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 Thursday.

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. “

Separately, Deutsche Bank AG reduced their price target on shares of Ellington Residential Mortgage REIT from $14.50 to $14.00 and set a “hold” rating for the company in a research note on Wednesday, August 2nd.

Shares of Ellington Residential Mortgage REIT (NYSE EARN) traded down 0.21% during mid-day trading on Thursday, hitting $14.52. 54,997 shares of the company were exchanged. Ellington Residential Mortgage REIT has a 52 week low of $12.21 and a 52 week high of $15.74. The company has a market capitalization of $191.74 million, a P/E ratio of 11.26 and a beta of 0.64. The company has a 50 day moving average of $14.58 and a 200 day moving average of $14.69.

Ellington Residential Mortgage REIT (NYSE:EARN) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. Ellington Residential Mortgage REIT had a net margin of 44.93% and a return on equity of 12.25%. The firm had revenue of $6.86 million during the quarter. Equities analysts anticipate that Ellington Residential Mortgage REIT will post $1.89 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This article was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/09/07/ellington-residential-mortgage-reit-earn-stock-rating-lowered-by-zacks-investment-research.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in EARN. Wells Fargo & Company MN grew its position in Ellington Residential Mortgage REIT by 894.5% during the first quarter. Wells Fargo & Company MN now owns 12,938 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 11,637 shares during the period. Hillsdale Investment Management Inc. bought a new stake in Ellington Residential Mortgage REIT during the first quarter valued at approximately $243,000. JPMorgan Chase & Co. grew its position in Ellington Residential Mortgage REIT by 639.1% during the first quarter. JPMorgan Chase & Co. now owns 7,539 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 6,519 shares during the period. BB&T Securities LLC grew its position in Ellington Residential Mortgage REIT by 1.6% during the first quarter. BB&T Securities LLC now owns 10,235 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 160 shares during the period. Finally, California Public Employees Retirement System grew its position in Ellington Residential Mortgage REIT by 5.8% during the first quarter. California Public Employees Retirement System now owns 40,100 shares of the real estate investment trust’s stock valued at $588,000 after buying an additional 2,200 shares during the period. Institutional investors own 62.11% of the company’s stock.

Ellington Residential Mortgage REIT Company Profile

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.

Get a free copy of the Zacks research report on Ellington Residential Mortgage REIT (EARN)

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.