Ellington Credit (EARN) To Go Ex-Dividend on April 30th

Ellington Credit (NYSE:EARN) declared a monthly dividend on Friday, April 4th, Wall Street Journal reports. Shareholders of record on Wednesday, April 30th will be paid 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 dividend yield of 20.15%. The ex-dividend date of this dividend is Wednesday, April 30th.

Ellington Credit has a dividend payout ratio of 85.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Performance

Shares of NYSE EARN opened at $4.77 on Friday. The stock’s fifty day moving average is $6.21 and its 200 day moving average is $6.53. The stock has a market capitalization of $139.03 million, a P/E ratio of 4.25 and a beta of 1.96. Ellington Credit has a 52 week low of $4.74 and a 52 week high of $7.26.

Ellington Credit (NYSE:EARN) last posted its quarterly earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $6.14 million during the quarter, compared to analysts’ expectations of $9.65 million. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. Equities research analysts forecast that Ellington Credit will post 1.17 earnings per share for the current year.

Ellington Credit Company Profile

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.