Today, Ellington Residential Mortgage REIT (EARN) Upgrade by The Zacks Investment Research to Hold

Today, Ellington Residential Mortgage REIT (EARN) Upgrade by The Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Ellington Residential Mortgage REIT (NYSE:EARN) from a sell rating to a hold rating in a research report report published on Thursday.

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. Ellington Residential Mortgage REIT is based in United States. “

A number of other research analysts also recently issued reports on the company. TheStreet raised Ellington Residential Mortgage REIT from a sell rating to a hold rating in a report on Wednesday, November 2nd. Citigroup Inc. boosted their price target on Ellington Residential Mortgage REIT from $12.00 to $13.00 and gave the company a neutral rating in a report on Friday, August 12th.

Ellington Residential Mortgage REIT (NYSE:EARN) opened at 13.10 on Thursday. The stock has a market capitalization of $119.56 million, a price-to-earnings ratio of 10.99 and a beta of 0.55. The company has a 50 day moving average of $12.57 and a 200-day moving average of $13.14. Ellington Residential Mortgage REIT has a 12-month low of $9.57 and a 12-month high of $14.43.

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Ellington Residential Mortgage REIT by 165.0% in the second quarter. JPMorgan Chase & Co. now owns 9,242 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 5,755 shares during the last quarter. KCG Holdings Inc. acquired a new position in shares of Ellington Residential Mortgage REIT during the third quarter valued at $147,000. Ameriprise Financial Inc. increased its position in shares of Ellington Residential Mortgage REIT by 8.7% in the second quarter. Ameriprise Financial Inc. now owns 11,516 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 921 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Ellington Residential Mortgage REIT during the third quarter valued at $155,000. Finally, FJ Capital Management LLC acquired a new position in shares of Ellington Residential Mortgage REIT during the second quarter valued at $266,000. 58.73% of the stock is owned by institutional investors and hedge funds.

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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