Ellington Residential Mortgage REIT (NYSE:EARN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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 number of other brokerages have also issued reports on EARN. BidaskClub lowered Ellington Residential Mortgage REIT from a “sell” rating to a “strong sell” rating in a research note on Friday, November 3rd. Deutsche Bank AG decreased 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 note on Wednesday, August 2nd.

Shares of Ellington Residential Mortgage REIT (NYSE EARN) remained flat at $$12.74 during trading on Tuesday. The company had a trading volume of 73,900 shares, compared to its average volume of 109,444. Ellington Residential Mortgage REIT has a 12 month low of $12.35 and a 12 month high of $15.74. The firm has a market capitalization of $169.90, a price-to-earnings ratio of 6.71 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 analysts’ consensus estimates of $0.45 by ($0.02). Ellington Residential Mortgage REIT had a return on equity of 12.02% and a net margin of 40.44%. The business had revenue of $7.15 million during the quarter. equities research analysts expect that Ellington Residential Mortgage REIT will post 1.87 EPS for the current year.

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Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its holdings in shares of Ellington Residential Mortgage REIT by 32.6% in the second quarter. Renaissance Technologies LLC now owns 864,302 shares of the real estate investment trust’s stock valued at $12,671,000 after purchasing an additional 212,702 shares in the last quarter. State Treasurer State of Michigan purchased a new stake in shares of Ellington Residential Mortgage REIT during the third quarter worth $8,422,000. Acadian Asset Management LLC raised its holdings in shares of Ellington Residential Mortgage REIT by 60.2% during the second quarter. Acadian Asset Management LLC now owns 469,608 shares of the real estate investment trust’s stock worth $6,886,000 after acquiring an additional 176,489 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Ellington Residential Mortgage REIT by 5.4% during the second quarter. Vanguard Group Inc. now owns 460,514 shares of the real estate investment trust’s stock worth $6,751,000 after acquiring an additional 23,519 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Ellington Residential Mortgage REIT by 7.1% during the third quarter. JPMorgan Chase & Co. now owns 342,740 shares of the real estate investment trust’s stock worth $4,953,000 after acquiring an additional 22,782 shares in the last quarter. Institutional investors own 67.33% 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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