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

Ellington Credit Company (NYSE:EARN) declared a monthly dividend on Monday, February 9th. Investors of record on Friday, February 27th will be given a dividend of 0.08 per share by the real estate investment trust on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 18.2%. The ex-dividend date is Friday, February 27th.

Ellington Credit has decreased its dividend payment by an average of 0.0%annually 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. Equities 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 Price Performance

Shares of Ellington Credit stock opened at $5.28 on Tuesday. The company has a market cap of $198.13 million, a PE ratio of 65.95 and a beta of 1.27. The firm has a fifty day moving average price of $5.37 and a two-hundred day moving average price of $5.45. Ellington Credit has a fifty-two week low of $4.32 and a fifty-two week high of $6.60.

Ellington Credit (NYSE:EARN) last announced its quarterly earnings data on Wednesday, November 19th. The real estate investment trust reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Ellington Credit had a net margin of 12.41% and a return on equity of 16.47%. The business had revenue of $11.88 million during the quarter, compared to analyst estimates of $11.41 million. Analysts expect that Ellington Credit will post 1.17 earnings per share for the current fiscal year.

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.