Ellington Financial Inc. (NYSE:EFC) Declares Monthly Dividend of $0.13

Key Points

• Ellington Financial declared a monthly dividend of $0.13 per share, payable December 31 to shareholders of record November 30. The payment equates to $1.56 annually and a 13.6% yield.
• The dividend is currently covered by earnings, with a 91.2% payout ratio; analysts expect that ratio to fall to 74.6% next year if projected earnings materialize.
• Latest quarterly results fell short of estimates: earnings were $0.45 per share versus $0.47 expected, and revenue was $117.72 million versus $125.83 million expected.

Ellington Financial Inc. (NYSE:EFC - Get Free Report) declared a monthly dividend on Thursday, November 5th. Stockholders of record on Monday, November 30th will be given a dividend of $0.13 per share by the financial services provider on Thursday, December 31st. This represents a $1.56 annualized dividend and a dividend yield of 13.6%. The ex-dividend date of this dividend is Monday, November 30th.

Ellington Financial has a dividend payout ratio of 91.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Analysts expect Ellington Financial to earn $2.09 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 74.6%.

Ellington Financial Trading Down 3.0%

NYSE:EFC opened at $11.49 on Friday. The company has a market cap of $1.48 billion, a P/E ratio of 6.92 and a beta of 1.01. The stock's fifty day moving average price is $12.21 and its two-hundred day moving average price is $12.85. Ellington Financial has a 1 year low of $11.27 and a 1 year high of $14.12. The company has a debt-to-equity ratio of 10.39, a current ratio of 52.06 and a quick ratio of 52.06.

Ellington Financial (NYSE:EFC - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). Ellington Financial had a net margin of 41.95% and a return on equity of 16.12%. The company had revenue of $117.72 million during the quarter, compared to analysts' expectations of $125.83 million. As a group, analysts expect that Ellington Financial will post 2.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EFC. MCF Advisors LLC purchased a new stake in Ellington Financial in the second quarter worth approximately $25,000. Continuum Advisory LLC bought a new stake in Ellington Financial in the 2nd quarter worth $28,000. Farther Finance Advisors LLC increased its holdings in Ellington Financial by 287.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,566 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 1,904 shares during the period. Integrated Wealth Concepts LLC bought a new position in Ellington Financial during the 2nd quarter valued at approximately $41,000. Finally, TOP Private Wealth LLC. bought a new position in Ellington Financial during the 2nd quarter valued at approximately $64,000. Hedge funds and other institutional investors own 55.62% of the company's stock.

About Ellington Financial

Ellington Financial Inc is a real estate investment trust (REIT) that acquires, invests in and manages a portfolio of mortgage-related and other financial assets. The company focuses primarily on residential and commercial mortgage loans, mortgage-backed securities and related investments.

Its investment activities may include agency and non-agency residential mortgage-backed securities, commercial mortgage-backed securities, residential and commercial mortgage loans, mortgage servicing rights and consumer loans.

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