Ellington Credit Company (NYSE:EARN) Short Interest Update

Ellington Credit Company (NYSE:EARN) saw a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 362,079 shares, a growth of 26.4% from the January 15th total of 286,387 shares. Based on an average daily trading volume, of 463,705 shares, the days-to-cover ratio is presently 0.8 days. Currently, 1.0% of the company’s shares are sold short. Currently, 1.0% of the company’s shares are sold short. Based on an average daily trading volume, of 463,705 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EARN shares. Wall Street Zen raised Ellington Credit from a “sell” rating to a “hold” rating in a research note on Tuesday, November 11th. UBS Group set a $6.00 target price on shares of Ellington Credit in a report on Tuesday, December 23rd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Ellington Credit presently has an average rating of “Moderate Buy” and a consensus target price of $6.25.

Ellington Credit Stock Down 0.4%

Ellington Credit stock traded down $0.02 during trading on Monday, reaching $5.24. The stock had a trading volume of 337,854 shares, compared to its average volume of 433,906. Ellington Credit has a 52-week low of $4.32 and a 52-week high of $6.59. The stock has a market cap of $196.70 million, a PE ratio of 65.47 and a beta of 1.27. The business has a 50 day moving average price of $5.36 and a 200 day moving average price of $5.43.

Ellington Credit (NYSE:EARN) last announced its quarterly earnings results on Wednesday, November 19th. The real estate investment trust reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Ellington Credit had a net margin of 12.41% and a return on equity of 16.47%. The company had revenue of $11.88 million for the quarter, compared to analyst estimates of $11.41 million. On average, equities analysts predict that Ellington Credit will post 1.17 EPS for the current fiscal year.

Ellington Credit Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a dividend of $0.08 per share. This represents a c) annualized dividend and a yield of 18.3%. The ex-dividend date of this dividend is Friday, February 27th. Ellington Credit’s dividend payout ratio (DPR) is presently 1,200.00%.

Institutional Investors Weigh In On Ellington Credit

A number of institutional investors and hedge funds have recently made changes to their positions in EARN. Millennium Management LLC grew its holdings in shares of Ellington Credit by 485.8% during the first quarter. Millennium Management LLC now owns 932,326 shares of the real estate investment trust’s stock worth $5,044,000 after buying an additional 773,169 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Ellington Credit by 56.6% during the 1st 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 during the period. Jane Street Group LLC grew its stake in shares of Ellington Credit by 415.4% in the 1st quarter. Jane Street Group LLC now owns 379,906 shares of the real estate investment trust’s stock valued at $2,055,000 after purchasing an additional 306,192 shares during the last quarter. Bogart Wealth LLC increased its holdings in shares of Ellington Credit by 62.5% in the second quarter. Bogart Wealth LLC now owns 5,200 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,000 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Ellington Credit by 14.1% in the second quarter. Envestnet Asset Management Inc. now owns 71,562 shares of the real estate investment trust’s stock valued at $411,000 after purchasing an additional 8,859 shares during the period. 20.40% of the stock is owned by hedge funds and other institutional investors.

Ellington Credit Company Profile

Ellington Credit Income Fund (NYSE: EARN) is a closed-end management investment company that seeks to generate current income through a diversified portfolio of mortgage- and asset-backed securities. The fund primarily invests in residential mortgage-backed securities (RMBS) and asset-backed securities (ABS), with additional exposure to commercial mortgage-backed securities (CMBS) and related structured credit instruments. To enhance income and manage risk, the fund employs leverage and derivative strategies such as interest rate swaps and credit default swaps, allowing it to adjust duration and credit exposure dynamically.

The fund is externally managed and advised by Ellington Management Group, LLC, an established investment firm specializing in mortgage credit and structured products.