Barclays PLC Purchases 18,302 Shares of Ellington Credit (NYSE:EARN)

Barclays PLC raised its holdings in shares of Ellington Credit (NYSE:EARN) by 38.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,221 shares of the real estate investment trust’s stock after purchasing an additional 18,302 shares during the period. Barclays PLC’s holdings in Ellington Credit were worth $439,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EARN. Clear Harbor Asset Management LLC increased its stake in shares of Ellington Credit by 16.3% during the fourth quarter. Clear Harbor Asset Management LLC now owns 235,395 shares of the real estate investment trust’s stock valued at $1,558,000 after buying an additional 33,040 shares during the period. Mount Yale Investment Advisors LLC purchased a new position in Ellington Credit during the 4th quarter valued at $152,000. Global Retirement Partners LLC bought a new position in Ellington Credit in the 4th quarter worth $114,000. Bank of New York Mellon Corp purchased a new stake in shares of Ellington Credit in the 4th quarter worth about $955,000. Finally, Naviter Wealth LLC bought a new stake in shares of Ellington Credit during the 4th quarter valued at about $72,000. Hedge funds and other institutional investors own 20.40% of the company’s stock.

Insider Activity

In other news, Portfolio Manager Gregory Morris Borenstein purchased 8,000 shares of Ellington Credit stock in a transaction that occurred on Wednesday, April 9th. The stock was bought at an average price of $4.73 per share, with a total value of $37,840.00. Following the completion of the transaction, the portfolio manager now directly owns 18,000 shares of the company’s stock, valued at approximately $85,140. The trade was a 80.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Ellington Credit Price Performance

NYSE:EARN opened at $5.37 on Friday. The firm has a market capitalization of $201.69 million, a P/E ratio of 4.79 and a beta of 1.31. Ellington Credit has a one year low of $4.33 and a one year high of $7.26. The company’s 50-day simple moving average is $5.48 and its 200 day simple moving average is $6.22.

Ellington Credit (NYSE:EARN) last issued its quarterly earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. The firm had revenue of $6.14 million for the quarter, compared to analysts’ expectations of $9.65 million. On average, equities research analysts expect that Ellington Credit will post 1.17 earnings per share for the current fiscal year.

Ellington Credit Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 17.88%. Ellington Credit’s dividend payout ratio is currently 320.00%.

Wall Street Analyst Weigh In

EARN has been the subject of a number of research reports. Piper Sandler decreased their price target on shares of Ellington Credit from $8.00 to $6.50 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. UBS Group decreased their target price on Ellington Credit from $6.50 to $5.25 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, StockNews.com lowered Ellington Credit from a “hold” rating to a “sell” rating in a research report on Thursday.

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.