Ellington Credit (EARN) To Go Ex-Dividend on February 28th

Ellington Credit (NYSE:EARN) declared a monthly dividend on Monday, February 10th,Wall Street Journal reports. Shareholders of record on Friday, February 28th will be given 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 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 fall. 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 Trading Up 0.9 %

Shares of Ellington Credit stock opened at $6.56 on Wednesday. The company has a 50-day moving average of $6.63 and a two-hundred day moving average of $6.75. Ellington Credit has a 12-month low of $5.57 and a 12-month high of $7.26. The stock has a market cap of $191.42 million, a PE 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, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $4.75 million for 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 period in the prior year, the business earned $0.21 earnings per share. On average, sell-side analysts forecast that Ellington Credit will post 1.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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