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

Ellington Credit (NYSE:EARN) announced a monthly dividend on Monday, July 8th, NASDAQ reports. Shareholders of record on Wednesday, July 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Monday, August 26th. This represents a $0.96 annualized dividend and a yield of 13.55%. The ex-dividend date is Wednesday, July 31st.

Ellington Credit has increased its dividend by an average of 39.3% annually over the last three years. Ellington Credit has a dividend payout ratio of 84.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Ellington Credit to earn $1.08 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 88.9%.

Ellington Credit Trading Up 0.5 %

Shares of Ellington Credit stock opened at $7.09 on Tuesday. The company’s 50-day moving average price is $7.02 and its two-hundred day moving average price is $6.64. Ellington Credit has a 52 week low of $5.09 and a 52 week high of $7.46. The stock has a market cap of $145.10 million, a PE ratio of 24.43 and a beta of 1.90.

Ellington Credit (NYSE:EARN) last posted its quarterly earnings data on Tuesday, May 14th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. The company had revenue of $0.28 million for the quarter, compared to analyst estimates of $4.02 million. During the same quarter in the previous year, the firm posted $0.21 EPS. On average, equities analysts predict that Ellington Credit will post 1.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.