Zacks Investment Research Downgrades Ellington Residential Mortgage REIT (EARN) to Hold
Ellington Residential Mortgage REIT (NYSE:EARN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Ellington Residential Mortgage REIT is a real estate investment trust that specializes in acquiring, investing in and managing residential mortgage and real estate-related assets. Ellington Residential Mortgage REIT is based in United States. “
A hedge fund recently raised its stake in Ellington Residential Mortgage REIT stock. Renaissance Technologies LLC raised its stake in shares of Ellington Residential Mortgage REIT (NYSE:EARN) by 8.7% during the first quarter, Holdings Channel reports. The institutional investor owned 372,700 shares of the real estate investment trust’s stock after buying an additional 29,700 shares during the period. Renaissance Technologies LLC owned about 4.08% of Ellington Residential Mortgage REIT worth $4,461,000 at the end of the most recent reporting period.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/07/05/zacks-investment-research-downgrades-ellington-residential-mortgage-reit-earn-to-hold/
Ellington Residential Mortgage REIT (NYSE:EARN) traded down 1.28% during trading on Tuesday, hitting $13.06. 37,981 shares of the stock were exchanged. Ellington Residential Mortgage REIT has a 1-year low of $9.57 and a 1-year high of $14.76. The firm’s 50 day moving average price is $13.02 and its 200-day moving average price is $12.22. The stock’s market cap is $119.07 million.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Thursday, June 30th will be given a $0.40 dividend. The ex-dividend date is Tuesday, June 28th. This represents a $1.60 annualized dividend and a dividend yield of 12.25%.
Ellington Residential Mortgage REIT is a real estate investment trust (REIT). The Company is specializes in acquiring, investing in, and managing residential mortgage- and real estate-related assets. The Company’s primary objective is to generate current yields and risk-adjusted total returns for its shareholders by making investments.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ellington Residential Mortgage REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellington Residential Mortgage REIT and related companies with MarketBeat.com's FREE daily email newsletter.