Ellington Credit (NYSE:EARN) Issues Earnings Results

Ellington Credit (NYSE:EARN) released its quarterly earnings data on Tuesday. The real estate investment trust reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01, Zacks reports. Ellington Credit had a return on equity of 17.20% and a net margin of 226.01%. The firm had revenue of $4.75 million during the quarter, compared to the consensus estimate of $7.55 million. During the same quarter in the previous year, the company posted $0.21 earnings per share.

Ellington Credit Price Performance

EARN stock traded down $0.04 during mid-day trading on Thursday, reaching $6.33. 363,161 shares of the company traded hands, compared to its average volume of 325,539. The company has a fifty day moving average price of $6.79 and a 200-day moving average price of $6.91. Ellington Credit has a 52-week low of $5.54 and a 52-week high of $7.26. The company has a market capitalization of $160.34 million, a P/E ratio of 5.65 and a beta of 1.87.

Ellington Credit Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 26th. Investors of record on Friday, November 29th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 15.17%. Ellington Credit’s payout ratio is 85.71%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Ellington Credit from a “hold” rating to a “sell” rating in a report on Tuesday.

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.