Ellington Residential Mortgage REIT (NYSE:EARN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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. “

Separately, Deutsche Bank AG decreased their target price on Ellington Residential Mortgage REIT from $14.50 to $14.00 and set a “hold” rating on the stock in a report on Wednesday, August 2nd.

Ellington Residential Mortgage REIT (NYSE:EARN) traded down 0.89% during mid-day trading on Tuesday, hitting $14.46. 92,800 shares of the company traded hands. The stock has a market capitalization of $190.94 million, a price-to-earnings ratio of 11.21 and a beta of 0.64. The company’s 50-day moving average is $14.58 and its 200-day moving average is $14.72. Ellington Residential Mortgage REIT has a one year low of $12.21 and a one year high of $15.74.

Ellington Residential Mortgage REIT (NYSE:EARN) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.47. Ellington Residential Mortgage REIT had a return on equity of 12.25% and a net margin of 44.93%. The company had revenue of $6.86 million during the quarter. Analysts predict that Ellington Residential Mortgage REIT will post $1.89 EPS for the current year.

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Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in Ellington Residential Mortgage REIT by 4,144.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 319,958 shares of the real estate investment trust’s stock valued at $4,690,000 after buying an additional 312,419 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Ellington Residential Mortgage REIT by 32.6% in the 2nd quarter. Renaissance Technologies LLC now owns 864,302 shares of the real estate investment trust’s stock valued at $12,671,000 after acquiring an additional 212,702 shares during the period. Acadian Asset Management LLC raised its holdings in Ellington Residential Mortgage REIT by 60.2% in the 2nd quarter. Acadian Asset Management LLC now owns 469,608 shares of the real estate investment trust’s stock valued at $6,886,000 after acquiring an additional 176,489 shares during the period. Ranger Global Real Estate Advisors LLC bought a new position in Ellington Residential Mortgage REIT in the 1st quarter valued at about $2,013,000. Finally, ClariVest Asset Management LLC raised its holdings in Ellington Residential Mortgage REIT by 101.3% in the 2nd quarter. ClariVest Asset Management LLC now owns 271,829 shares of the real estate investment trust’s stock valued at $3,986,000 after acquiring an additional 136,813 shares during the period. 62.11% of the stock is owned by institutional investors and hedge funds.

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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