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

Ellington Credit (NYSE:EARN) announced a monthly dividend on Friday, December 6th,NASDAQ Dividends reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.08 per share by the real estate investment trust on Monday, January 27th. This represents a $0.96 dividend on an annualized basis and a yield of 14.01%. The ex-dividend date of this dividend is Tuesday, December 31st.

Ellington Credit has raised its dividend payment by an average of 39.3% annually over the last three years. Ellington Credit has a payout ratio of 84.2% meaning 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 $1.13 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 Price Performance

EARN stock traded up $0.09 during midday trading on Friday, reaching $6.85. 509,688 shares of the company were exchanged, compared to its average volume of 413,366. The firm has a market capitalization of $197.28 million, a price-to-earnings ratio of 6.12 and a beta of 1.86. The business has a 50-day moving average price of $6.71 and a two-hundred day moving average price of $6.88. Ellington Credit has a one year low of $5.54 and a one year high of $7.26.

Ellington Credit (NYSE:EARN) last released its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. The firm had revenue of $4.75 million for the quarter, compared to analysts’ expectations of $7.55 million. During the same period in the prior year, the firm earned $0.21 EPS. As a group, analysts anticipate that Ellington Credit will post 1.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Ellington Credit from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th.

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.