Ellington Credit (NYSE:EARN) Short Interest Update

Ellington Credit (NYSE:EARN) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 844,500 shares, a growth of 8.7% from the December 15th total of 776,600 shares. Based on an average trading volume of 451,900 shares, the days-to-cover ratio is presently 1.9 days.

Ellington Credit Stock Up 0.4 %

EARN stock opened at $6.61 on Tuesday. Ellington Credit has a twelve month low of $5.54 and a twelve month high of $7.26. The company has a market cap of $193.00 million, a PE ratio of 5.91 and a beta of 1.86. The business’s 50-day simple moving average is $6.64 and its 200 day simple moving average is $6.80.

Ellington Credit (NYSE:EARN) last announced its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The company 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 quarter last year, the firm earned $0.21 EPS. On average, equities research analysts anticipate that Ellington Credit will post 1.17 EPS for the current year.

Ellington Credit Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, January 31st will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 14.51%. The ex-dividend date of this dividend is Friday, January 31st. Ellington Credit’s dividend payout ratio (DPR) is presently 85.71%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Ellington Credit

Hedge funds have recently made changes to their positions in the business. 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 buying an additional 282,600 shares in the last quarter. Clear Harbor Asset Management LLC bought a new stake in Ellington Credit in the third quarter valued at $1,412,000. International Assets Investment Management LLC acquired a new position in Ellington Credit during the third quarter worth $468,000. Geode Capital Management LLC lifted its holdings in shares of Ellington Credit by 21.6% during the third quarter. Geode Capital Management LLC now owns 269,850 shares of the real estate investment trust’s stock valued at $1,885,000 after acquiring an additional 47,998 shares during the period. Finally, Barclays PLC acquired a new stake in shares of Ellington Credit in the 3rd quarter valued at $334,000. Institutional investors and hedge funds own 20.40% of the company’s stock.

Ellington Credit Company Profile

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.