Wall Street brokerages expect Ellington Residential Mortgage REIT (NYSE:EARN) to post $0.25 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Ellington Residential Mortgage REIT’s earnings. Ellington Residential Mortgage REIT reported earnings per share of $0.36 in the same quarter last year, which suggests a negative year over year growth rate of 30.6%. The business is expected to report its next earnings report on Thursday, August 1st.
On average, analysts expect that Ellington Residential Mortgage REIT will report full year earnings of $1.03 per share for the current fiscal year. For the next year, analysts expect that the firm will post earnings of $1.09 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Ellington Residential Mortgage REIT.
Ellington Residential Mortgage REIT (NYSE:EARN) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.04). Ellington Residential Mortgage REIT had a return on equity of 9.78% and a net margin of 8.39%. The business had revenue of $3.06 million during the quarter.
EARN has been the topic of several research analyst reports. Zacks Investment Research raised Ellington Residential Mortgage REIT from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective on the stock in a research report on Friday, February 15th. TheStreet raised Ellington Residential Mortgage REIT from a “d” rating to a “c” rating in a research report on Friday, May 3rd.
A number of hedge funds have recently bought and sold shares of EARN. Marshall Wace LLP purchased a new position in Ellington Residential Mortgage REIT in the first quarter worth $40,000. Advisor Group Inc. boosted its position in Ellington Residential Mortgage REIT by 1,619.0% in the fourth quarter. Advisor Group Inc. now owns 10,314 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 9,714 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Ellington Residential Mortgage REIT during the 4th quarter valued at $116,000. Wedbush Securities Inc. lifted its position in shares of Ellington Residential Mortgage REIT by 9.4% during the 4th quarter. Wedbush Securities Inc. now owns 13,020 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 1,120 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Ellington Residential Mortgage REIT during the 4th quarter valued at $154,000. 63.57% of the stock is currently owned by institutional investors and hedge funds.
EARN stock traded down $0.05 during midday trading on Friday, hitting $11.30. The company’s stock had a trading volume of 100 shares, compared to its average volume of 55,750. Ellington Residential Mortgage REIT has a 1 year low of $10.14 and a 1 year high of $12.14. The stock has a market cap of $142.37 million, a P/E ratio of 8.43 and a beta of 0.72.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Friday, March 29th were given a $0.34 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.36 annualized dividend and a yield of 12.04%. Ellington Residential Mortgage REIT’s dividend payout ratio is currently 101.49%.
About Ellington Residential Mortgage REIT
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.
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