Global Retirement Partners LLC Invests $114,000 in Ellington Credit (NYSE:EARN)

Global Retirement Partners LLC purchased a new position in shares of Ellington Credit (NYSE:EARN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,190 shares of the real estate investment trust’s stock, valued at approximately $114,000. Global Retirement Partners LLC owned approximately 0.06% of Ellington Credit as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its holdings in Ellington Credit by 3.8% in the third quarter. Thrivent Financial for Lutherans now owns 79,466 shares of the real estate investment trust’s stock valued at $554,000 after purchasing an additional 2,895 shares during the period. FMR LLC grew its stake in Ellington Credit by 243.2% in the 3rd quarter. FMR LLC now owns 4,839 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 3,429 shares during the period. Mount Yale Investment Advisors LLC purchased a new stake in Ellington Credit in the 4th quarter worth $152,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Ellington Credit during the 3rd quarter worth about $170,000. Finally, Quadrature Capital Ltd purchased a new stake in Ellington Credit during the 3rd quarter worth approximately $220,000. Institutional investors and hedge funds own 20.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Ellington Credit from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th.

Ellington Credit Price Performance

EARN stock opened at $6.54 on Friday. Ellington Credit has a 1 year low of $5.88 and a 1 year high of $7.26. The firm has a market capitalization of $190.67 million, a PE ratio of 5.83 and a beta of 1.85. The business has a 50 day simple moving average of $6.57 and a 200-day simple moving average of $6.72.

Ellington Credit Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, February 28th will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 14.69%. The ex-dividend date of this dividend is Friday, February 28th. Ellington Credit’s payout ratio is currently 85.71%.

Ellington Credit Company Profile

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.