Ellington Credit (NYSE:EARN - Get Free Report) declared a monthly dividend on Friday, April 4th, Wall Street Journal reports. Shareholders of record on Wednesday, April 30th will be given a dividend of 0.08 per share by the real estate investment trust on Tuesday, May 27th. This represents a $0.96 dividend on an annualized basis and a yield of 20.19%. The ex-dividend date is Wednesday, April 30th.
Ellington Credit has a payout ratio of 85.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. 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 Up 4.7 %
NYSE EARN traded up $0.22 during trading hours on Wednesday, hitting $4.76. 1,506,978 shares of the company were exchanged, compared to its average volume of 504,096. The firm has a market cap of $178.59 million, a price-to-earnings ratio of 4.25 and a beta of 1.74. The company has a 50 day moving average of $6.01 and a two-hundred day moving average of $6.45. Ellington Credit has a 52-week low of $4.28 and a 52-week high of $7.26.
Ellington Credit (NYSE:EARN - Get Free Report) last announced its quarterly earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.01. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. The company had revenue of $6.14 million during the quarter, compared to the consensus estimate of $9.65 million. On average, equities research analysts predict that Ellington Credit will post 1.17 EPS for the current year.
Wall Street Analysts Forecast Growth
Separately, Piper Sandler lowered their target price on shares of Ellington Credit from $8.00 to $6.50 and set an "overweight" rating for the company in a report on Tuesday.
Get Our Latest Analysis on Ellington Credit
Ellington Credit Company Profile
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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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