Ellington Residential Mortgage REIT (EARN) Cut to "Sell" at Zacks Investment Research

Wells Fargo & Company MN lifted its position in Ellington Residential Mortgage REIT by 894.5% in the 1st quarter. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. They now have $28.00 price target on the real estate investment trust's stock. (NYSE TIER) opened at $19.31 on Friday.

Other institutional investors and hedge funds also recently modified their holdings of the company. BMO Capital Markets reiterated a "buy" rating and set a $20.00 price objective on shares of TIER REIT in a research report on Thursday, November 9th. Also, CEO Scott Ulm acquired 5,000 shares of ARMOUR Residential REIT stock in a transaction on Tuesday, March 21st.

The company is so far trading up by 1.91% percent from yesterday's close. Ellington Residential Mortgage REIT has a 52 week low of $12.50 and a 52 week high of $15.74.

ARMOUR Residential REIT (NYSE:ARR) last posted its quarterly earnings results on Monday, May 1st. As of the last earnings report the EPS was $1.08 with 13.34M shares now outstanding. The firm had revenue of $39.64 million for the quarter, compared to analyst estimates of $37.49 million. The value of the investment in Ellington Residential Mortgage increased from $170,000 to $668,000 a change of 292.9% since the last quarter. Zacks' EPS averages are an average based on a survey of research analysts that cover Ellington Residential Mortgage REIT.


TRADEMARK VIOLATION NOTICE: "Ellington Residential Mortgage REIT (EARN) Cut to "Sell" at Zacks Investment Research" was originally reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this piece on another site, it was illegally stolen and reposted in violation of USA & worldwide trademark & copyright laws. The original version of this piece of content can be read at Shareholders of record on Wednesday, November 15th will be paid a $0.19 dividend. This represents a $0.72 annualized dividend and a yield of 3.73%. The ex-dividend date was Thursday, September 28th. Ellington Residential Mortgage REIT's payout ratio is 149.53%. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The institutional investor owned 84,543 shares of the real estate investment trust's stock after selling 9,520 shares during the period. Zacks Investment Research upgraded Ellington Residential Mortgage REIT from a "hold" rating to a "buy" rating and set a $16.00 price target for the company in a research report on Thursday, August 3rd. Its stake was worth $1,767,000 a decrease of 31.6% as of quarter end. Vanguard Group Inc. now owns 436,995 shares of the real estate investment trust's stock worth $6,407,000 after buying an additional 21,208 shares during the last quarter. With short interest at 412,156 and short average daily volume at 83,039, the short-interest ratio is 5.0 and the percentage of shorted shares was 0.03% on October 31. Wells Fargo & Company MN now owns 12,938 shares of the real estate investment trust's stock worth $190,000 after buying an additional 11,637 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of ARMOUR Residential REIT in the third quarter worth about $195,000.

According to Zacks, "Ellington Residential Mortgage REIT is a real estate investment trust that specializes in acquiring, investing in and managing residential mortgage and real estate-related assets". The Company constructs and managing a portfolio consisting of residential mortgage-backed securities (RMBS) for which the principal and interest payments are guaranteed by the United States Government agency or the United States Government-sponsored entity (Agency RMBS) and, to a lesser extent, RMBS backed by prime jumbo, Alternative A-paper (Alt-A) manufactured housing, and subprime residential mortgage loans (non-Agency RMBS).

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