Ellington Credit (NYSE:EARN) Announces Earnings Results

Ellington Credit (NYSE:EARN) announced its quarterly earnings results on Monday. The real estate investment trust reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12, Zacks reports. The business had revenue of $3.90 million for the quarter, compared to the consensus estimate of $6.35 million. During the same quarter last year, the firm posted $0.17 EPS.

Ellington Credit Stock Performance

EARN traded up $0.27 during mid-day trading on Tuesday, reaching $6.99. 362,207 shares of the stock were exchanged, compared to its average volume of 292,215. The stock has a market capitalization of $143.12 million, a PE ratio of 23.17 and a beta of 1.89. The company has a 50 day moving average price of $6.97 and a two-hundred day moving average price of $6.69. Ellington Credit has a 1 year low of $5.09 and a 1 year high of $7.26.

Ellington Credit Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a yield of 13.73%. Ellington Credit’s dividend payout ratio (DPR) is presently 331.03%.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a “market perform” rating on shares of Ellington Credit in a research note on Thursday, April 18th.

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.