Ellington Credit (EARN) To Go Ex-Dividend on December 31st

Ellington Credit (NYSE:EARN) declared a monthly dividend on Friday, December 6th,NASDAQ Dividends reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Monday, January 27th. This represents a $0.96 annualized dividend and a dividend yield of 14.44%. The ex-dividend date is Tuesday, December 31st.

Ellington Credit has increased its dividend by an average of 39.3% annually over the last three years. Ellington Credit has a dividend payout ratio of 84.2% meaning 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 Stock Performance

Shares of EARN opened at $6.65 on Friday. The firm has a market cap of $194.03 million, a P/E ratio of 5.94 and a beta of 1.86. Ellington Credit has a 52 week low of $5.54 and a 52 week high of $7.26. The firm’s 50-day simple moving average is $6.67 and its 200 day simple moving average is $6.84.

Ellington Credit (NYSE:EARN) last posted its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $4.75 million for the quarter, compared to the consensus estimate of $7.55 million. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. During the same quarter in the prior year, the business earned $0.21 earnings per share. As a group, equities analysts forecast that Ellington Credit will post 1.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Ellington Credit from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

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.