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

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. Investors 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. This represents a yield of 1,700.0%. The ex-dividend date of this dividend is Tuesday, September 30th.

Ellington Credit has a 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. 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

NYSE EARN traded down $0.01 during trading on Friday, hitting $5.65. The company's stock had a trading volume of 139,719 shares, compared to its average volume of 294,393. The company has a market cap of $212.03 million, a PE ratio of 31.36 and a beta of 1.31. The business's 50 day simple moving average is $5.79 and its 200-day simple moving average is $5.67. Ellington Credit has a fifty-two week low of $4.32 and a fifty-two week 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 for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $9.87 million during the quarter, compared to analyst estimates of $12.15 million. Ellington Credit had a return on equity of 15.90% and a net margin of 19.24%. Analysts expect that Ellington Credit will post 1.17 EPS for the current fiscal 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.