Clear Harbor Asset Management LLC Has $1.56 Million Stake in Ellington Credit (NYSE:EARN)

Clear Harbor Asset Management LLC boosted its position in Ellington Credit (NYSE:EARN) by 16.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 235,395 shares of the real estate investment trust’s stock after purchasing an additional 33,040 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Ellington Credit were worth $1,558,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in shares of Ellington Credit by 78.5% during the second quarter. Renaissance Technologies LLC now owns 642,419 shares of the real estate investment trust’s stock worth $4,465,000 after acquiring an additional 282,600 shares during the last quarter. International Assets Investment Management LLC bought a new position in Ellington Credit during the 3rd quarter worth approximately $468,000. Thrivent Financial for Lutherans lifted its position in shares of Ellington Credit by 3.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 79,466 shares of the real estate investment trust’s stock worth $554,000 after purchasing an additional 2,895 shares during the period. Charles Schwab Investment Management Inc. bought a new stake in shares of Ellington Credit in the 3rd quarter valued at $170,000. Finally, FMR LLC increased its position in shares of Ellington Credit by 243.2% during the third quarter. FMR LLC now owns 4,839 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 3,429 shares during the period. 20.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Ellington Credit from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

Ellington Credit Price Performance

Shares of Ellington Credit stock opened at $6.61 on Tuesday. The stock’s 50-day moving average is $6.64 and its 200 day moving average is $6.80. Ellington Credit has a one year low of $5.54 and a one year high of $7.26. The firm has a market cap of $193.00 million, a price-to-earnings ratio of 5.91 and a beta of 1.86.

Ellington Credit (NYSE:EARN) last posted its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $4.75 million for the quarter, compared to analysts’ expectations of $7.55 million. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. During the same period in the prior year, the business earned $0.21 EPS. On average, sell-side analysts expect that Ellington Credit will post 1.17 EPS for the current fiscal year.

Ellington Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, January 31st will be paid a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 14.51%. The ex-dividend date of this dividend is Friday, January 31st. Ellington Credit’s dividend payout ratio (DPR) is currently 85.71%.

About Ellington Credit

Ellington Credit Company, 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.