Naviter Wealth LLC Buys New Holdings in Ellington Credit (NYSE:EARN)

Naviter Wealth LLC purchased a new stake in shares of Ellington Credit (NYSE:EARN) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 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 added to or reduced their stakes in EARN. Geode Capital Management LLC lifted its stake in shares of Ellington Credit by 21.6% in the 3rd quarter. Geode Capital Management LLC now owns 269,850 shares of the real estate investment trust’s stock valued at $1,885,000 after purchasing an additional 47,998 shares in the last quarter. Clear Harbor Asset Management LLC raised its holdings in Ellington Credit by 16.3% in the fourth 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 buying an additional 33,040 shares during the period. Bank of New York Mellon Corp acquired a new position in Ellington Credit during the fourth quarter valued at approximately $955,000. Thrivent Financial for Lutherans grew its stake in 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 during the period. Finally, Barclays PLC purchased a new stake in Ellington Credit during the third quarter worth approximately $334,000. 20.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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 Price Performance

NYSE:EARN opened at $6.43 on Monday. The business’s 50-day moving average is $6.55 and its two-hundred day moving average is $6.70. The firm has a market capitalization of $187.46 million, a PE ratio of 5.74 and a beta of 1.96. Ellington Credit has a 12 month low of $6.19 and a 12 month high of $7.26.

Ellington Credit Dividend Announcement

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

Ellington Credit 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.