Mackenzie Financial Corp grew its position in shares of Ellington Residential Mortgage REIT (NYSE:EARN) by 42.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,577 shares of the real estate investment trust’s stock after purchasing an additional 19,544 shares during the quarter. Mackenzie Financial Corp’s holdings in Ellington Residential Mortgage REIT were worth $790,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of EARN. SG Americas Securities LLC purchased a new position in shares of Ellington Residential Mortgage REIT during the third quarter worth about $109,000. New York State Common Retirement Fund purchased a new position in shares of Ellington Residential Mortgage REIT during the second quarter worth about $130,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Ellington Residential Mortgage REIT during the second quarter worth about $209,000. Teachers Advisors LLC purchased a new position in shares of Ellington Residential Mortgage REIT during the second quarter worth about $214,000. Finally, California State Teachers Retirement System purchased a new position in shares of Ellington Residential Mortgage REIT during the second quarter worth about $216,000. 68.39% of the stock is currently owned by institutional investors.
In other Ellington Residential Mortgage REIT news, major shareholder Holdings L.P. Blackstone III acquired 10,855 shares of the stock in a transaction on Thursday, March 8th. The shares were bought at an average price of $11.01 per share, with a total value of $119,513.55. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 2.70% of the stock is currently owned by insiders.
Ellington Residential Mortgage REIT (NYSE:EARN) opened at $11.20 on Monday. Ellington Residential Mortgage REIT has a twelve month low of $10.23 and a twelve month high of $15.74. The stock has a market capitalization of $149.41, a PE ratio of 6.12 and a beta of 0.46.
Ellington Residential Mortgage REIT (NYSE:EARN) last released its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.03). Ellington Residential Mortgage REIT had a return on equity of 12.07% and a net margin of 35.79%. The company had revenue of $6.98 million for the quarter. analysts anticipate that Ellington Residential Mortgage REIT will post 1.47 earnings per share for the current fiscal year.
Ellington Residential Mortgage REIT announced that its Board of Directors has authorized a share buyback plan on Thursday, February 8th that allows the company to repurchase 1,200,000 outstanding shares. This repurchase authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, March 29th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 13.21%. The ex-dividend date of this dividend is Wednesday, March 28th. Ellington Residential Mortgage REIT’s dividend payout ratio is currently 162.64%.
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About Ellington Residential Mortgage REIT
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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