Naviter Wealth LLC Buys Shares of 10,789 Ellington Credit (NYSE:EARN)

Naviter Wealth LLC bought a new position in shares of Ellington Credit (NYSE:EARN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,789 shares of the real estate investment trust’s stock, valued at approximately $72,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Geode Capital Management LLC lifted its position in shares of Ellington Credit by 21.6% in the third quarter. Geode Capital Management LLC now owns 269,850 shares of the real estate investment trust’s stock valued at $1,885,000 after acquiring an additional 47,998 shares in the last quarter. Clear Harbor Asset Management LLC lifted its holdings in Ellington Credit by 16.3% in the 4th quarter. Clear Harbor Asset Management LLC now owns 235,395 shares of the real estate investment trust’s stock valued at $1,558,000 after purchasing an additional 33,040 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Ellington Credit during the 4th quarter worth about $955,000. Thrivent Financial for Lutherans grew its holdings in shares of Ellington Credit by 3.8% during the third quarter. Thrivent Financial for Lutherans now owns 79,466 shares of the real estate investment trust’s stock worth $554,000 after buying an additional 2,895 shares in the last quarter. Finally, Barclays PLC purchased a new stake in shares of Ellington Credit during the third quarter worth about $334,000. Hedge funds and other institutional investors own 20.40% of the company’s stock.

Ellington Credit Stock Up 0.5 %

Shares of NYSE:EARN opened at $6.43 on Monday. The company has a market cap of $187.46 million, a P/E ratio of 5.74 and a beta of 1.96. The business has a fifty day simple moving average of $6.55 and a 200-day simple moving average of $6.70. Ellington Credit has a 52 week low of $6.19 and a 52 week high of $7.26.

Ellington Credit Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.94%. The ex-dividend date of this dividend is Monday, March 31st. Ellington Credit’s dividend payout ratio is currently 85.71%.

Wall Street Analysts Forecast Growth

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

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.