Ellington Credit (NYSE:EARN) Short Interest Update

Ellington Credit (NYSE:EARN) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 535,400 shares, a growth of 22.7% from the October 15th total of 436,300 shares. Based on an average daily volume of 394,900 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Investors Weigh In On Ellington Credit

Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in shares of Ellington Credit by 78.5% in the 2nd quarter. Renaissance Technologies LLC now owns 642,419 shares of the real estate investment trust’s stock valued at $4,465,000 after acquiring an additional 282,600 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new position in Ellington Credit during the third quarter valued at $1,412,000. International Assets Investment Management LLC purchased a new stake in Ellington Credit in the third quarter valued at $468,000. Geode Capital Management LLC grew its position in Ellington Credit by 21.6% during the 3rd quarter. Geode Capital Management LLC now owns 269,850 shares of the real estate investment trust’s stock worth $1,885,000 after purchasing an additional 47,998 shares during the period. Finally, Barclays PLC purchased a new position in shares of Ellington Credit during the 3rd quarter valued at about $334,000. Hedge funds and other institutional investors own 20.40% of the company’s stock.

Ellington Credit Stock Up 2.1 %

Shares of Ellington Credit stock traded up $0.13 during trading on Friday, reaching $6.46. 688,635 shares of the stock were exchanged, compared to its average volume of 462,239. The firm has a market cap of $163.63 million, a price-to-earnings ratio of 5.77 and a beta of 1.87. Ellington Credit has a 1 year low of $5.54 and a 1 year high of $7.26. The stock’s fifty day moving average is $6.79 and its 200 day moving average is $6.91.

Ellington Credit (NYSE:EARN) last released its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Ellington Credit had a return on equity of 17.20% and a net margin of 226.01%. The company had revenue of $4.75 million for the quarter, compared to the consensus estimate of $7.55 million. During the same period in the previous year, the business earned $0.21 earnings per share. Equities analysts forecast that Ellington Credit will post 1.16 earnings per share for the current year.

Ellington Credit Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 14.86%. Ellington Credit’s payout ratio is 85.71%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Ellington Credit from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th.

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.