Ellington Residential Mortgage REIT (NYSE:EARN) Plans $0.08 Monthly Dividend

Ellington Residential Mortgage REIT (NYSE:EARN) announced a monthly dividend on Tuesday, May 7th, Wall Street Journal reports. Investors of record on Friday, May 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, June 25th. This represents a $0.96 annualized dividend and a yield of 13.62%. The ex-dividend date of this dividend is Friday, May 31st.

Ellington Residential Mortgage REIT has raised its dividend by an average of 39.3% per year over the last three years. Ellington Residential Mortgage REIT has a payout ratio of 87.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Ellington Residential Mortgage REIT to earn $1.02 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 94.1%.

Ellington Residential Mortgage REIT Price Performance

NYSE:EARN remained flat at $7.05 during mid-day trading on Thursday. 93,478 shares of the company traded hands, compared to its average volume of 245,351. Ellington Residential Mortgage REIT has a one year low of $5.09 and a one year high of $7.64. The stock has a market cap of $139.73 million, a PE ratio of 27.04 and a beta of 1.86. The stock has a 50 day moving average price of $6.63 and a 200 day moving average price of $6.20.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Ellington Residential Mortgage REIT in a research report on Thursday, April 18th. StockNews.com upgraded Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a report on Thursday, March 7th.

About Ellington Residential Mortgage REIT

Ellington Residential Mortgage REIT, 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.