Ellington Credit (NYSE:EARN) Issues Quarterly Earnings Results

Ellington Credit (NYSE:EARN) released its quarterly earnings results on Tuesday. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01, Zacks reports. The firm had revenue of $4.75 million during the quarter, compared to the consensus estimate of $7.55 million. Ellington Credit had a net margin of 226.01% and a return on equity of 17.20%. During the same quarter last year, the firm earned $0.21 earnings per share.

Ellington Credit Stock Performance

Ellington Credit stock opened at $6.33 on Friday. The firm has a 50 day moving average price of $6.79 and a two-hundred day moving average price of $6.91. Ellington Credit has a 52-week low of $5.54 and a 52-week high of $7.26. The firm has a market cap of $160.34 million, a price-to-earnings ratio of 5.65 and a beta of 1.87.

Ellington Credit Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Friday, November 29th will be given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 15.17%. The ex-dividend date is Friday, November 29th. Ellington Credit’s dividend payout ratio is presently 85.71%.

Analyst Ratings Changes

Separately, StockNews.com lowered Ellington Credit from a “hold” rating to a “sell” rating in a research report on Tuesday.

About Ellington Credit

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.