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

Key Points

• Ellington Credit Company has declared a dividend of $0.08, which will be paid on October 31st to stockholders of record by September 30th.
• The company's dividend payout ratio is currently at 88.9%, and future earnings expectations suggest a potential payout ratio of 85.0%, indicating possible sustainability of the dividend.
• Shares of Ellington Credit traded up to $5.67, with a market cap of approximately $212.78 million, and analysts expect the company to post earnings of $1.13 per share in the coming year.

Ellington Credit Company (NYSE:EARN - Get Free Report) announced a sep 25 dividend on Monday, September 8th, RTT News reports. Stockholders of record on Tuesday, September 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Friday, October 31st.

Ellington Credit has a dividend payout ratio of 88.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities 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

Shares of EARN traded up $0.03 during mid-day trading on Monday, reaching $5.67. The company's stock had a trading volume of 240,837 shares, compared to its average volume of 551,972. Ellington Credit has a 12-month low of $4.32 and a 12-month high of $7.11. The stock has a market cap of $212.78 million, a PE ratio of 31.47 and a beta of 1.31. The company's 50 day moving average is $5.80 and its 200 day moving average is $5.69.

Ellington Credit (NYSE:EARN - Get Free Report) last announced its earnings results on Tuesday, August 19th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). Ellington Credit had a net margin of 19.24% and a return on equity of 15.90%. The business had revenue of $9.87 million during the quarter, compared to analysts' expectations of $12.15 million. As a group, sell-side analysts anticipate that Ellington Credit will post 1.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Bogart Wealth LLC increased its stake in Ellington Credit by 62.5% during the second quarter. Bogart Wealth LLC now owns 5,200 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 2,000 shares during the period. Quarry LP acquired a new position in shares of Ellington Credit in the 1st quarter valued at $33,000. State of Wyoming acquired a new position in shares of Ellington Credit in the 4th quarter valued at $49,000. McIlrath & Eck LLC acquired a new position in shares of Ellington Credit in the 4th quarter valued at $80,000. Finally, Vident Advisory LLC acquired a new position in shares of Ellington Credit in the 4th quarter valued at $90,000. 20.40% of the stock is currently owned by institutional investors and hedge funds.

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.

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