valued at approximately $80,000. 20.40% of the stock is currently owned by institutional investors and hedge funds.

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.