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

Ellington Credit (NYSE:EARN) announced a monthly dividend on Monday, June 10th, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.08 per share by the real estate investment trust on Thursday, July 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 13.31%. The ex-dividend date of this dividend is Friday, June 28th.

Ellington Credit has increased its dividend payment by an average of 39.3% annually over the last three years. Ellington Credit has a dividend payout ratio of 84.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Ellington Credit to earn $1.08 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 88.9%.

Ellington Credit Stock Up 0.1 %

EARN stock opened at $7.21 on Thursday. The company has a market cap of $145.21 million, a PE ratio of 24.79 and a beta of 1.87. The business has a 50-day simple moving average of $6.97 and a 200 day simple moving average of $6.51. Ellington Credit has a 52 week low of $5.09 and a 52 week high of $7.64.

Ellington Credit (NYSE:EARN) last posted its quarterly earnings results on Tuesday, May 14th. The real estate investment trust reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $0.28 million during the quarter, compared to analyst estimates of $4.02 million. During the same period last year, the firm earned $0.21 EPS. On average, analysts anticipate that Ellington Credit will post 1.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on EARN shares. JMP Securities reiterated a “market perform” rating on shares of Ellington Credit in a research report on Thursday, April 18th. StockNews.com upgraded Ellington Credit from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th.

About Ellington Credit

Ellington Credit Company, 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.