Ellington Credit (NYSE:EARN) Issues Quarterly Earnings Results

Ellington Credit (NYSE:EARN) issued its earnings results on Tuesday. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01, Zacks reports. 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 17.20%. During the same quarter in the prior year, the business posted $0.21 EPS.

Ellington Credit Price Performance

Shares of EARN stock opened at $6.47 on Thursday. Ellington Credit has a 12-month low of $5.54 and a 12-month high of $7.26. The firm has a market capitalization of $163.89 million, a price-to-earnings ratio of 5.68 and a beta of 1.87. The business has a 50 day simple moving average of $6.80 and a 200 day simple moving average of $6.92.

Ellington Credit Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.84%. Ellington Credit’s dividend payout ratio (DPR) is presently 85.71%.

Wall Street Analysts Forecast Growth

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

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.