Ellington Credit (NYSE:EARN - Get Free Report) announced a monthly dividend on Monday, February 10th,Wall Street Journal reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.08 per share by the real estate investment trust on Tuesday, March 25th. This represents a $0.96 annualized dividend and a dividend yield of 14.71%. The ex-dividend date of this dividend is Friday, February 28th.
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 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 Trading Down 0.4 %
NYSE EARN traded down $0.03 on Friday, hitting $6.53. 960,072 shares of the company were exchanged, compared to its average volume of 612,100. The firm has a 50 day moving average of $6.61 and a two-hundred day moving average of $6.74. The company has a market cap of $190.40 million, a P/E ratio of 5.83 and a beta of 1.85. Ellington Credit has a 1-year low of $5.76 and a 1-year high of $7.26.
Ellington Credit (NYSE:EARN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. The business had revenue of $4.75 million for the quarter, compared to the consensus estimate of $7.55 million. During the same quarter in the prior year, the company earned $0.21 EPS. Research analysts anticipate that Ellington Credit will post 1.17 EPS for the current fiscal year.
Analyst Ratings Changes
Separately, StockNews.com upgraded shares of Ellington Credit from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th.
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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