Ellington Credit Company (NYSE:EARN – Get Free Report) declared a monthly dividend on Thursday, November 5th. Investors of record on Monday, November 30th will be given a dividend of $0.08 per share by the real estate investment trust on Thursday, December 31st. This represents a $0.96 annualized dividend and a yield of 29.8%. The ex-dividend date is Monday, November 30th.
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 decline.
Ellington Credit Trading Up 2.4%
Shares of EARN opened at $3.23 on Friday. The business’s fifty day simple moving average is $3.89 and its two-hundred day simple moving average is $4.49. Ellington Credit has a 12 month low of $3.13 and a 12 month high of $5.72. The company has a market cap of $123.10 million, a price-to-earnings ratio of -3.28 and a beta of 1.32.
Ellington Credit (NYSE:EARN – Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.05). The firm had revenue of $6.08 million during the quarter, compared to analysts’ expectations of $10.57 million.
Wall Street Analyst Weigh In
Separately, Piper Sandler lowered their price objective on shares of Ellington Credit from $5.00 to $4.50 and set an “overweight” rating on the stock in a research report on Monday, October 19th. One analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $5.25.
Read Our Latest Analysis on EARN
About Ellington Credit
Ellington Credit Corporation (NYSE:EARN) is a real estate investment trust focused primarily on residential mortgage credit. The company invests in residential mortgage-backed securities, residential mortgage loans and other residential real estate-related assets, with an emphasis on credit-sensitive investments that may offer exposure to different segments of the housing finance market.
Ellington Credit is externally managed by Ellington Residential Mortgage LP, an affiliate of Ellington Management Group.
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