Ellington Credit Company (EARN) To Go Ex-Dividend on April 30th

Ellington Credit Company (NYSE:EARN) declared a monthly dividend on Tuesday, April 7th. Investors of record on Thursday, April 30th will be given a dividend of 0.08 per share by the real estate investment trust on Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 20.6%. The ex-dividend date of this dividend is Thursday, April 30th.

Ellington Credit has decreased its dividend payment by an average of 0.0%per year over the last three years. Ellington Credit has a dividend payout ratio of 88.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Ellington Credit to earn $1.13 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 85.0%.

Ellington Credit Trading Up 3.4%

NYSE:EARN opened at $4.66 on Thursday. The firm has a market capitalization of $174.89 million, a price-to-earnings ratio of -11.35 and a beta of 1.29. The firm’s fifty day simple moving average is $4.84 and its 200 day simple moving average is $5.16. Ellington Credit has a twelve month low of $4.27 and a twelve month high of $6.08.

Ellington Credit (NYSE:EARN) last posted its earnings results on Wednesday, March 4th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.03). The business had revenue of $11.12 million for the quarter, compared to analyst estimates of $12.71 million. Ellington Credit had a negative net margin of 34.31% and a positive return on equity of 16.47%. On average, analysts predict that Ellington Credit will post 1.17 earnings per share for the current year.

Institutional Investors Weigh In On Ellington Credit

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in Ellington Credit during the fourth quarter worth about $57,000. Quadrature Capital Ltd acquired a new stake in Ellington Credit during the fourth quarter worth about $75,000. Engineers Gate Manager LP acquired a new stake in Ellington Credit during the second quarter worth about $83,000. World Investment Advisors acquired a new stake in Ellington Credit during the fourth quarter worth about $115,000. Finally, Vident Advisory LLC raised its stake in Ellington Credit by 109.1% during the second quarter. Vident Advisory LLC now owns 36,350 shares of the real estate investment trust’s stock worth $209,000 after acquiring an additional 18,967 shares during the period. Institutional investors and hedge funds own 20.40% of the company’s stock.

About Ellington Credit

Ellington Credit Income Fund (NYSE: EARN) is a closed-end management investment company that seeks to generate current income through a diversified portfolio of mortgage- and asset-backed securities. The fund primarily invests in residential mortgage-backed securities (RMBS) and asset-backed securities (ABS), with additional exposure to commercial mortgage-backed securities (CMBS) and related structured credit instruments. To enhance income and manage risk, the fund employs leverage and derivative strategies such as interest rate swaps and credit default swaps, allowing it to adjust duration and credit exposure dynamically.

The fund is externally managed and advised by Ellington Management Group, LLC, an established investment firm specializing in mortgage credit and structured products.