Ellington Residential Mortgage REIT (EARN) Expected to Announce Earnings of $0.47 Per Share

Equities research analysts forecast that Ellington Residential Mortgage REIT (NYSE:EARN) will announce $0.47 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Ellington Residential Mortgage REIT’s earnings. Ellington Residential Mortgage REIT reported earnings per share of $0.48 during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.1%. The firm is scheduled to announce its next earnings results on Tuesday, August 1st.

On average, analysts expect that Ellington Residential Mortgage REIT will report full year earnings of $1.84 per share for the current fiscal year. For the next year, analysts anticipate that the company will post earnings of $1.50 per share. Zacks’ earnings per share averages are an average based on a survey of analysts that follow Ellington Residential Mortgage REIT.

Ellington Residential Mortgage REIT (NYSE:EARN) last released its earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.04. The company had revenue of $9.15 million for the quarter. Ellington Residential Mortgage REIT had a return on equity of 12.68% and a net margin of 55.08%.

Separately, Zacks Investment Research raised Ellington Residential Mortgage REIT from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Monday, May 8th.

Shares of Ellington Residential Mortgage REIT (NYSE EARN) traded up 2.76% during midday trading on Thursday, reaching $15.65. The company had a trading volume of 1,205,078 shares. Ellington Residential Mortgage REIT has a 1-year low of $12.21 and a 1-year high of $15.74. The stock has a market capitalization of $142.88 million, a PE ratio of 10.06 and a beta of 0.64. The company’s 50-day moving average is $14.73 and its 200-day moving average is $14.17.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 10.22%. The ex-dividend date of this dividend is Wednesday, June 28th. Ellington Residential Mortgage REIT’s dividend payout ratio is 103.23%.

A number of hedge funds and other institutional investors have recently bought and sold shares of EARN. JPMorgan Chase & Co. increased its position in Ellington Residential Mortgage REIT by 639.1% in the first quarter. JPMorgan Chase & Co. now owns 7,539 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 6,519 shares in the last quarter. BB&T Securities LLC increased its position in Ellington Residential Mortgage REIT by 1.6% in the first quarter. BB&T Securities LLC now owns 10,235 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 160 shares in the last quarter. Wells Fargo & Company MN increased its position in Ellington Residential Mortgage REIT by 894.5% in the first quarter. Wells Fargo & Company MN now owns 12,938 shares of the real estate investment trust’s stock worth $190,000 after buying an additional 11,637 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Ellington Residential Mortgage REIT during the first quarter worth $199,000. Finally, Hillsdale Investment Management Inc. purchased a new position in Ellington Residential Mortgage REIT during the first quarter worth $243,000. 48.26% of the stock is currently owned by institutional investors.

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Ellington Residential Mortgage REIT Company Profile

Ellington Residential Mortgage REIT is a real estate investment trust. The Company conducts its business through its subsidiaries, EARN OP GP LLC and Ellington Residential Mortgage LP (the Operating Partnership). It specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets.

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