Insider Buying: Ellington Residential Mortgage REIT (EARN) Major Shareholder Purchases 13,978 Shares of Stock

Ellington Residential Mortgage REIT (NYSE:EARN) major shareholder Holdings L.P. Blackstone III purchased 13,978 shares of the firm’s stock in a transaction on Friday, March 16th. The stock was bought at an average price of $11.42 per share, for a total transaction of $159,628.76. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Holdings L.P. Blackstone III also recently made the following trade(s):

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  • On Monday, March 12th, Holdings L.P. Blackstone III purchased 7,841 shares of Ellington Residential Mortgage REIT stock. The stock was bought at an average price of $11.43 per share, for a total transaction of $89,622.63.
  • On Thursday, March 8th, Holdings L.P. Blackstone III purchased 10,855 shares of Ellington Residential Mortgage REIT stock. The stock was bought at an average price of $11.01 per share, for a total transaction of $119,513.55.
  • On Tuesday, March 6th, Holdings L.P. Blackstone III purchased 18,002 shares of Ellington Residential Mortgage REIT stock. The stock was bought at an average price of $10.81 per share, for a total transaction of $194,601.62.

Ellington Residential Mortgage REIT stock traded down $0.03 during trading hours on Monday, hitting $11.40. 165,919 shares of the company traded hands, compared to its average volume of 122,689. The firm has a market cap of $152.48, a price-to-earnings ratio of 12.53 and a beta of 0.46. Ellington Residential Mortgage REIT has a 1-year low of $10.23 and a 1-year high of $15.74.

Ellington Residential Mortgage REIT (NYSE:EARN) last posted its earnings results on Thursday, February 8th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.03). The business had revenue of $6.98 million for the quarter. Ellington Residential Mortgage REIT had a net margin of 35.79% and a return on equity of 11.73%. analysts forecast that Ellington Residential Mortgage REIT will post 1.47 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, March 29th will be issued a dividend of $0.37 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.48 annualized dividend and a dividend yield of 12.98%. Ellington Residential Mortgage REIT’s payout ratio is 162.64%.

Ellington Residential Mortgage REIT declared that its board has authorized a stock buyback plan on Thursday, February 8th that allows the company to buyback 1,200,000 outstanding shares. This buyback authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Large investors have recently bought and sold shares of the stock. California Public Employees Retirement System increased its stake in Ellington Residential Mortgage REIT by 4.0% during the 2nd quarter. California Public Employees Retirement System now owns 41,700 shares of the real estate investment trust’s stock worth $611,000 after buying an additional 1,600 shares during the period. BB&T Securities LLC increased its stake in Ellington Residential Mortgage REIT by 16.3% during the 3rd quarter. BB&T Securities LLC now owns 29,925 shares of the real estate investment trust’s stock worth $434,000 after buying an additional 4,200 shares during the period. The Manufacturers Life Insurance Company increased its stake in Ellington Residential Mortgage REIT by 29.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 24,778 shares of the real estate investment trust’s stock worth $299,000 after buying an additional 5,607 shares during the period. Mackenzie Financial Corp increased its stake in Ellington Residential Mortgage REIT by 16.8% during the 3rd quarter. Mackenzie Financial Corp now owns 46,033 shares of the real estate investment trust’s stock worth $668,000 after buying an additional 6,615 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Ellington Residential Mortgage REIT during the 3rd quarter worth $109,000. Institutional investors and hedge funds own 68.39% of the company’s stock.

A number of equities analysts have weighed in on EARN shares. Zacks Investment Research lowered shares of Ellington Residential Mortgage REIT from a “hold” rating to a “sell” rating in a report on Wednesday, February 14th. ValuEngine lowered shares of Ellington Residential Mortgage REIT from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Finally, TheStreet lowered shares of Ellington Residential Mortgage REIT from a “c” rating to a “d+” rating in a report on Friday, February 9th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Ellington Residential Mortgage REIT has an average rating of “Hold” and an average price target of $15.00.

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About Ellington Residential Mortgage REIT

Ellington Residential Mortgage REIT is a real estate investment trust. The Company conducts its business through its subsidiaries, EARN OP GP LLC and Ellington Residential Mortgage LP (the Operating Partnership). It specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets.

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