Ellington Credit (NYSE:EARN) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in shares of Ellington Credit (NYSE:EARN) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,466 shares of the real estate investment trust’s stock after purchasing an additional 2,895 shares during the period. Thrivent Financial for Lutherans owned 0.31% of Ellington Credit worth $554,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of Ellington Credit in the 3rd quarter worth approximately $468,000. Clear Harbor Asset Management LLC bought a new stake in shares of Ellington Credit in the 3rd quarter worth approximately $1,412,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Ellington Credit by 78.5% in the 2nd quarter. Renaissance Technologies LLC now owns 642,419 shares of the real estate investment trust’s stock worth $4,465,000 after purchasing an additional 282,600 shares in the last quarter. 20.40% of the stock is owned by institutional investors and hedge funds.

Ellington Credit Price Performance

EARN stock opened at $6.79 on Thursday. The business has a fifty day moving average price of $6.72 and a 200 day moving average price of $6.88. Ellington Credit has a fifty-two week low of $5.54 and a fifty-two week high of $7.26. The stock has a market capitalization of $195.55 million, a price-to-earnings ratio of 5.99 and a beta of 1.86.

Ellington Credit (NYSE:EARN) last posted its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $4.75 million for the quarter, compared to analyst estimates of $7.55 million. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. During the same period last year, the company earned $0.21 EPS. On average, equities analysts expect that Ellington Credit will post 1.17 earnings per share for the current fiscal year.

Ellington Credit Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.14%. The ex-dividend date is Friday, November 29th. Ellington Credit’s dividend payout ratio is presently 85.71%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Ellington Credit from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th.

About Ellington Credit

Ellington Credit Company, a real estate investment trust, acquires, invests in, and manages residential mortgage-and real estate-related assets. It acquires and manages residential mortgage-backed securities (RMBS), including agency pools and agency collateralized mortgage obligations (CMOs); and non-agency RMBS, such as non-agency CMOs, such as investment grade and non-investment grade.