Ellington Credit (NYSE:EARN) Stock Holdings Lessened by Gables Capital Management Inc.

Gables Capital Management Inc. lowered its stake in Ellington Credit (NYSE:EARN) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,650 shares of the real estate investment trust’s stock after selling 2,950 shares during the period. Gables Capital Management Inc.’s holdings in Ellington Credit were worth $494,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. FMR LLC raised its stake in Ellington Credit by 243.2% during the 3rd quarter. FMR LLC now owns 4,839 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 3,429 shares during the period. Naviter Wealth LLC acquired a new stake in Ellington Credit during the fourth quarter valued at $72,000. Global Retirement Partners LLC acquired a new stake in Ellington Credit during the fourth quarter valued at $114,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Ellington Credit in the 4th quarter valued at approximately $152,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Ellington Credit in the 3rd quarter valued at approximately $170,000. Institutional investors own 20.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Ellington Credit from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th.

Ellington Credit Stock Performance

EARN opened at $6.34 on Tuesday. The business has a 50 day moving average price of $6.55 and a 200 day moving average price of $6.69. Ellington Credit has a twelve month low of $6.19 and a twelve month high of $7.26. The firm has a market cap of $184.84 million, a P/E ratio of 5.66 and a beta of 1.96.

Ellington Credit Announces Dividend

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 $0.08 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 15.15%. Ellington Credit’s dividend payout ratio (DPR) 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.