Ellington Financial Inc (NYSE:EFC) announced a monthly dividend on Monday, September 9th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.14 per share by the financial services provider on Friday, October 25th. This represents a $1.68 annualized dividend and a dividend yield of 9.40%. The ex-dividend date is Friday, September 27th.
Ellington Financial has decreased its dividend payment by an average of 12.5% per year over the last three years. Ellington Financial has a payout ratio of 118.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Ellington Financial to earn $1.76 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 95.5%.
NYSE EFC traded up $0.07 on Wednesday, hitting $17.87. 373,776 shares of the stock were exchanged, compared to its average volume of 231,170. The company’s 50-day moving average price is $17.55 and its two-hundred day moving average price is $17.82. The company has a debt-to-equity ratio of 4.01, a current ratio of 43.66 and a quick ratio of 43.66. Ellington Financial has a 52-week low of $14.69 and a 52-week high of $18.50. The company has a market capitalization of $601.11 million, a price-to-earnings ratio of 12.67 and a beta of 0.42.
A number of analysts recently issued reports on EFC shares. Maxim Group reissued a “buy” rating and set a $20.00 price objective on shares of Ellington Financial in a research report on Friday, August 9th. Zacks Investment Research raised Ellington Financial from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective on the stock in a report on Friday, July 19th.
Ellington Financial Company Profile
Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.
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