Ellington Credit (EARN) to Issue Monthly Dividend of $0.08 on April 25th

Ellington Credit (NYSE:EARN) declared a monthly dividend on Friday, March 7th, NASDAQ Dividends reports. Investors of record on Monday, March 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Friday, April 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 16.48%. The ex-dividend date is Monday, March 31st.

Ellington Credit has a payout ratio of 85.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research 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 Price Performance

Shares of EARN opened at $5.83 on Friday. Ellington Credit has a 1 year low of $5.68 and a 1 year high of $7.26. The stock has a 50 day simple moving average of $6.35 and a two-hundred day simple moving average of $6.59. The firm has a market cap of $169.96 million, a P/E ratio of 5.20 and a beta of 1.96.

Ellington Credit (NYSE:EARN) last announced its quarterly earnings data on Wednesday, March 12th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $6.14 million during the quarter, compared to analysts’ expectations of $9.65 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. On average, equities analysts anticipate that Ellington Credit will post 1.17 earnings per share for the current year.

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.