Ellington Credit Announces Monthly Dividend of $0.08 (NYSE:EARN)

Ellington Credit (NYSE:EARNGet Free Report) declared a monthly dividend on Monday, July 8th, NASDAQ reports. Stockholders of record on Wednesday, July 31st will be given a dividend of 0.08 per share by the real estate investment trust on Monday, August 26th. This represents a $0.96 annualized dividend and a dividend yield of 13.75%. The ex-dividend date of this dividend is Wednesday, July 31st.

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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Ellington Credit to earn $1.08 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 88.9%.

Ellington Credit Stock Performance

NYSE:EARN traded up $0.04 during mid-day trading on Tuesday, hitting $6.98. The stock had a trading volume of 463,894 shares, compared to its average volume of 261,939. The company’s 50 day simple moving average is $7.01 and its 200 day simple moving average is $6.55. The stock has a market cap of $142.95 million, a price-to-earnings ratio of 23.93 and a beta of 1.89. Ellington Credit has a twelve month low of $5.09 and a twelve month high of $7.64.

Ellington Credit (NYSE:EARNGet Free Report) last released its quarterly earnings data on Tuesday, May 14th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $0.28 million during the quarter, compared to analyst estimates of $4.02 million. During the same period in the previous year, the business earned $0.21 earnings per share. As a group, equities analysts forecast that Ellington Credit will post 1.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, JMP Securities reissued a “market perform” rating on shares of Ellington Credit in a research report on Thursday, April 18th.

View Our Latest Stock Report on EARN

Ellington Credit Company Profile

(Get Free Report)

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.

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Dividend History for Ellington Credit (NYSE:EARN)

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