XTX Topco Ltd Buys Shares of 37,689 Ellington Credit (NYSE:EARN)

XTX Topco Ltd purchased a new position in Ellington Credit (NYSE:EARN) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 37,689 shares of the real estate investment trust’s stock, valued at approximately $250,000. XTX Topco Ltd owned 0.13% of Ellington Credit as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of EARN. Wells Fargo & Company MN raised its holdings in Ellington Credit by 56,104,600.0% in the 4th quarter. Wells Fargo & Company MN now owns 1,122,094 shares of the real estate investment trust’s stock valued at $7,428,000 after acquiring an additional 1,122,092 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Ellington Credit during the fourth quarter valued at approximately $955,000. Arrowstreet Capital Limited Partnership increased its position in shares of Ellington Credit by 35.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 195,955 shares of the real estate investment trust’s stock valued at $1,297,000 after purchasing an additional 51,345 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 in the last quarter. Finally, Barclays PLC bought a new position in Ellington Credit in the third quarter worth $334,000. 20.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EARN has been the subject of a number of recent research reports. UBS Group dropped their price objective on shares of Ellington Credit from $6.50 to $5.25 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Piper Sandler cut their price target on shares of Ellington Credit from $8.00 to $6.50 and set an “overweight” rating for the company in a research note on Tuesday, April 8th.

Insider Transactions at Ellington Credit

In related news, Portfolio Manager Gregory Morris Borenstein purchased 8,000 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was acquired at an average price of $4.73 per share, with a total value of $37,840.00. Following the completion of the acquisition, the portfolio manager now directly owns 18,000 shares in the company, valued at approximately $85,140. This trade represents a 80.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.

Ellington Credit Stock Up 2.2 %

Shares of Ellington Credit stock opened at $5.61 on Friday. Ellington Credit has a 12-month low of $4.33 and a 12-month high of $7.26. The stock has a market capitalization of $210.71 million, a P/E ratio of 5.01 and a beta of 1.74. The company has a 50-day simple moving average of $5.69 and a 200 day simple moving average of $6.32.

Ellington Credit (NYSE:EARN) last posted its quarterly earnings data on Wednesday, March 12th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. The company had revenue of $6.14 million during the quarter, compared to analyst estimates of $9.65 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. On average, equities analysts anticipate that Ellington Credit will post 1.17 earnings per share for the current year.

Ellington Credit Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 17.11%. The ex-dividend date is Wednesday, April 30th. Ellington Credit’s dividend payout ratio is currently 320.00%.

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.