Ellington Credit (NYSE:EARN – Get Free Report) 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.
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.
Read Our Latest Stock Report on Ellington Credit
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.
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