Ellington Credit (EARN) To Go Ex-Dividend on January 31st

Ellington Credit (NYSE:EARN) declared a monthly dividend on Wednesday, January 8th,Wall Street Journal reports. Shareholders of record on Friday, January 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, February 25th. This represents a $0.96 dividend on an annualized basis and a yield of 14.68%. The ex-dividend date of this dividend is Friday, January 31st.

Ellington Credit has a payout ratio of 81.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research 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

Shares of NYSE EARN opened at $6.54 on Friday. Ellington Credit has a 1 year low of $5.54 and a 1 year high of $7.26. The company’s 50-day moving average is $6.63 and its 200 day moving average is $6.82. The stock has a market capitalization of $190.82 million, a P/E ratio of 5.84 and a beta of 1.86.

Ellington Credit (NYSE:EARN) last released its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $7.55 million. During the same period in the prior year, the firm earned $0.21 EPS. Research analysts anticipate that Ellington Credit will post 1.17 earnings per share for the current year.

Analyst Ratings Changes

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

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.