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

Ellington Credit (NYSE:EARN) declared a monthly dividend on Monday, February 10th,Wall Street Journal reports. Investors of record on Friday, February 28th will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, March 25th. This represents a $0.96 annualized dividend and a yield of 14.63%. The ex-dividend date of this dividend is Friday, February 28th.

Ellington Credit has a dividend payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Up 0.9 %

EARN opened at $6.56 on Wednesday. The company’s 50-day moving average price is $6.63 and its 200 day moving average price is $6.75. Ellington Credit has a fifty-two week low of $5.57 and a fifty-two week high of $7.26. The firm has a market cap of $191.42 million, a price-to-earnings ratio of 5.86 and a beta of 1.85.

Ellington Credit (NYSE:EARN) last released its quarterly earnings results 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 business had revenue of $4.75 million during the quarter, compared to analyst estimates of $7.55 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. During the same quarter in the prior year, the firm earned $0.21 earnings per share. Research analysts anticipate that Ellington Credit will post 1.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Ellington Credit Company Profile

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.