Bank of New York Mellon Corp Takes $955,000 Position in Ellington Credit (NYSE:EARN)

Bank of New York Mellon Corp purchased a new stake in shares of Ellington Credit (NYSE:EARN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 144,217 shares of the real estate investment trust’s stock, valued at approximately $955,000. Bank of New York Mellon Corp owned 0.49% of Ellington Credit as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Thrivent Financial for Lutherans grew its stake in shares of Ellington Credit by 3.8% during the third quarter. Thrivent Financial for Lutherans now owns 79,466 shares of the real estate investment trust’s stock worth $554,000 after purchasing an additional 2,895 shares during the period. FMR LLC boosted its holdings in Ellington Credit by 243.2% during 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 during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Ellington Credit during the 4th quarter worth about $114,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Ellington Credit in the 4th quarter valued at about $152,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Ellington Credit in the 3rd quarter valued at approximately $170,000. Institutional investors and hedge funds own 20.40% of the company’s stock.

Ellington Credit Stock Performance

Shares of NYSE EARN opened at $5.87 on Wednesday. Ellington Credit has a 52-week low of $5.68 and a 52-week high of $7.26. The stock has a market cap of $171.27 million, a P/E ratio of 5.24 and a beta of 1.96. The firm has a 50 day moving average price of $6.39 and a 200 day moving average price of $6.61.

Ellington Credit (NYSE:EARN) last announced its quarterly earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. The company had revenue of $6.14 million for the quarter, compared to analysts’ expectations of $9.65 million. Analysts predict that Ellington Credit will post 1.17 earnings per share for the current fiscal year.

Ellington Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be paid a $0.08 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 16.35%. Ellington Credit’s payout ratio is 320.00%.

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.