Wolverine Asset Management LLC Acquires 16,532 Shares of Ellington Residential Mortgage REIT (NYSE:EARN)

Wolverine Asset Management LLC grew its position in shares of Ellington Residential Mortgage REIT (NYSE:EARN) by 21.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 92,527 shares of the real estate investment trust’s stock after purchasing an additional 16,532 shares during the quarter. Wolverine Asset Management LLC’s holdings in Ellington Residential Mortgage REIT were worth $567,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in Ellington Residential Mortgage REIT during the 4th quarter worth approximately $3,610,000. Quadrature Capital Ltd acquired a new stake in shares of Ellington Residential Mortgage REIT during the 3rd quarter worth approximately $184,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Ellington Residential Mortgage REIT during the 3rd quarter worth approximately $392,000. Institutional investors own 20.40% of the company’s stock.

Ellington Residential Mortgage REIT Price Performance

EARN opened at $6.76 on Friday. The company has a market capitalization of $133.98 million, a price-to-earnings ratio of 26.00 and a beta of 1.87. The firm’s fifty day moving average price is $6.49 and its two-hundred day moving average price is $6.13. Ellington Residential Mortgage REIT has a 1 year low of $5.09 and a 1 year high of $7.64.

Ellington Residential Mortgage REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 14.20%. The ex-dividend date of this dividend is Monday, April 29th. Ellington Residential Mortgage REIT’s dividend payout ratio is 369.24%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com raised shares of Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th. JMP Securities reaffirmed a “market perform” rating on shares of Ellington Residential Mortgage REIT in a report on Thursday, April 18th.

Ellington Residential Mortgage REIT Profile

Ellington Residential Mortgage REIT, a real estate investment trust, acquires, invests in, and manages 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, such as non-agency CMOs, such as investment grade and non-investment grade.