Geode Capital Management LLC Acquires 47,998 Shares of Ellington Credit (NYSE:EARN)

Geode Capital Management LLC lifted its holdings in shares of Ellington Credit (NYSE:EARN) by 21.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 269,850 shares of the real estate investment trust’s stock after acquiring an additional 47,998 shares during the period. Geode Capital Management LLC’s holdings in Ellington Credit were worth $1,885,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors 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 valued at about $1,412,000. Renaissance Technologies LLC lifted its holdings in shares of Ellington Credit by 78.5% in the second quarter. Renaissance Technologies LLC now owns 642,419 shares of the real estate investment trust’s stock valued at $4,465,000 after purchasing an additional 282,600 shares in the last quarter. Charles Schwab Investment Management Inc. purchased a new position in shares of Ellington Credit during the third quarter valued at approximately $170,000. Barclays PLC bought a new stake in Ellington Credit during the third quarter worth $334,000. Finally, FMR LLC raised its position in Ellington Credit by 243.2% in the 3rd quarter. FMR LLC now owns 4,839 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 3,429 shares during the last quarter. 20.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Ellington Credit Trading Down 0.8 %

Shares of Ellington Credit stock opened at $6.54 on Thursday. The business’s fifty day simple moving average is $6.63 and its 200 day simple moving average is $6.82. Ellington Credit has a 12 month low of $5.54 and a 12 month high of $7.26. The firm has a market capitalization of $190.82 million, a P/E ratio of 5.84 and a beta of 1.86.

Ellington Credit (NYSE:EARN) last released its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $4.75 million for the quarter, compared to analysts’ expectations of $7.55 million. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. During the same period in the previous year, the business posted $0.21 EPS. Analysts predict that Ellington Credit will post 1.17 EPS for the current fiscal year.

Ellington Credit Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, January 27th. Investors of record on Tuesday, December 31st will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 14.68%. The ex-dividend date is Tuesday, December 31st. Ellington Credit’s dividend payout ratio is currently 85.71%.

Ellington Credit Company Profile

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.