Ellington Residential Mortgage REIT said on April 10, 2023 that its board of directors declared a regular monthly dividend of $0.08 per share ($0.96 annualized). Previously, the company paid $0.08 per share.
Shares must be purchased before the ex-div date of April 27, 2023 to qualify for the dividend. Shareholders of record as of April 28, 2023 will receive the payment on May 25, 2023.
At the current share price of $7.13 / share, the stock's dividend yield is 13.46%. Looking back five years and taking a sample every week, the average dividend yield has been 11.67%, the lowest has been 8.60%, and the highest has been 28.07%. The standard deviation of yields is 2.35 (n=223).
The current dividend yield is 0.77 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -0.44. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.14%.
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What is the Fund Sentiment?
There are 76 funds or institutions reporting positions in Ellington Residential Mortgage REIT.
This is a decrease
of
5
owner(s) or 6.17% in the last quarter.
Average portfolio weight of all funds dedicated to EARN is 0.03%,
a decrease
of 36.03%.
Total shares owned by institutions decreased
in the last three months by 7.15% to 3,087K shares.
The put/call ratio of EARN is 0.19, indicating a
bullish
outlook.
Analyst Price Forecast Suggests 14.45% Upside
As of April 6, 2023, the average one-year price target for Ellington Residential Mortgage REIT is $8.16. The forecasts range from a low of $8.08 to a high of $8.40. The average price target represents an increase of 14.45% from its latest reported closing price of $7.13.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ellington Residential Mortgage REIT is $18MM, a decrease of 8.77%. The projected annual non-GAAP EPS is $1.03.
What are Other Shareholders Doing?
Citadel Advisors holds 39K shares representing 0.28% ownership of the company. In it's prior filing, the firm reported owning 15K shares, representing an increase of 61.05%. The firm increased its portfolio allocation in EARN by 194.76% over the last quarter.
Claybrook Capital holds 40K shares representing 0.29% ownership of the company. In it's prior filing, the firm reported owning 112K shares, representing a decrease of 179.60%. The firm decreased its portfolio allocation in EARN by 99.96% over the last quarter.
Vanguard Group holds 815K shares representing 5.91% ownership of the company. In it's prior filing, the firm reported owning 716K shares, representing an increase of 12.11%. The firm increased its portfolio allocation in EARN by 17.09% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 209K shares representing 1.52% ownership of the company. In it's prior filing, the firm reported owning 209K shares, representing an increase of 0.16%. The firm increased its portfolio allocation in EARN by 7.32% over the last quarter.
TCAAX - Thrivent Moderately Conservative Allocation Fund holds 2K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 2K shares, representing a decrease of 29.05%. The firm decreased its portfolio allocation in EARN by 12.41% over the last quarter.
Ellington Residential Mortgage REIT Background Information
(This description is provided by the company.)
Ellington Residential Mortgage REIT is a mortgage real estate investment trust that specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets, with a primary focus on residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. government agency or a U.S. government-sponsored enterprise. Ellington Residential Mortgage REIT is externally managed and advised by Ellington Residential Mortgage Management LLC, an affiliate of Ellington Management Group, L.L.C.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
