We have long covered and traded Ellington Residential Mortgage REIT (EARN). This is a small mREIT relatively speaking that we have examined several times over the years. The name recently caught our eye again as it approaches a 52-week low. The new lows come as yield curves are flattening, markets are seeing turmoil, and the catalyst that was recently reported earnings and a dividend cut. Ultimately, we have been concerned with what we have seen in recent quarters in several of the critical metrics we follow for mREITs. The purpose of today's article is to