Ellington Residential Mortgage REIT (NYSE:EARN) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday.

Several other equities research analysts also recently weighed in on EARN. Zacks Investment Research raised Ellington Residential Mortgage REIT from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Friday, September 8th. Deutsche Bank AG dropped their price target on Ellington Residential Mortgage REIT from $14.50 to $14.00 and set a “hold” rating for the company in a research report on Wednesday, August 2nd.

Ellington Residential Mortgage REIT (NYSE:EARN) traded down $0.25 on Friday, reaching $13.03. 257,484 shares of the company traded hands, compared to its average volume of 73,746. Ellington Residential Mortgage REIT has a 52 week low of $12.29 and a 52 week high of $15.74. The company has a market cap of $173.77, a P/E ratio of 6.86 and a beta of 0.61.

Ellington Residential Mortgage REIT (NYSE:EARN) last issued its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.02). The company had revenue of $7.15 million during the quarter. Ellington Residential Mortgage REIT had a net margin of 40.44% and a return on equity of 12.84%. equities research analysts predict that Ellington Residential Mortgage REIT will post 1.87 EPS for the current year.

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Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of Ellington Residential Mortgage REIT by 639.1% in the 1st 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. Bessemer Group Inc. purchased a new position in Ellington Residential Mortgage REIT in the second quarter valued at about $119,000. New York State Common Retirement Fund purchased a new position in Ellington Residential Mortgage REIT in the second quarter valued at about $130,000. Cubist Systematic Strategies LLC bought a new stake in shares of Ellington Residential Mortgage REIT during the 2nd quarter worth about $155,000. Finally, Menta Capital LLC bought a new stake in shares of Ellington Residential Mortgage REIT during the 2nd quarter worth about $170,000. Institutional investors and hedge funds own 66.32% of the company’s stock.

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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