Ellington Residential: Q2 Earnings Insights

Shares of Ellington Residential (NYSE:EARN) moved lower in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share rose 42.31% year over year to $0.37, which beat the estimate of $0.32.

Revenue of $9,214,000 rose by 695.00% year over year, which beat the estimate of $5,330,000.

Looking Ahead

Earnings guidance hasn’t been issued by the company for now.

Revenue guidance hasn’t been issued by the company for now.

Recent Stock Performance

52-week high: $13.92

52-week low: $10.56

Price action over last quarter: down 7.12%

Company Description

Ellington Residential Mortgage REIT is principally engaged in the business of acquiring, investing in, and managing residential mortgage- and real estate-related assets through its wholly-owned subsidiaries. The company’s primary objective is to generate attractive current yields and risk-adjusted total returns for shareholders by investing in assets that compensate appropriately for the risks associated with them.

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