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

Ellington Credit (NYSE:EARN) announced a monthly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.08 per share by the real estate investment trust on Thursday, December 26th. This represents a $0.96 annualized dividend and a yield of 14.50%. The ex-dividend date of this dividend is Friday, November 29th.

Ellington Credit has increased its dividend by an average of 39.3% per year over the last three years. Ellington Credit has a payout ratio of 81.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Ellington Credit to earn $1.10 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 87.3%.

Ellington Credit Trading Up 3.3 %

NYSE EARN traded up $0.21 during trading hours on Friday, reaching $6.62. 451,482 shares of the company traded hands, compared to its average volume of 398,394. Ellington Credit has a 12 month low of $5.42 and a 12 month high of $7.26. The stock has a market capitalization of $167.68 million, a PE ratio of 41.38 and a beta of 1.87. The company has a 50 day moving average of $6.83 and a two-hundred day moving average of $6.92.

Ellington Credit (NYSE:EARN) last issued its earnings results on Monday, August 12th. The real estate investment trust reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. The business had revenue of $3.90 million for the quarter, compared to analyst estimates of $6.35 million. During the same period last year, the company posted $0.17 earnings per share. On average, equities research analysts anticipate that Ellington Credit will post 1.16 earnings per share 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.