Ellington Residential Mortgage REIT (NYSE:EARN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

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, BidaskClub cut Ellington Residential Mortgage REIT from a “sell” rating to a “strong sell” rating in a research note on Friday, November 3rd.

Shares of Ellington Residential Mortgage REIT (NYSE:EARN) traded down $0.14 on Friday, hitting $12.71. The company’s stock had a trading volume of 115,343 shares, compared to its average volume of 107,917. The firm has a market capitalization of $172.83, a PE ratio of 6.83 and a beta of 0.62. Ellington Residential Mortgage REIT has a 12 month low of $12.50 and a 12 month high of $15.74.

Ellington Residential Mortgage REIT (NYSE:EARN) last issued its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.02). The company had revenue of $7.15 million for the quarter. Ellington Residential Mortgage REIT had a return on equity of 12.02% and a net margin of 40.44%. equities research analysts expect that Ellington Residential Mortgage REIT will post 1.86 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in EARN. State Treasurer State of Michigan acquired a new position in shares of Ellington Residential Mortgage REIT in the third quarter worth about $8,422,000. JPMorgan Chase & Co. raised its stake in Ellington Residential Mortgage REIT by 4,144.0% during the second 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 in the last quarter. Renaissance Technologies LLC raised its stake in Ellington Residential Mortgage REIT by 32.6% during 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 buying an additional 212,702 shares in the last quarter. ClariVest Asset Management LLC raised its stake in Ellington Residential Mortgage REIT by 101.3% during the second quarter. ClariVest Asset Management LLC now owns 271,829 shares of the real estate investment trust’s stock valued at $3,986,000 after buying an additional 136,813 shares in the last quarter. Finally, State Street Corp acquired a new stake in Ellington Residential Mortgage REIT during the second quarter valued at approximately $1,306,000. Institutional investors and hedge funds own 67.12% of the company’s stock.

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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.

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