Ellington Credit (NYSE:EARN) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its position in shares of Ellington Credit (NYSE:EARN) by 35.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,955 shares of the real estate investment trust’s stock after purchasing an additional 51,345 shares during the period. Arrowstreet Capital Limited Partnership owned 0.67% of Ellington Credit worth $1,297,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in Ellington Credit in the 4th quarter worth about $30,000. FMR LLC increased its stake in shares of Ellington Credit by 243.2% in the third quarter. FMR LLC now owns 4,839 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 3,429 shares during the period. Naviter Wealth LLC acquired a new stake in Ellington Credit in the 4th quarter worth $72,000. Inspire Advisors LLC bought a new stake in shares of Ellington Credit in the fourth quarter valued at about $98,000. Finally, Plancorp LLC acquired a new position in shares of Ellington Credit in the fourth quarter valued at $100,000. Institutional investors own 20.40% of the company’s stock.

Ellington Credit Stock Up 4.3 %

Shares of EARN stock opened at $4.78 on Friday. The stock has a 50-day moving average price of $5.93 and a 200 day moving average price of $6.42. Ellington Credit has a 12 month low of $4.33 and a 12 month high of $7.26. The firm has a market cap of $179.34 million, a price-to-earnings ratio of 4.26 and a beta of 1.74.

Ellington Credit (NYSE:EARN) last issued its quarterly earnings data on Wednesday, March 12th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. The business had revenue of $6.14 million during the quarter, compared to analyst estimates of $9.65 million. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. Sell-side analysts predict that Ellington Credit will post 1.17 earnings per share for the current fiscal year.

Ellington Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, May 27th. Investors of record on Wednesday, April 30th will be given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 20.10%. The ex-dividend date of this dividend is Wednesday, April 30th. Ellington Credit’s dividend payout ratio is currently 320.00%.

Insider Activity at Ellington Credit

In other news, Portfolio Manager Gregory Morris Borenstein purchased 8,000 shares of the business’s stock in a transaction dated Wednesday, April 9th. The shares were purchased at an average cost of $4.73 per share, with a total value of $37,840.00. Following the completion of the purchase, the portfolio manager now owns 18,000 shares of the company’s stock, valued at $85,140. This trade represents a 80.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their price target on shares of Ellington Credit from $8.00 to $6.50 and set an “overweight” rating for the company in a report on Tuesday.

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.