Skip to main content

Market Overview

UPDATE: Credit Suisse Initiates Ellington Residential at Neutral on Agency Focus


In a report published Tuesday, Credit Suisse analyst Douglas Harter initiated coverage on Ellington Residential (NYSE: EARN) with a Neutral rating and $20.00 price target.

In the report, Credit Suisse noted, “We are initiating on Ellington Residential Mortgage REIT (EARN) with a Neutral rating and a $20 target price. We see 11% of total return potential over the next year coming largely from the 10% expected dividend yield. EARN will be primarily focused on the Agency MBS market but will have the flexibility to deploy about 15-20% of its capital toward non-Agency MBS. We expect EARN actively to manage its portfolio in order to maximize total economic returns, similar to the managers' track record with EFC. Similar to EFC, we expect EARN's portfolio to be actively managed as the manager looks to continually find the best relative value with the Agency MBS sector. In the current volatile landscape we see this as more important than before.”

Ellington Residential closed on Friday at $19.41.

Latest Ratings for EARN

Nov 2020BTIGInitiates Coverage OnBuy
Jul 2019JMP SecuritiesUpgradesMarket PerformMarket Outperform
Aug 2017Deutsche BankMaintainsHold

View More Analyst Ratings for EARN
View the Latest Analyst Ratings


Related Articles (EARN)

View Comments and Join the Discussion!

Posted-In: Credit Suisse Douglas HarterAnalyst Color Initiation Analyst Ratings

Latest Ratings

PHXSeaport GlobalInitiates Coverage On
AFCGLake StreetInitiates Coverage On29.0
OSSNoble Capital MarketsUpgrades7.0
NCNOGabelli & Co.Upgrades
HAECJS SecuritiesUpgrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at