Ellington Credit (NYSE:EARN) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Ellington Credit (NYSE:EARN) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01, Zacks reports. The company had revenue of $4.75 million during the quarter, compared to the consensus estimate of $7.55 million. Ellington Credit had a return on equity of 17.20% and a net margin of 226.01%. During the same quarter in the prior year, the firm earned $0.21 EPS.

Ellington Credit Stock Performance

Shares of EARN opened at $6.47 on Thursday. The firm has a market cap of $163.89 million, a PE ratio of 5.68 and a beta of 1.87. The firm’s 50 day moving average price is $6.80 and its 200 day moving average price is $6.92. Ellington Credit has a twelve month low of $5.54 and a twelve month high of $7.26.

Ellington Credit Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.84%. The ex-dividend date is Friday, November 29th. Ellington Credit’s dividend payout ratio (DPR) is presently 85.71%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Ellington Credit from a “hold” rating to a “sell” rating in a research note on Tuesday.

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.