Streetbeat News

EARN

Ellington Residential Mortgage REIT

https://www.earnreit.com

Industry

REIT - Mortgage

Ellington Residential Mortgage REIT, a real estate investment trust, specializes in acquiring, investing in, and managing 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 comprising non-agency CMOs, such as investment grade and non-investment grade. The company has elected to be taxed as a real estate investment trust. As a result, it would not be subject to corporate income tax on that portion of its net income that is distributed to shareholders. Ellington Residential Mortgage REIT was incorporated in 2012 and is based in Old Greenwich, Connecticut.

Open

6.33

Mkt cap

164M

Volume

687K

High

6.50

P/E Ratio

30.76

52-wk high

7.26

Low

6.33

Div yield

0.15

52-wk low

5.54

Ellington Credit Company (EARN) held its Q3 2024 earnings call, discussing financial performance and strategies. Key participants included CEO Larry Penn and CFO Chris Smernoff.

Portfolio Pulse from

November 13, 2024 | 8:30 pm

Ellington Credit (EARN) reported Q3 earnings of $0.28 per share, surpassing the Zacks Consensus Estimate of $0.27 and improving from $0.21 a year ago.

Portfolio Pulse from

November 13, 2024 | 2:30 am

Ellington Credit has postponed its 2024 Annual Meeting of Shareholders, which was originally scheduled for September 26, 2024. This decision may impact investor sentiment and the company's stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 8:50 pm

Ellington Credit (NYSE:EARN) reported Q2 earnings per share of $0.36, beating the analyst estimate of $0.28. However, sales of $3.90 million missed the $4.13 million estimate. Despite the sales miss, both EPS and sales showed significant year-over-year growth.

Portfolio Pulse from saritha@benzinga.com

August 12, 2024 | 10:11 pm

Ellington Credit expects its Q3 adjusted distributed EPS to decline somewhat from the Q2 level of $0.36, while still exceeding the Q1 level of $0.27. The estimated EPS for Q3 is $0.29.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 9:50 pm

Ellington Credit (NYSE:EARN) reported Q2 2024 adjusted EPS of $0.36, beating the analyst estimate of $0.28. However, sales were $3.90 million, missing the $4.13 million estimate.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 9:47 pm

Ellington Residential (NYSE:EARN) reported Q1 adjusted earnings of $0.27 per share, surpassing the $0.25 estimate, marking a 28.57% increase from last year. However, Q1 sales of $279.00K fell short of the $3.64M estimate by 92.34%, despite being a 175% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 8:30 pm

JMP Securities analyst Mikhail Goberman reiterated a Market Perform rating on Ellington Residential (NYSE:EARN), indicating a neutral outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 3:38 pm

Ellington Residential has announced a rebranding to Ellington Credit Company. This strategic move is aimed at reflecting the company's broader focus on credit investments. The rebranding includes a change in the company's ticker symbol from EARN to a new symbol that aligns with its new identity.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:23 pm

JMP Securities analyst Mikhail Goberman reiterated a Market Perform rating on Ellington Residential (NYSE:EARN), indicating no change in the company's stock outlook.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:08 pm

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