Geode Capital Management LLC Buys 47,998 Shares of Ellington Credit (NYSE:EARN)

Geode Capital Management LLC raised its stake in Ellington Credit (NYSE:EARN) by 21.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,850 shares of the real estate investment trust’s stock after acquiring an additional 47,998 shares during the period. Geode Capital Management LLC owned approximately 1.07% of Ellington Credit worth $1,885,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. FMR LLC increased its stake in Ellington Credit by 243.2% in the third quarter. FMR LLC now owns 4,839 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 3,429 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in shares of Ellington Credit in the 3rd quarter valued at $170,000. Quadrature Capital Ltd bought a new position in shares of Ellington Credit in the 3rd quarter valued at $220,000. Barclays PLC acquired a new position in shares of Ellington Credit during the 3rd quarter worth $334,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Ellington Credit during the 3rd quarter worth $468,000. 20.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Ellington Credit from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th.

Ellington Credit Trading Down 0.8 %

Shares of EARN stock opened at $6.54 on Thursday. The firm has a market capitalization of $190.82 million, a price-to-earnings ratio of 5.84 and a beta of 1.86. The business’s 50-day moving average price is $6.63 and its 200-day moving average price is $6.82. Ellington Credit has a 12 month low of $5.54 and a 12 month high of $7.26.

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

Ellington Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, January 27th. Shareholders of record on Tuesday, December 31st will be given a $0.08 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.68%. Ellington Credit’s dividend payout ratio (DPR) is presently 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.