International Assets Investment Management LLC Takes Position in Ellington Credit (NYSE:EARN)

International Assets Investment Management LLC acquired a new stake in Ellington Credit (NYSE:EARN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 67,008 shares of the real estate investment trust’s stock, valued at approximately $468,000.

Separately, Renaissance Technologies LLC increased its position in shares of Ellington Credit by 78.5% in the second quarter. Renaissance Technologies LLC now owns 642,419 shares of the real estate investment trust’s stock valued at $4,465,000 after buying an additional 282,600 shares in the last quarter. 20.40% of the stock is currently owned by hedge funds and other institutional investors.

Ellington Credit Price Performance

Ellington Credit stock opened at $6.51 on Wednesday. The stock has a market capitalization of $164.90 million, a PE ratio of 40.69 and a beta of 1.87. Ellington Credit has a 12 month low of $5.42 and a 12 month high of $7.26. The business has a 50 day simple moving average of $6.87 and a 200-day simple moving average of $6.93.

Ellington Credit (NYSE:EARN) last posted its quarterly earnings data on Monday, August 12th. The real estate investment trust reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. The business had revenue of $3.90 million during the quarter, compared to analysts’ expectations of $6.35 million. During the same quarter last year, the firm earned $0.17 earnings per share. On average, equities research analysts anticipate that Ellington Credit will post 1.16 EPS for the current fiscal year.

Ellington Credit Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 25th. Investors of record on Thursday, October 31st will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 14.75%. The ex-dividend date is Thursday, October 31st. Ellington Credit’s payout ratio is 600.04%.

Ellington Credit 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.