Ellington Credit (NYSE:EARN - Get Free Report) announced a monthly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Friday, November 29th will be paid a dividend of 0.08 per share by the real estate investment trust on Thursday, December 26th. This represents a $0.96 dividend on an annualized basis and a yield of 14.50%. The ex-dividend date is Friday, November 29th.
Ellington Credit has raised its dividend by an average of 39.3% per year over the last three years. Ellington Credit has a dividend payout ratio of 81.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Analysts expect Ellington Credit to earn $1.10 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 87.3%.
Ellington Credit Stock Performance
Shares of NYSE:EARN traded up $0.21 during midday trading on Friday, hitting $6.62. 451,482 shares of the stock were exchanged, compared to its average volume of 398,394. Ellington Credit has a 12 month low of $5.42 and a 12 month high of $7.26. The business's 50-day moving average price is $6.83 and its 200 day moving average price is $6.92. The stock has a market capitalization of $167.68 million, a price-to-earnings ratio of 41.38 and a beta of 1.87.
Ellington Credit (NYSE:EARN - Get Free Report) last issued its quarterly earnings data on Monday, August 12th. The real estate investment trust reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.12. The business had revenue of $3.90 million during the quarter, compared to the consensus estimate of $6.35 million. During the same period in the prior year, the firm earned $0.17 EPS. As a group, sell-side analysts expect that Ellington Credit will post 1.16 EPS for the current year.
About Ellington Credit
(
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Ellington Credit Company, a real estate investment trust, acquires, invests in, and manages 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, such as non-agency CMOs, such as investment grade and non-investment grade.
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