Ellington Residential Mortgage REIT (NYSE:EARN) is expected to report third quarter earnings results, before market open, on Thursday 5th November 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.28 per share.
Looking ahead, the full year income are expected at $ 1.10 per share on the revenues of $ 19.92 million.
Previous Quarter Performance
Ellington Residential Mortgage REIT reported income for the second quarter of $ 0.26 per share, from the revenue of $ 1.16 million. The quarterly earnings escalated 18.18 percent while revenues decreased 75.98 percent compared with the same quarter last year.
Wall street analysts are predicting, EARN to report 2Q20 income of $ 0.25 per share from revenue of $ 4.12 million. The bottom line results beat street analysts by $ 0.01 or 4.00 percent, at the same time, top line results fell short of analysts by $ 2.96 million or 71.84 percent.
Stock Performance
Shares of Ellington Residential Mortgage REIT traded up $ 0.12 or 1.09 percent on Wednesday, reaching $ 11.13 with volume of 27.00 thousand shares. Ellington Residential Mortgage REIT has traded high as $ 11.23 and has cracked $ 10.89 on the downward trend
The closing price of $ 11.13, representing a 307.78 % increase from the 52 week low of $ 2.70 and a 8.17 % decrease over the 52 week high of $ 11.99.
The company has a market capital of $ 137.12 million and is part of the Real Estate sector and REIT – Residential industry.
Conference Call
Ellington Residential Mortgage REIT will be hosting a conference call at 11:00 AM eastern time on 5th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.earnreit.com
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.
