Ellington Credit (NYSE:EARN) Announces $0.08 Monthly Dividend

Ellington Credit (NYSE:EARN) declared a monthly dividend on Tuesday, February 11th,Wall Street Journal reports. Investors of record on Friday, February 28th will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, March 25th. This represents a $0.96 dividend on an annualized basis and a yield of 14.63%. The ex-dividend date of this dividend is Friday, February 28th.

Ellington Credit has a dividend payout ratio of 82.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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 Up 0.9 %

EARN traded up $0.06 during trading on Tuesday, reaching $6.56. 754,530 shares of the company’s stock were exchanged, compared to its average volume of 618,457. Ellington Credit has a one year low of $5.57 and a one year high of $7.26. The firm has a fifty day moving average price of $6.63 and a two-hundred day moving average price of $6.75. The stock has a market capitalization of $191.42 million, a PE ratio of 5.86 and a beta of 1.85.

Ellington Credit (NYSE:EARN) last issued its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $4.75 million for the quarter, compared to analysts’ expectations of $7.55 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Sell-side analysts expect that Ellington Credit will post 1.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Ellington Credit from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th.

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.