Ellington Financial Inc. (NYSE:EFC) announced a monthly dividend on Tuesday, June 8th, Wall Street Journal reports. Stockholders of record on Wednesday, June 30th will be paid a dividend of 0.15 per share by the financial services provider on Monday, July 26th. This represents a $1.80 annualized dividend and a dividend yield of 9.36%. The ex-dividend date is Tuesday, June 29th.
Ellington Financial has a dividend payout ratio of 83.3% 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 Financial to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 94.2%.
Shares of NYSE EFC opened at $19.23 on Wednesday. Ellington Financial has a 1-year low of $10.77 and a 1-year high of $19.39. The firm’s fifty day moving average price is $18.17. The company has a current ratio of 30.47, a quick ratio of 30.47 and a debt-to-equity ratio of 3.57. The company has a market capitalization of $841.89 million, a price-to-earnings ratio of 12.03 and a beta of 2.19.
Several research firms recently issued reports on EFC. Zacks Investment Research raised Ellington Financial from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Monday, May 31st. UBS Group lowered Ellington Financial from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $17.50 to $18.50 in a research note on Monday. Finally, Maxim Group reissued a “buy” rating and set a $20.00 price objective on shares of Ellington Financial in a research note on Friday, April 16th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Ellington Financial currently has a consensus rating of “Buy” and a consensus target price of $17.06.
Ellington Financial Company Profile
Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages 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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