Ellington Credit (NYSE:EARN) Rating Increased to Hold at StockNews.com

Ellington Credit (NYSE:EARN) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Ellington Credit Stock Performance

EARN stock opened at $6.64 on Wednesday. The firm has a fifty day moving average price of $6.76 and a 200 day moving average price of $6.91. Ellington Credit has a fifty-two week low of $5.54 and a fifty-two week high of $7.26. The firm has a market cap of $191.25 million, a PE ratio of 5.93 and a beta of 1.87.

Ellington Credit (NYSE:EARN) last issued its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $4.75 million during the quarter, compared to analysts’ expectations of $7.55 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. During the same period last year, the company posted $0.21 EPS. On average, equities analysts predict that Ellington Credit will post 1.17 EPS for the current year.

Hedge Funds Weigh In On Ellington Credit

Several large investors have recently modified their holdings of EARN. FMR LLC lifted its position in Ellington Credit by 243.2% in the third quarter. FMR LLC now owns 4,839 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 3,429 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new stake in shares of Ellington Credit in the 3rd quarter worth about $170,000. Quadrature Capital Ltd purchased a new position in shares of Ellington Credit during the 3rd quarter worth about $220,000. Barclays PLC bought a new position in Ellington Credit during the 3rd quarter valued at about $334,000. Finally, International Assets Investment Management LLC bought a new stake in Ellington Credit in the third quarter worth about $468,000. 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.