Ellington Residential Mortgage REIT (NYSE:EARN) was the target of a large increase in short interest in the month of December. As of December 29th, there was short interest totalling 941,600 shares, an increase of 38.8% from the December 15th total of 678,502 shares. Based on an average daily volume of 151,716 shares, the days-to-cover ratio is presently 6.2 days. Approximately 9.0% of the company’s shares are short sold.

A number of institutional investors have recently modified their holdings of EARN. Mackenzie Financial Corp grew its position in shares of Ellington Residential Mortgage REIT by 16.8% in the 3rd quarter. Mackenzie Financial Corp now owns 46,033 shares of the real estate investment trust’s stock worth $668,000 after buying an additional 6,615 shares during the period. BB&T Securities LLC grew its position in shares of Ellington Residential Mortgage REIT by 16.3% in the 3rd quarter. BB&T Securities LLC now owns 29,925 shares of the real estate investment trust’s stock worth $434,000 after buying an additional 4,200 shares during the period. JPMorgan Chase & Co. grew its position in shares of Ellington Residential Mortgage REIT by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 342,740 shares of the real estate investment trust’s stock worth $4,953,000 after buying an additional 22,782 shares during the period. ClariVest Asset Management LLC grew its position in shares of Ellington Residential Mortgage REIT by 8.6% in the 3rd quarter. ClariVest Asset Management LLC now owns 295,251 shares of the real estate investment trust’s stock worth $4,287,000 after buying an additional 23,422 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Ellington Residential Mortgage REIT in the 3rd quarter worth about $109,000. 66.67% of the stock is currently owned by institutional investors and hedge funds.

Ellington Residential Mortgage REIT (NYSE EARN) opened at $11.60 on Wednesday. The stock has a market cap of $155.63, a price-to-earnings ratio of 10.84 and a beta of 0.59. Ellington Residential Mortgage REIT has a 1 year low of $11.39 and a 1 year 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 earnings per share (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 net margin of 40.44% and a return on equity of 12.02%. analysts anticipate that Ellington Residential Mortgage REIT will post 1.86 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Friday, December 29th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 12.76%. The ex-dividend date of this dividend is Thursday, December 28th. Ellington Residential Mortgage REIT’s payout ratio is currently 138.32%.

A number of research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Ellington Residential Mortgage REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. BidaskClub downgraded shares of Ellington Residential Mortgage REIT from a “sell” rating to a “strong sell” rating in a research report on Friday, November 3rd.

ILLEGAL ACTIVITY NOTICE: “Short Interest in Ellington Residential Mortgage REIT (EARN) Grows By 38.8%” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this news story on another site, it was illegally copied and republished in violation of international copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/17/short-interest-in-ellington-residential-mortgage-reit-earn-grows-by-38-8.html.

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.

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.