Ellington Credit (NYSE:EARN) Short Interest Update

Ellington Credit (NYSE:EARN) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 716,000 shares, an increase of 7.4% from the November 15th total of 666,900 shares. Based on an average trading volume of 411,400 shares, the short-interest ratio is presently 1.7 days.

Ellington Credit Price Performance

Shares of Ellington Credit stock traded down $0.06 on Tuesday, hitting $6.56. 473,412 shares of the company’s stock traded hands, compared to its average volume of 337,364. Ellington Credit has a one year low of $5.54 and a one year high of $7.26. The stock has a market capitalization of $188.93 million, a PE ratio of 5.86 and a beta of 1.86. The firm’s 50-day moving average price is $6.71 and its two-hundred day moving average price is $6.86.

Ellington Credit (NYSE:EARN) last posted its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $4.75 million during the quarter, compared to analysts’ expectations of $7.55 million. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, analysts forecast that Ellington Credit will post 1.17 earnings per share for the current fiscal year.

Ellington Credit Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, January 27th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 14.63%. The ex-dividend date of this dividend is Tuesday, December 31st. Ellington Credit’s payout ratio is 85.71%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Ellington Credit from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

Hedge Funds Weigh In On Ellington Credit

A number of large investors have recently made changes to their positions in EARN. Clear Harbor Asset Management LLC bought a new position in shares of Ellington Credit in the 3rd quarter valued at $1,412,000. Renaissance Technologies LLC boosted its stake in shares of 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. International Assets Investment Management LLC bought a new stake in shares of Ellington Credit during the 3rd quarter valued at approximately $468,000. Thrivent Financial for Lutherans boosted its position in Ellington Credit by 3.8% in the third quarter. Thrivent Financial for Lutherans now owns 79,466 shares of the real estate investment trust’s stock valued at $554,000 after buying an additional 2,895 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Ellington Credit during the third quarter worth $220,000. Institutional investors own 20.40% of the company’s stock.

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.