Bogart Wealth LLC Has $30,000 Holdings in Ellington Credit Company $EARN

Bogart Wealth LLC raised its position in Ellington Credit Company (NYSE:EARN) by 62.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,200 shares of the real estate investment trust’s stock after purchasing an additional 2,000 shares during the quarter. Bogart Wealth LLC’s holdings in Ellington Credit were worth $30,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Clear Harbor Asset Management LLC boosted its position in Ellington Credit by 21.6% during the second quarter. Clear Harbor Asset Management LLC now owns 350,500 shares of the real estate investment trust’s stock valued at $2,015,000 after purchasing an additional 62,200 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Ellington Credit by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 126,864 shares of the real estate investment trust’s stock worth $686,000 after acquiring an additional 45,845 shares in the last quarter. Jane Street Group LLC raised its position in Ellington Credit by 415.4% during the first quarter. Jane Street Group LLC now owns 379,906 shares of the real estate investment trust’s stock worth $2,055,000 after acquiring an additional 306,192 shares in the last quarter. PharVision Advisers LLC acquired a new stake in Ellington Credit in the first quarter valued at $93,000. Finally, Millennium Management LLC grew its position in shares of Ellington Credit by 485.8% in the 1st quarter. Millennium Management LLC now owns 932,326 shares of the real estate investment trust’s stock valued at $5,044,000 after acquiring an additional 773,169 shares during the period. 20.40% of the stock is owned by institutional investors and hedge funds.

Ellington Credit Stock Up 0.8%

NYSE EARN opened at $5.24 on Wednesday. The company has a market capitalization of $196.81 million, a price-to-earnings ratio of 29.11 and a beta of 1.33. Ellington Credit Company has a twelve month low of $4.32 and a twelve month high of $7.11. The stock has a fifty day simple moving average of $5.55 and a 200 day simple moving average of $5.57.

Ellington Credit (NYSE:EARN) last released its quarterly earnings results on Tuesday, August 19th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Ellington Credit had a net margin of 19.24% and a return on equity of 15.90%. The company had revenue of $9.87 million during the quarter, compared to the consensus estimate of $12.15 million. Research analysts expect that Ellington Credit Company will post 1.17 earnings per share for the current fiscal year.

Ellington Credit Dividend Announcement

The company also recently disclosed a oct 25 dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, October 31st. This represents a dividend yield of 1,859.0%. Ellington Credit’s payout ratio is currently 533.33%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EARN. UBS Group dropped their price objective on Ellington Credit from $5.75 to $5.25 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Wall Street Zen cut Ellington Credit from a “hold” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ellington Credit has a consensus rating of “Moderate Buy” and an average target price of $5.88.

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.