Ellington Credit Company (NYSE:EARN) Short Interest Update
by Mitch Edgeman · The Markets DailyEllington Credit Company (NYSE:EARN – Get Free Report) saw a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 362,079 shares, a growth of 26.4% from the January 15th total of 286,387 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 463,705 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily trading volume, of 463,705 shares, the days-to-cover ratio is presently 0.8 days. Currently, 1.0% of the shares of the company are short sold.
Institutional Investors Weigh In On Ellington Credit
Large investors have recently added to or reduced their stakes in the business. Bogart Wealth LLC lifted its stake in shares of Ellington Credit by 62.5% during the second quarter. Bogart Wealth LLC now owns 5,200 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 2,000 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Ellington Credit during the 2nd quarter worth $83,000. Inspire Advisors LLC lifted its stake in shares of Ellington Credit by 13.7% during the 2nd quarter. Inspire Advisors LLC now owns 19,566 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 2,363 shares during the period. World Investment Advisors acquired a new stake in shares of Ellington Credit during the fourth quarter worth $115,000. Finally, Vident Advisory LLC grew its position in shares of Ellington Credit by 109.1% in the second quarter. Vident Advisory LLC now owns 36,350 shares of the real estate investment trust’s stock valued at $209,000 after purchasing an additional 18,967 shares during the period. 20.40% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have recently weighed in on the stock. UBS Group set a $6.00 target price on shares of Ellington Credit in a report on Tuesday, December 23rd. Wall Street Zen raised Ellington Credit from a “sell” rating to a “hold” rating in a report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.25.
Get Our Latest Report on Ellington Credit
Ellington Credit Stock Performance
EARN traded down $0.02 on Monday, hitting $5.24. 337,854 shares of the company were exchanged, compared to its average volume of 433,906. Ellington Credit has a fifty-two week low of $4.32 and a fifty-two week high of $6.59. The firm has a market capitalization of $196.70 million, a P/E ratio of 65.47 and a beta of 1.27. The business’s fifty day moving average is $5.36 and its 200 day moving average is $5.43.
Ellington Credit (NYSE:EARN – Get Free Report) last announced its quarterly earnings results on Wednesday, November 19th. The real estate investment trust reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. Ellington Credit had a return on equity of 16.47% and a net margin of 12.41%.The business had revenue of $11.88 million for the quarter, compared to analyst estimates of $11.41 million. Analysts forecast that Ellington Credit will post 1.17 EPS for the current fiscal year.
Ellington Credit Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a $0.08 dividend. The ex-dividend date is Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 18.3%. Ellington Credit’s dividend payout ratio (DPR) is currently 1,200.00%.
Ellington Credit Company Profile
Ellington Credit Income Fund (NYSE: EARN) is a closed-end management investment company that seeks to generate current income through a diversified portfolio of mortgage- and asset-backed securities. The fund primarily invests in residential mortgage-backed securities (RMBS) and asset-backed securities (ABS), with additional exposure to commercial mortgage-backed securities (CMBS) and related structured credit instruments. To enhance income and manage risk, the fund employs leverage and derivative strategies such as interest rate swaps and credit default swaps, allowing it to adjust duration and credit exposure dynamically.
The fund is externally managed and advised by Ellington Management Group, LLC, an established investment firm specializing in mortgage credit and structured products.