Ellington Credit (NYSE:EARN - Get Free Report) announced a monthly dividend on Friday, March 7th, NASDAQ Dividends reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.08 per share by the real estate investment trust on Friday, April 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 15.71%. The ex-dividend date is Monday, March 31st.
Ellington Credit has a payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Research analysts expect Ellington Credit to earn $1.13 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 85.0%.
Ellington Credit Stock Down 3.5 %
NYSE EARN traded down $0.22 during trading hours on Tuesday, hitting $6.11. 679,960 shares of the company were exchanged, compared to its average volume of 417,613. The firm has a market cap of $178.30 million, a price-to-earnings ratio of 5.45 and a beta of 1.96. The company has a 50 day moving average of $6.55 and a two-hundred day moving average of $6.69. Ellington Credit has a 52-week low of $6.09 and a 52-week high of $7.26.
Analysts Set New Price Targets
Separately, StockNews.com raised Ellington Credit from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th.
Read Our Latest Research Report on Ellington Credit
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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