Acadian Asset Management LLC Has $2.83 Million Position in Ellington Residential Mortgage REIT (EARN)

Acadian Asset Management LLC trimmed its position in Ellington Residential Mortgage REIT (NYSE:EARN) by 39.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 250,686 shares of the real estate investment trust’s stock after selling 161,819 shares during the quarter. Acadian Asset Management LLC owned about 1.98% of Ellington Residential Mortgage REIT worth $2,831,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in Ellington Residential Mortgage REIT by 1,393.3% in the 2nd quarter. Bank of America Corp DE now owns 10,035 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 9,363 shares during the period. First Trust Advisors LP bought a new position in Ellington Residential Mortgage REIT in the 2nd quarter worth approximately $121,000. Assetmark Inc. boosted its stake in Ellington Residential Mortgage REIT by 58.2% in the 2nd quarter. Assetmark Inc. now owns 14,274 shares of the real estate investment trust’s stock worth $156,000 after purchasing an additional 5,251 shares during the period. GSA Capital Partners LLP bought a new position in Ellington Residential Mortgage REIT in the 2nd quarter worth approximately $208,000. Finally, LMR Partners LLP bought a new position in Ellington Residential Mortgage REIT in the 2nd quarter worth approximately $274,000. 63.27% of the stock is owned by institutional investors.

EARN stock opened at $10.85 on Friday. Ellington Residential Mortgage REIT has a 1-year low of $10.23 and a 1-year high of $13.14. The company has a market capitalization of $137.18 million, a price-to-earnings ratio of 6.03 and a beta of 0.55.

Ellington Residential Mortgage REIT (NYSE:EARN) last posted its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.05). Ellington Residential Mortgage REIT had a positive return on equity of 10.19% and a negative net margin of 1.77%. The business had revenue of $4.65 million during the quarter. On average, equities analysts anticipate that Ellington Residential Mortgage REIT will post 1.33 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Shareholders of record on Friday, September 28th were paid a $0.37 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.48 annualized dividend and a yield of 13.64%. Ellington Residential Mortgage REIT’s payout ratio is 82.22%.

Several research firms have weighed in on EARN. TheStreet upgraded Ellington Residential Mortgage REIT from a “d+” rating to a “c” rating in a research note on Thursday, August 30th. Zacks Investment Research upgraded Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a research note on Wednesday, September 26th. Finally, ValuEngine upgraded Ellington Residential Mortgage REIT from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 15th.

In other Ellington Residential Mortgage REIT news, major shareholder Holdings L.P. Blackstone III purchased 7,603 shares of the company’s stock in a transaction on Monday, August 20th. The stock was acquired at an average cost of $11.67 per share, for a total transaction of $88,727.01. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders acquired a total of 81,306 shares of company stock valued at $922,161 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

WARNING: “Acadian Asset Management LLC Has $2.83 Million Position in Ellington Residential Mortgage REIT (EARN)” was originally posted by WKRB News and is the property of of WKRB News. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and international trademark & copyright law. The original version of this piece of content can be read at https://www.wkrb13.com/2018/11/11/acadian-asset-management-llc-has-2-83-million-position-in-ellington-residential-mortgage-reit-earn.html.

About Ellington Residential Mortgage REIT

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.

Featured Article: Dow Jones Industrial Average (DJIA)

Want to see what other hedge funds are holding EARN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ellington Residential Mortgage REIT (NYSE:EARN).

Institutional Ownership by Quarter for Ellington Residential Mortgage REIT (NYSE:EARN)

Receive News & Ratings for Ellington Residential Mortgage REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellington Residential Mortgage REIT and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply