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

Ellington Credit (NYSE:EARN) announced a monthly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Friday, November 29th will be paid a dividend of 0.08 per share by the real estate investment trust on Thursday, December 26th. This represents a $0.96 annualized dividend and a dividend yield of 14.01%. The ex-dividend date of this dividend is Friday, November 29th.

Ellington Credit has increased its dividend by an average of 39.3% annually over the last three years. Ellington Credit has a 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. 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 Trading Up 1.5 %

Shares of EARN opened at $6.85 on Thursday. The company has a market cap of $197.28 million, a price-to-earnings ratio of 6.08 and a beta of 1.87. The business’s fifty day simple moving average is $6.75 and its two-hundred day simple moving average is $6.90. Ellington Credit has a 12 month low of $5.54 and a 12 month high of $7.26.

Ellington Credit (NYSE:EARN) last released its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. 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 15.81% and a net margin of 226.01%. During the same period last year, the company earned $0.21 EPS. As a group, research analysts forecast that Ellington Credit will post 1.17 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Ellington Credit from a “sell” rating to a “hold” rating in a research 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.