Ellington Residential Mortgage REIT (NYSE:EARN – Get Rating) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.
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A number of other research firms have also recently issued reports on EARN. Credit Suisse Group upped their price target on shares of Ellington Residential Mortgage REIT to $7.50 in a report on Friday, December 2nd. Jonestrading began coverage on shares of Ellington Residential Mortgage REIT in a report on Monday, December 19th. They set a “hold” rating for the company. Finally, Piper Sandler decreased their price target on shares of Ellington Residential Mortgage REIT from $9.50 to $8.00 and set an “overweight” rating for the company in a report on Monday, October 3rd. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.83.
Ellington Residential Mortgage REIT Price Performance
Ellington Residential Mortgage REIT stock opened at $7.85 on Wednesday. The company has a market capitalization of $102.67 million, a price-to-earnings ratio of -2.31 and a beta of 1.70. Ellington Residential Mortgage REIT has a one year low of $5.70 and a one year high of $10.85. The company’s fifty day moving average price is $7.21 and its two-hundred day moving average price is $7.43.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its position in Ellington Residential Mortgage REIT by 6.5% in the first quarter. Envestnet Asset Management Inc. now owns 32,401 shares of the real estate investment trust’s stock worth $327,000 after purchasing an additional 1,965 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Ellington Residential Mortgage REIT by 6.0% during the third quarter. Royal Bank of Canada now owns 49,330 shares of the real estate investment trust’s stock worth $305,000 after buying an additional 2,809 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Ellington Residential Mortgage REIT by 4.1% during the third quarter. Two Sigma Advisers LP now owns 83,400 shares of the real estate investment trust’s stock worth $515,000 after buying an additional 3,300 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of Ellington Residential Mortgage REIT by 10.8% during the third quarter. Penserra Capital Management LLC now owns 40,892 shares of the real estate investment trust’s stock worth $252,000 after buying an additional 4,000 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in shares of Ellington Residential Mortgage REIT by 13.5% during the first quarter. Advisor Group Holdings Inc. now owns 35,111 shares of the real estate investment trust’s stock worth $344,000 after buying an additional 4,182 shares in the last quarter. Institutional investors and hedge funds own 23.88% of the company’s stock.
Ellington Residential Mortgage REIT Company Profile
Ellington Residential Mortgage REIT is a real estate investment trust, which engages in the acquisition, investment, and management of residential mortgage and real estate-related assets. Its portfolio include non-agency and agency residential mortgage-backed securities and acquires other target assets, such as residential whole mortgage loans, commercial mortgage-backed securities, mortgage-related derivatives, and other asset-backed securities.
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