Ellington Credit (NYSE:EARN) Share Price Passes Below 200 Day Moving Average of $6.81

Ellington Credit (NYSE:EARN)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.81 and traded as low as $6.80. Ellington Credit shares last traded at $6.82, with a volume of 306,842 shares.

Ellington Credit Price Performance

The company has a 50 day moving average price of $6.94 and a 200-day moving average price of $6.81. The stock has a market capitalization of $139.43 million, a PE ratio of 23.48 and a beta of 1.87.

Ellington Credit (NYSE:EARN) last announced its earnings results on Monday, August 12th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. The company had revenue of $3.90 million for the quarter, compared to the consensus estimate of $6.35 million. During the same period in the previous year, the firm posted $0.17 EPS. As a group, equities analysts anticipate that Ellington Credit will post 1.16 earnings per share for the current year.

Ellington Credit Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, August 30th will be paid a $0.08 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.96 annualized dividend and a dividend yield of 14.10%. Ellington Credit’s payout ratio is 331.03%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Inspire Advisors LLC boosted its stake in Ellington Credit by 18.1% during the 1st quarter. Inspire Advisors LLC now owns 12,426 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 1,903 shares during the last quarter. Jump Financial LLC bought a new position in Ellington Credit during the 4th quarter valued at about $171,000. Quadrature Capital Ltd boosted its holdings in shares of Ellington Credit by 18.1% during the 4th quarter. Quadrature Capital Ltd now owns 34,843 shares of the real estate investment trust’s stock valued at $214,000 after acquiring an additional 5,337 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Ellington Credit in the fourth quarter worth approximately $217,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Ellington Credit during the fourth quarter valued at approximately $3,610,000. Institutional investors own 20.40% of the company’s stock.

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.