Ellington Credit Company Announces Oct 25 Dividend of $0.08 (NYSE:EARN)

Key Points

• Ellington Credit Company has announced a dividend of $0.08 per share, payable on November 28th for shareholders of record as of October 31st.
• The company's current payout ratio is 88.9%, indicating that while the dividend is currently covered by earnings, future coverage may become uncertain if earnings decline.
• Ellington Credit's stock has experienced fluctuations, with a recent trading price of $5.17 and a market capitalization of $194 million.

Ellington Credit Company (NYSE:EARN - Get Free Report) announced a oct 25 dividend on Tuesday, October 7th, RTT News reports. Shareholders of record on Friday, October 31st will be given a dividend of 0.08 per share by the real estate investment trust on Friday, November 28th.

Ellington Credit has a payout ratio of 88.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. 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 Price Performance

EARN stock traded down $0.08 during midday trading on Tuesday, reaching $5.17. The company had a trading volume of 544,583 shares, compared to its average volume of 522,302. The firm has a 50-day moving average price of $5.68 and a 200-day moving average price of $5.60. The company has a market capitalization of $194.00 million, a P/E ratio of 28.69 and a beta of 1.33. Ellington Credit has a 1 year low of $4.32 and a 1 year high of $7.11.

Ellington Credit (NYSE:EARN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 19th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Ellington Credit had a return on equity of 15.90% and a net margin of 19.24%.The firm had revenue of $9.87 million for the quarter, compared to the consensus estimate of $12.15 million. On average, equities analysts predict that Ellington Credit will post 1.17 EPS for the current year.

Institutional Investors Weigh In On Ellington Credit

A number of large investors have recently made changes to their positions in the stock. Bogart Wealth LLC boosted its stake in shares of Ellington Credit by 62.5% in the second quarter. Bogart Wealth LLC now owns 5,200 shares of the real estate investment trust's stock worth $30,000 after buying an additional 2,000 shares during the last quarter. Quarry LP purchased a new position in shares of Ellington Credit during the 1st quarter valued at approximately $33,000. Quantbot Technologies LP lifted its stake in shares of Ellington Credit by 211.0% in the 1st quarter. Quantbot Technologies LP now owns 14,016 shares of the real estate investment trust's stock valued at $76,000 after purchasing an additional 9,509 shares during the period. Engineers Gate Manager LP purchased a new stake in Ellington Credit during the second quarter worth $83,000. Finally, Inspire Advisors LLC grew its position in Ellington Credit by 16.3% during the first quarter. Inspire Advisors LLC now owns 17,203 shares of the real estate investment trust's stock valued at $93,000 after buying an additional 2,407 shares during the period. 20.40% of the stock is owned by hedge funds and other institutional investors.

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.

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