BlackRock Inc. decreased its holdings in Ellington Residential (NYSE:EARN) by 1.5% in the 4th quarter, HoldingsChannel reports. The firm owned 686,159 shares of the real estate investment trust’s stock after selling 10,324 shares during the quarter. BlackRock Inc. owned approximately 0.05% of Ellington Residential worth $8,261,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake in shares of Ellington Residential by 29.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 24,778 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 5,607 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Ellington Residential in the third quarter worth $109,000. California State Teachers Retirement System bought a new position in shares of Ellington Residential in the second quarter worth $216,000. Wells Fargo & Company MN grew its stake in shares of Ellington Residential by 385.3% in the fourth quarter. Wells Fargo & Company MN now owns 22,616 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 17,956 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Ellington Residential by 7.1% in the third quarter. JPMorgan Chase & Co. now owns 342,740 shares of the real estate investment trust’s stock worth $4,953,000 after purchasing an additional 22,782 shares in the last quarter. 66.90% of the stock is owned by institutional investors.
In other news, major shareholder Holdings L.P. Blackstone III bought 18,002 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The stock was acquired at an average price of $10.81 per share, with a total value of $194,601.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 50,676 shares of company stock valued at $563,367 in the last ninety days. Company insiders own 2.00% of the company’s stock.
Shares of EARN stock opened at $11.40 on Friday. Ellington Residential has a fifty-two week low of $10.23 and a fifty-two week high of $15.74. The stock has a market cap of $149.14, a P/E ratio of 6.33 and a beta of 0.39.
Ellington Residential (NYSE:EARN) last announced its earnings results on Thursday, February 8th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.03). Ellington Residential had a net margin of 35.79% and a return on equity of 11.73%. The firm had revenue of $6.98 million for the quarter. equities analysts forecast that Ellington Residential will post 1.47 EPS for the current fiscal year.
Ellington Residential announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 8th that authorizes the company to buyback 1,200,000 shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 25th. Investors of record on Thursday, March 29th were paid a dividend of $0.37 per share. The ex-dividend date was Wednesday, March 28th. This represents a $1.48 annualized dividend and a yield of 12.98%. Ellington Residential’s dividend payout ratio is currently 82.22%.
Ellington Residential Profile
Ellington Residential Mortgage REIT, a real estate investment trust, specializes in acquiring, investing in, and managing 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 comprising non-agency CMOs, such as investment grade and non-investment grade.
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