Ellington Residential Mortgage REIT (EARN) to Issue Quarterly Dividend of $0.28 on July 25th

Ellington Residential Mortgage REIT (NYSE:EARN) declared a quarterly dividend on Tuesday, June 11th, NASDAQ reports. Investors of record on Friday, June 28th will be given a dividend of 0.28 per share by the real estate investment trust on Thursday, July 25th. This represents a $1.12 annualized dividend and a dividend yield of 10.23%. The ex-dividend date is Thursday, June 27th.

Ellington Residential Mortgage REIT has decreased its dividend by an average of 11.0% annually over the last three years. Ellington Residential Mortgage REIT has a dividend payout ratio of 80.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Ellington Residential Mortgage REIT to earn $1.09 per share next year, which means the company may not be able to cover its $1.12 annual dividend with an expected future payout ratio of 102.8%.

Shares of EARN stock traded down $0.02 during trading on Tuesday, hitting $10.95. The company had a trading volume of 1,240 shares, compared to its average volume of 52,208. The business’s 50-day simple moving average is $11.02. The firm has a market cap of $138.33 million, a PE ratio of 8.17 and a beta of 0.77. Ellington Residential Mortgage REIT has a 52 week low of $10.14 and a 52 week high of $12.14.

Ellington Residential Mortgage REIT (NYSE:EARN) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.04). The company had revenue of $3.06 million during the quarter. Ellington Residential Mortgage REIT had a return on equity of 9.78% and a net margin of 8.39%. Sell-side analysts anticipate that Ellington Residential Mortgage REIT will post 1.03 EPS for the current fiscal year.

Several brokerages have issued reports on EARN. TheStreet raised Ellington Residential Mortgage REIT from a “d” rating to a “c” rating in a research note on Friday, May 3rd. Zacks Investment Research lowered Ellington Residential Mortgage REIT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 16th.

Ellington Residential Mortgage REIT Company Profile

Ellington Residential Mortgage REIT, a real estate investment trust, specializes in acquiring, investing in, and managing 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 comprising non-agency CMOs, such as investment grade and non-investment grade.

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Dividend History for Ellington Residential Mortgage REIT (NYSE:EARN)

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