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

Ellington Credit Company (NYSE:EARN) declared a monthly dividend on Wednesday, July 8th. Investors of record on Friday, July 31st will be given a dividend of 0.08 per share by the real estate investment trust on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 21.9%. The ex-dividend date of this dividend is Friday, July 31st.

Ellington Credit has decreased its dividend payment by an average of 0.0%per year over the last three years. Ellington Credit has a payout ratio of 88.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Ellington Credit Price Performance

Shares of Ellington Credit stock opened at $4.38 on Thursday. Ellington Credit has a 1 year low of $4.27 and a 1 year high of $6.08. The firm has a market cap of $164.79 million, a PE ratio of -4.22 and a beta of 1.27. The company has a 50 day simple moving average of $4.64 and a two-hundred day simple moving average of $4.87.

Ellington Credit (NYSE:EARN) last posted its quarterly earnings data on Wednesday, May 20th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.03). The firm had revenue of $9.87 million for the quarter, compared to analysts’ expectations of $10.57 million.

Institutional Investors Weigh In On Ellington Credit

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in Ellington Credit in the 4th quarter worth $57,000. McIlrath & Eck LLC grew its stake in shares of Ellington Credit by 122.4% in the first quarter. McIlrath & Eck LLC now owns 10,969 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 6,038 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Ellington Credit in the fourth quarter worth about $75,000. Engineers Gate Manager LP purchased a new position in Ellington Credit during the 2nd quarter valued at about $83,000. Finally, World Investment Advisors purchased a new position in Ellington Credit during the 4th quarter valued at about $115,000. 20.40% of the stock is currently owned by institutional investors.

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.