Ellington Credit (NYSE:EARN) Issues Earnings Results

Ellington Credit (NYSE:EARN) posted its quarterly earnings data on Tuesday. The real estate investment trust reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01, Zacks reports. Ellington Credit had a net margin of 226.01% and a return on equity of 17.20%. 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 posted $0.21 EPS.

Ellington Credit Stock Down 2.9 %

Shares of NYSE:EARN traded down $0.19 on Wednesday, reaching $6.30. 478,571 shares of the company’s stock were exchanged, compared to its average volume of 323,575. The firm has a market capitalization of $159.58 million, a price-to-earnings ratio of 5.63 and a beta of 1.87. Ellington Credit has a fifty-two week low of $5.54 and a fifty-two week high of $7.26. The business’s 50-day moving average is $6.81 and its two-hundred day moving average is $6.92.

Ellington Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Friday, November 29th will be issued 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 15.24%. Ellington Credit’s dividend payout ratio (DPR) is 85.71%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Ellington Credit from a “hold” rating to a “sell” rating in a research note 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.