Equities analysts predict that Ellington Residential Mortgage REIT (NYSE:EARN) will announce earnings per share of $0.47 for the current quarter, according to Zacks. Zero analysts have issued estimates for Ellington Residential Mortgage REIT’s earnings. Ellington Residential Mortgage REIT reported earnings of $0.48 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.1%. The firm is expected to report its next earnings results on Tuesday, August 1st.

On average, analysts expect that Ellington Residential Mortgage REIT will report full-year earnings of $1.84 per share for the current fiscal year. For the next fiscal year, analysts expect that the firm will report earnings of $1.50 per share. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Ellington Residential Mortgage REIT.

Ellington Residential Mortgage REIT (NYSE:EARN) last released its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.04. Ellington Residential Mortgage REIT had a net margin of 55.08% and a return on equity of 12.68%. The company had revenue of $9.15 million during the quarter.

Separately, Zacks Investment Research upgraded shares of Ellington Residential Mortgage REIT from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Monday, May 8th.

Several institutional investors have recently modified their holdings of EARN. JPMorgan Chase & Co. raised its position in shares of Ellington Residential Mortgage REIT by 639.1% in the first quarter. JPMorgan Chase & Co. now owns 7,539 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 6,519 shares in the last quarter. BB&T Securities LLC raised its position in shares of Ellington Residential Mortgage REIT by 1.6% in the first quarter. BB&T Securities LLC now owns 10,235 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 160 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Ellington Residential Mortgage REIT by 894.5% in the first quarter. Wells Fargo & Company MN now owns 12,938 shares of the real estate investment trust’s stock worth $190,000 after buying an additional 11,637 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Ellington Residential Mortgage REIT during the first quarter worth $199,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Ellington Residential Mortgage REIT during the first quarter worth $243,000. Hedge funds and other institutional investors own 48.26% of the company’s stock.

Shares of Ellington Residential Mortgage REIT (NYSE EARN) traded down 2.27% on Tuesday, reaching $14.61. 175,227 shares of the company’s stock traded hands. Ellington Residential Mortgage REIT has a 52-week low of $12.21 and a 52-week high of $15.74. The stock has a market cap of $133.39 million, a price-to-earnings ratio of 9.39 and a beta of 0.63. The firm’s 50-day moving average is $14.74 and its 200-day moving average is $14.24.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th will be given a $0.40 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.95%. Ellington Residential Mortgage REIT’s payout ratio is currently 103.23%.

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About Ellington Residential Mortgage REIT

Ellington Residential Mortgage REIT is a real estate investment trust. The Company conducts its business through its subsidiaries, EARN OP GP LLC and Ellington Residential Mortgage LP (the Operating Partnership). It specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets.

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