Ellington Residential (EARN) Major Shareholder Buys $134,095.34 in Stock

Ellington Residential (NYSE:EARN) major shareholder Holdings L.P. Blackstone III bought 11,909 shares of Ellington Residential stock in a transaction that occurred on Monday, May 14th. The stock was purchased at an average cost of $11.26 per share, for a total transaction of $134,095.34. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Holdings L.P. Blackstone III also recently made the following trade(s):

  • On Friday, May 11th, Holdings L.P. Blackstone III bought 19,475 shares of Ellington Residential stock. The stock was purchased at an average cost of $11.11 per share, for a total transaction of $216,367.25.
  • On Friday, March 16th, Holdings L.P. Blackstone III bought 13,978 shares of Ellington Residential stock. The stock was purchased at an average cost of $11.42 per share, for a total transaction of $159,628.76.
  • On Monday, March 12th, Holdings L.P. Blackstone III bought 7,841 shares of Ellington Residential stock. The stock was purchased at an average cost of $11.43 per share, for a total transaction of $89,622.63.
  • On Thursday, March 8th, Holdings L.P. Blackstone III bought 10,855 shares of Ellington Residential stock. The stock was purchased at an average cost of $11.01 per share, for a total transaction of $119,513.55.
  • On Tuesday, March 6th, Holdings L.P. Blackstone III bought 18,002 shares of Ellington Residential stock. The stock was purchased at an average cost of $10.81 per share, for a total transaction of $194,601.62.

EARN stock opened at $11.14 on Friday. Ellington Residential has a twelve month low of $11.18 and a twelve month high of $11.23. The company has a market cap of $142.25 million, a price-to-earnings ratio of 6.19 and a beta of 0.39.

Ellington Residential (NYSE:EARN) last released its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). Ellington Residential had a return on equity of 10.93% and a net margin of 17.60%. The company had revenue of $6.18 million for the quarter. sell-side analysts expect that Ellington Residential will post 1.4 EPS for the current year.

Ellington Residential announced that its board has authorized a share repurchase program on Thursday, February 8th that authorizes the company to buyback 1,200,000 outstanding shares. This buyback authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 25th. Shareholders of record on Thursday, March 29th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $1.48 dividend on an annualized basis and a yield of 13.29%. Ellington Residential’s payout ratio is currently 82.22%.

A number of hedge funds have recently added to or reduced their stakes in EARN. Wells Fargo & Company MN raised its holdings in Ellington Residential by 385.3% during 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. The Manufacturers Life Insurance Company raised its holdings in Ellington Residential by 29.2% during 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. Jefferies Group LLC raised its holdings in Ellington Residential by 128.3% during the fourth quarter. Jefferies Group LLC now owns 28,115 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 15,802 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Ellington Residential by 262.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 28,916 shares of the real estate investment trust’s stock worth $348,000 after purchasing an additional 20,935 shares in the last quarter. Finally, BB&T Securities LLC raised its holdings in Ellington Residential by 33.1% during the first quarter. BB&T Securities LLC now owns 37,175 shares of the real estate investment trust’s stock worth $407,000 after purchasing an additional 9,250 shares in the last quarter. 68.61% of the stock is currently owned by institutional investors.

Several brokerages recently weighed in on EARN. ValuEngine cut shares of Ellington Residential from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. TheStreet cut shares of Ellington Residential from a “c” rating to a “d+” rating in a report on Friday, February 9th. Finally, Zacks Investment Research cut shares of Ellington Residential from a “hold” rating to a “sell” rating in a report on Wednesday, February 14th. Three analysts have rated the stock with a sell rating and one has given a hold rating to the company. The stock currently has an average rating of “Sell” and a consensus price target of $15.00.

Ellington Residential Company 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.

Insider Buying and Selling by Quarter for Ellington Residential (NYSE:EARN)

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