Clear Harbor Asset Management LLC Has $1.56 Million Stake in Ellington Credit (NYSE:EARN)

Clear Harbor Asset Management LLC increased its position in shares of Ellington Credit (NYSE:EARN) by 16.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 235,395 shares of the real estate investment trust’s stock after acquiring an additional 33,040 shares during the quarter. Clear Harbor Asset Management LLC owned about 0.81% of Ellington Credit worth $1,558,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EARN. Thrivent Financial for Lutherans raised its holdings in shares of 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 last quarter. FMR LLC increased its holdings in shares of Ellington Credit by 243.2% during the 3rd quarter. FMR LLC now owns 4,839 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 3,429 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new stake in Ellington Credit in the 3rd quarter valued at $170,000. Quadrature Capital Ltd acquired a new stake in Ellington Credit during the 3rd quarter valued at $220,000. Finally, Barclays PLC acquired a new stake in shares of Ellington Credit during the 3rd quarter worth about $334,000. Institutional investors and hedge funds own 20.40% of the company’s stock.

Analyst Ratings Changes

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

Ellington Credit Price Performance

Ellington Credit stock opened at $6.61 on Tuesday. Ellington Credit has a one year low of $5.54 and a one year high of $7.26. The firm has a market cap of $193.00 million, a PE ratio of 5.91 and a beta of 1.86. The stock’s fifty day moving average price is $6.64 and its two-hundred day moving average price is $6.80.

Ellington Credit (NYSE:EARN) last released its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $4.75 million for the quarter, compared to analyst estimates of $7.55 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. During the same period last year, the firm earned $0.21 EPS. Sell-side analysts expect that Ellington Credit will post 1.17 earnings per share for the current fiscal year.

Ellington Credit Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 25th. Investors of record on Friday, January 31st will be given a dividend of $0.08 per share. The ex-dividend date is Friday, January 31st. This represents a $0.96 annualized dividend and a dividend yield of 14.51%. Ellington Credit’s dividend payout ratio is currently 85.71%.

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.