Barclays PLC Takes $334,000 Position in Ellington Credit (NYSE:EARN)

Barclays PLC purchased a new position in Ellington Credit (NYSE:EARN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 47,919 shares of the real estate investment trust’s stock, valued at approximately $334,000. Barclays PLC owned approximately 0.19% of Ellington Credit at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its stake in shares of Ellington Credit by 243.2% in the third quarter. FMR LLC now owns 4,839 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 3,429 shares in the last quarter. Charles Schwab Investment Management Inc. purchased a new position in shares of Ellington Credit in the third quarter worth about $170,000. Quadrature Capital Ltd purchased a new position in shares of Ellington Credit in the third quarter worth about $220,000. International Assets Investment Management LLC purchased a new position in shares of Ellington Credit in the third quarter worth about $468,000. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Ellington Credit by 3.8% in the third quarter. Thrivent Financial for Lutherans now owns 79,466 shares of the real estate investment trust’s stock worth $554,000 after buying an additional 2,895 shares in the last quarter. 20.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Ellington Credit Price Performance

Shares of EARN stock opened at $6.82 on Friday. The firm’s 50-day moving average is $6.64 and its two-hundred day moving average is $6.83. Ellington Credit has a 12 month low of $5.54 and a 12 month high of $7.26. The company has a market capitalization of $198.99 million, a PE ratio of 6.09 and a beta of 1.86.

Ellington Credit (NYSE:EARN) last issued its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $4.75 million for the quarter, compared to the consensus estimate of $7.55 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. During the same period in the previous year, the firm earned $0.21 earnings per share. Sell-side analysts forecast that Ellington Credit will post 1.17 EPS for the current year.

Ellington Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, January 27th. Stockholders of record on Tuesday, December 31st will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.08%. The ex-dividend date of this dividend is Tuesday, December 31st. Ellington Credit’s dividend payout ratio (DPR) is 85.71%.

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.