Big move for Ellington continues

Ellington Residential Mortgage (EARN +1.3%) follows through on yesterday's late-day surge, with earnings set to be released tomorrow morning.

David Schawel speculates book value could come in north of $18 per share (after the big run, the stock is currently at $16.21).

Pine River Capital (the managers of Two Harbors TWO, and investors in a number of other REITs) disclosed a 5.5% stake in EARN on Friday.

EARN (a REIT) is managed by the same group who runs Ellington Financial (EFC, a partnership/hedge fund). EFC - which reported its Q2 last week - thus far has navigated its way through the MBS rout as well as anyone.

Comments (2)
  • Micro_Cap_Value
    , contributor
    Comments (215) | Send Message
    "has navigated its way through the MBS rout as well as anyone"
    Are you kidding -- EFC has done a phenomenal job that is vastly superior to anyone in this space.
    13 Aug 2013, 10:33 AM Reply Like
  • Darren McCammon
    , contributor
    Comments (4410) | Send Message
    AI also did very well.
    13 Aug 2013, 11:30 AM Reply Like
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