Bank of New York Mellon Corp Purchases Shares of 144,217 Ellington Credit (NYSE:EARN)

Bank of New York Mellon Corp acquired a new position in shares of Ellington Credit (NYSE:EARN) in the 4th quarter, Holdings Channel.com reports. The fund acquired 144,217 shares of the real estate investment trust’s stock, valued at approximately $955,000.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. acquired a new stake in Ellington Credit in the 3rd quarter valued at approximately $170,000. Geode Capital Management LLC boosted its position in Ellington Credit by 21.6% during the 3rd quarter. Geode Capital Management LLC now owns 269,850 shares of the real estate investment trust’s stock worth $1,885,000 after acquiring an additional 47,998 shares during the last quarter. Barclays PLC bought a new position in shares of Ellington Credit during the 3rd quarter worth approximately $334,000. FMR LLC raised its holdings in shares of Ellington Credit by 243.2% in the third quarter. FMR LLC now owns 4,839 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 3,429 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Ellington Credit by 3.8% in the third quarter. Thrivent Financial for Lutherans now owns 79,466 shares of the real estate investment trust’s stock valued at $554,000 after purchasing an additional 2,895 shares during the last quarter. Institutional investors own 20.40% of the company’s stock.

Ellington Credit Trading Up 1.4 %

Shares of EARN opened at $5.87 on Wednesday. The stock has a market capitalization of $171.27 million, a price-to-earnings ratio of 5.24 and a beta of 1.96. Ellington Credit has a 12 month low of $5.68 and a 12 month high of $7.26. The firm has a fifty day simple moving average of $6.39 and a 200 day simple moving average of $6.61.

Ellington Credit (NYSE:EARN) last issued its quarterly earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The firm had revenue of $6.14 million for the quarter, compared to analysts’ expectations of $9.65 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. As a group, research analysts predict that Ellington Credit will post 1.17 earnings per share for the current fiscal year.

Ellington Credit Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be given a dividend of $0.08 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 16.35%. Ellington Credit’s dividend payout ratio (DPR) is presently 320.00%.

Ellington Credit 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.