Ellington Credit Company (NYSE:EARN) Sees Large Decrease in Short Interest

Ellington Credit Company (NYSE:EARN) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 240,468 shares, a decrease of 51.5% from the December 15th total of 495,448 shares. Based on an average trading volume of 327,018 shares, the short-interest ratio is presently 0.7 days. Approximately 0.6% of the shares of the stock are short sold. Approximately 0.6% of the shares of the stock are short sold. Based on an average trading volume of 327,018 shares, the short-interest ratio is presently 0.7 days.

Institutional Investors Weigh In On Ellington Credit

Several large investors have recently made changes to their positions in EARN. Millennium Management LLC increased its position in shares of Ellington Credit by 485.8% in the first quarter. Millennium Management LLC now owns 932,326 shares of the real estate investment trust’s stock valued at $5,044,000 after acquiring an additional 773,169 shares during the last quarter. Delphi Financial Group Inc. grew its stake in Ellington Credit by 230.8% in the second quarter. Delphi Financial Group Inc. now owns 608,700 shares of the real estate investment trust’s stock valued at $3,500,000 after purchasing an additional 424,700 shares in the last quarter. Jane Street Group LLC increased its position in shares of Ellington Credit by 415.4% during the 1st quarter. Jane Street Group LLC now owns 379,906 shares of the real estate investment trust’s stock worth $2,055,000 after purchasing an additional 306,192 shares during the last quarter. Clear Harbor Asset Management LLC raised its stake in shares of Ellington Credit by 21.6% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 350,500 shares of the real estate investment trust’s stock worth $2,015,000 after purchasing an additional 62,200 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Ellington Credit by 56.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 126,864 shares of the real estate investment trust’s stock valued at $686,000 after buying an additional 45,845 shares during the last quarter. Institutional investors own 20.40% of the company’s stock.

Ellington Credit Trading Down 0.8%

Shares of NYSE:EARN traded down $0.05 during mid-day trading on Wednesday, reaching $5.43. The stock had a trading volume of 431,240 shares, compared to its average volume of 339,037. The firm has a 50 day simple moving average of $5.29 and a two-hundred day simple moving average of $5.50. Ellington Credit has a twelve month low of $4.32 and a twelve month high of $6.82. The firm has a market cap of $203.76 million, a PE ratio of 67.82 and a beta of 1.28.

Ellington Credit (NYSE:EARN) last issued its earnings results on Wednesday, November 19th. The real estate investment trust reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Ellington Credit had a net margin of 12.41% and a return on equity of 16.47%. The firm had revenue of $11.88 million during the quarter, compared to the consensus estimate of $11.41 million. On average, equities analysts anticipate that Ellington Credit will post 1.17 EPS for the current fiscal year.

Ellington Credit Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 30th will be issued a dividend of $0.08 per share. This represents a c) annualized dividend and a yield of 17.7%. The ex-dividend date is Friday, January 30th. Ellington Credit’s dividend payout ratio (DPR) is 1,200.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wall Street Zen raised Ellington Credit from a “sell” rating to a “hold” rating in a report on Tuesday, November 11th. UBS Group set a $6.00 price objective on Ellington Credit in a research note on Tuesday, December 23rd. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ellington Credit currently has an average rating of “Moderate Buy” and an average target price of $6.25.

Ellington Credit Company Profile

Ellington Credit Income Fund (NYSE: EARN) is a closed-end management investment company that seeks to generate current income through a diversified portfolio of mortgage- and asset-backed securities. The fund primarily invests in residential mortgage-backed securities (RMBS) and asset-backed securities (ABS), with additional exposure to commercial mortgage-backed securities (CMBS) and related structured credit instruments. To enhance income and manage risk, the fund employs leverage and derivative strategies such as interest rate swaps and credit default swaps, allowing it to adjust duration and credit exposure dynamically.

The fund is externally managed and advised by Ellington Management Group, LLC, an established investment firm specializing in mortgage credit and structured products.