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

Ellington Credit (NYSE:EARN) declared a monthly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Friday, November 29th will be paid 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 14.23%. The ex-dividend date 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 84.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Stock Up 0.2 %

Shares of Ellington Credit stock opened at $6.75 on Wednesday. The stock has a market cap of $194.26 million, a price-to-earnings ratio of 6.02 and a beta of 1.87. Ellington Credit has a twelve month low of $5.54 and a twelve month high of $7.26. The company’s fifty day moving average is $6.75 and its 200 day moving average is $6.90.

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

Analyst Ratings Changes

Separately, StockNews.com upgraded Ellington Credit from a “sell” rating to a “hold” rating in a 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.