Ellington Credit (NYSE:EARN) Issues Earnings Results, Beats Estimates By $0.12 EPS

Ellington Credit (NYSE:EARN) released its earnings results on Monday. The real estate investment trust reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12, Zacks reports. The firm had revenue of $3.90 million for the quarter, compared to analyst estimates of $6.35 million. During the same period last year, the firm earned $0.17 EPS.

Ellington Credit Stock Down 0.3 %

Shares of NYSE EARN traded down $0.02 during midday trading on Wednesday, reaching $6.97. 115,635 shares of the stock were exchanged, compared to its average volume of 291,260. The firm has a market cap of $142.71 million, a price-to-earnings ratio of 24.10 and a beta of 1.89. The firm has a 50-day simple moving average of $6.97 and a two-hundred day simple moving average of $6.69. Ellington Credit has a twelve month low of $5.09 and a twelve month high of $7.26.

Ellington Credit Dividend Announcement

The business also recently declared 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. This represents a $0.96 dividend on an annualized basis and a yield of 13.77%. The ex-dividend date of this dividend is Friday, August 30th. Ellington Credit’s payout ratio is presently 331.03%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Ellington Credit in a 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.