Ellington Credit (NYSE:EARN - Get Free Report) announced a monthly dividend on Wednesday, January 8th,Wall Street Journal reports. Stockholders of record on Friday, January 31st will be given a dividend of 0.08 per share by the real estate investment trust on Tuesday, February 25th. This represents a $0.96 annualized dividend and a dividend yield of 14.68%. The ex-dividend date is Friday, January 31st.
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 fall. Equities 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 0.8 %
Ellington Credit stock traded down $0.05 during midday trading on Thursday, reaching $6.54. The stock had a trading volume of 422,792 shares, compared to its average volume of 548,173. The company has a fifty day moving average price of $6.63 and a two-hundred day moving average price of $6.82. Ellington Credit has a 12 month low of $5.54 and a 12 month high of $7.26. The company has a market capitalization of $190.82 million, a P/E ratio of 5.84 and a beta of 1.86.
Ellington Credit (NYSE:EARN - Get Free Report) last issued its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 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 $4.75 million for the quarter, compared to analyst estimates of $7.55 million. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, equities research analysts predict that Ellington Credit will post 1.17 earnings per share for the current fiscal year.
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 Stock Report on EARN
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.
Further Reading
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