Ellington Credit Announces Monthly Dividend of $0.08 (NYSE:EARN)

Ellington Credit (NYSE:EARN) declared a monthly dividend on Friday, April 4th, Wall Street Journal reports. Shareholders of record on Wednesday, April 30th will be given a dividend of 0.08 per share by the real estate investment trust on Tuesday, May 27th. This represents a $0.96 dividend on an annualized basis and a yield of 20.15%. The ex-dividend date is Wednesday, April 30th.

Ellington Credit has a dividend payout ratio of 85.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Stock Performance

Shares of EARN stock opened at $4.77 on Friday. The firm has a market cap of $139.03 million, a P/E ratio of 4.25 and a beta of 1.96. The business’s 50 day moving average price is $6.21 and its 200-day moving average price is $6.53. Ellington Credit has a fifty-two week low of $4.74 and a fifty-two week high of $7.26.

Ellington Credit (NYSE:EARN) last issued its quarterly earnings data on Wednesday, March 12th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. The business had revenue of $6.14 million for the quarter, compared to the consensus estimate of $9.65 million. As a group, equities analysts predict that Ellington Credit will post 1.17 EPS for the current year.

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.