Charles Schwab Investment Management Inc. Acquires New Shares in Ellington Credit (NYSE:EARN)

Charles Schwab Investment Management Inc. bought a new stake in Ellington Credit (NYSE:EARN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,423 shares of the real estate investment trust’s stock, valued at approximately $170,000. Charles Schwab Investment Management Inc. owned about 0.10% of Ellington Credit as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of Ellington Credit during the 3rd quarter valued at approximately $468,000. Thrivent Financial for Lutherans lifted its stake in Ellington Credit by 3.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 79,466 shares of the real estate investment trust’s stock valued at $554,000 after purchasing an additional 2,895 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new stake in Ellington Credit in the third quarter valued at approximately $1,412,000. Finally, Renaissance Technologies LLC grew its stake in shares of Ellington Credit by 78.5% during the second 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 during the last quarter. Institutional investors and hedge funds own 20.40% of the company’s stock.

Ellington Credit Price Performance

Shares of NYSE EARN opened at $6.46 on Friday. The company has a 50 day simple moving average of $6.70 and a 200 day simple moving average of $6.86. Ellington Credit has a 1 year low of $5.54 and a 1 year high of $7.26. The firm has a market cap of $186.05 million, a PE ratio of 5.77 and a beta of 1.86.

Ellington Credit (NYSE:EARN) last released its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. The firm had revenue of $4.75 million during the quarter, compared to the consensus estimate of $7.55 million. During the same quarter last year, the firm earned $0.21 earnings per share. As a group, research analysts anticipate that Ellington Credit will post 1.17 earnings per share for the current fiscal year.

Ellington Credit Dividend Announcement

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 14.86%. Ellington Credit’s dividend payout ratio (DPR) is presently 85.71%.

Analyst Ratings Changes

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

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.