Ellington Credit (NYSE:EARN) Announces Earnings Results, Beats Expectations By $0.12 EPS

Ellington Credit (NYSE:EARN) announced its earnings results on Monday. The real estate investment trust reported $0.36 EPS for the quarter, topping the consensus estimate of $0.24 by $0.12, Zacks reports. The company had revenue of $3.90 million for the quarter, compared to analyst estimates of $6.35 million. During the same quarter last year, the business posted $0.17 earnings per share.

Ellington Credit Stock Performance

NYSE:EARN traded down $0.01 during mid-day trading on Wednesday, hitting $6.98. 35,734 shares of the stock were exchanged, compared to its average volume of 290,748. The firm’s 50-day simple moving average is $6.97 and its 200 day simple moving average is $6.69. Ellington Credit has a fifty-two week low of $5.09 and a fifty-two week high of $7.26. The stock has a market capitalization of $142.92 million, a price-to-earnings ratio of 24.10 and a beta of 1.89.

Ellington Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Friday, August 30th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.96 annualized dividend and a dividend yield of 13.75%. Ellington Credit’s dividend payout ratio is currently 331.03%.

Analyst Ratings Changes

Separately, JMP Securities reissued a “market perform” rating on shares of Ellington Credit in a research report on Thursday, April 18th.

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.