Ellington Credit (NYSE:EARN) Holdings Lowered by Truist Financial Corp

Truist Financial Corp lowered its stake in Ellington Credit (NYSE:EARN) by 14.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,085 shares of the real estate investment trust’s stock after selling 1,659 shares during the quarter. Truist Financial Corp’s holdings in Ellington Credit were worth $70,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Inspire Advisors LLC raised its stake in Ellington Credit by 18.1% during the 1st quarter. Inspire Advisors LLC now owns 12,426 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 1,903 shares during the period. Quadrature Capital Ltd raised its position in Ellington Credit by 18.1% during the fourth quarter. Quadrature Capital Ltd now owns 34,843 shares of the real estate investment trust’s stock valued at $214,000 after buying an additional 5,337 shares during the period. Virtu Financial LLC purchased a new stake in Ellington Credit in the 4th quarter worth about $217,000. Finally, Renaissance Technologies LLC boosted its position in Ellington Credit by 78.5% during the 2nd quarter. Renaissance Technologies LLC now owns 642,419 shares of the real estate investment trust’s stock worth $4,465,000 after acquiring an additional 282,600 shares during the period. Institutional investors and hedge funds own 20.40% of the company’s stock.

Ellington Credit Price Performance

NYSE:EARN opened at $7.03 on Monday. The stock has a market cap of $143.94 million, a PE ratio of 24.24 and a beta of 1.87. Ellington Credit has a fifty-two week low of $5.09 and a fifty-two week high of $7.26. The stock’s 50-day moving average is $6.91 and its two-hundred day moving average is $6.93.

Ellington Credit (NYSE:EARN) last announced its quarterly earnings data on Monday, August 12th. The real estate investment trust reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. The company had revenue of $3.90 million for the quarter, compared to analysts’ expectations of $6.35 million. During the same period in the previous year, the firm posted $0.17 earnings per share. On average, equities research analysts anticipate that Ellington Credit will post 1.16 earnings per share for the current year.

Ellington Credit Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 25th. Stockholders of record on Thursday, October 31st will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 13.66%. The ex-dividend date is Thursday, October 31st. Ellington Credit’s dividend payout ratio (DPR) is presently 331.03%.

Ellington Credit 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.