Barclays PLC Acquires New Position in Ellington Credit (NYSE:EARN)

Barclays PLC acquired a new stake in Ellington Credit (NYSE:EARN) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 47,919 shares of the real estate investment trust’s stock, valued at approximately $334,000.

A number of other institutional investors have also recently made changes to their positions in the business. Clear Harbor Asset Management LLC acquired a new position in Ellington Credit during the 3rd quarter worth approximately $1,412,000. Renaissance Technologies LLC grew its holdings in Ellington Credit by 78.5% during the 2nd quarter. Renaissance Technologies LLC now owns 642,419 shares of the real estate investment trust’s stock worth $4,465,000 after acquiring an additional 282,600 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new position in Ellington Credit during the 3rd quarter worth approximately $170,000. FMR LLC grew its holdings in Ellington Credit by 243.2% during the 3rd quarter. FMR LLC now owns 4,839 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 3,429 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Ellington Credit during the 3rd quarter worth approximately $468,000. Institutional investors and hedge funds own 20.40% of the company’s stock.

Ellington Credit Stock Up 2.2 %

NYSE EARN opened at $6.82 on Friday. The firm has a 50 day moving average of $6.64 and a two-hundred day moving average of $6.83. Ellington Credit has a 52 week low of $5.54 and a 52 week high of $7.26. The stock has a market capitalization of $198.99 million, a PE ratio of 6.09 and a beta of 1.86.

Ellington Credit (NYSE:EARN) last issued its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. The business had revenue of $4.75 million during the quarter, compared to analysts’ expectations of $7.55 million. During the same quarter in the prior year, the business posted $0.21 EPS. On average, equities research analysts expect 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. Stockholders of record on Tuesday, December 31st will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 14.08%. The ex-dividend date is Tuesday, December 31st. Ellington Credit’s payout ratio is 85.71%.

Analyst Upgrades and Downgrades

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

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.