Ellington Credit Company (EARN) To Go Ex-Dividend on July 31st

Ellington Credit Company (NYSE:EARN) declared a monthly dividend on Wednesday, July 8th. Stockholders of record on Friday, July 31st will be given a dividend of 0.08 per share by the real estate investment trust on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 21.6%. The ex-dividend date of this dividend is Friday, July 31st.

Ellington Credit has decreased its dividend by an average of 0.0%annually over the last three years. Ellington Credit has a dividend payout ratio of 88.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Ellington Credit Stock Performance

Shares of EARN opened at $4.45 on Wednesday. Ellington Credit has a 1 year low of $4.27 and a 1 year high of $6.06. The company’s 50 day simple moving average is $4.53 and its 200 day simple moving average is $4.78. The company has a market capitalization of $167.06 million, a price-to-earnings ratio of -4.27 and a beta of 1.27.

Ellington Credit (NYSE:EARN) last released its earnings results on Wednesday, May 20th. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.03). The business had revenue of $9.87 million for the quarter, compared to analysts’ expectations of $10.57 million.

Hedge Funds Weigh In On Ellington Credit

Several institutional investors and hedge funds have recently bought and sold shares of EARN. Focus Financial Network Inc. purchased a new position in Ellington Credit during the second quarter worth approximately $154,000. McIlrath & Eck LLC grew its stake in shares of Ellington Credit by 122.4% during the 1st quarter. McIlrath & Eck LLC now owns 10,969 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 6,038 shares during the period. Waverly Advisors LLC increased its holdings in shares of Ellington Credit by 85.8% during the 1st quarter. Waverly Advisors LLC now owns 167,250 shares of the real estate investment trust’s stock worth $741,000 after buying an additional 77,250 shares during the last quarter. World Investment Advisors purchased a new position in shares of Ellington Credit in the 4th quarter worth $115,000. Finally, Virtu Financial LLC purchased a new position in shares of Ellington Credit in the 4th quarter worth $57,000. Institutional investors and hedge funds own 20.40% of the company’s stock.

Ellington Credit Company Profile

Ellington Credit Income Fund (NYSE: EARN) is a closed-end management investment company that seeks to generate current income through a diversified portfolio of mortgage- and asset-backed securities. The fund primarily invests in residential mortgage-backed securities (RMBS) and asset-backed securities (ABS), with additional exposure to commercial mortgage-backed securities (CMBS) and related structured credit instruments. To enhance income and manage risk, the fund employs leverage and derivative strategies such as interest rate swaps and credit default swaps, allowing it to adjust duration and credit exposure dynamically.

The fund is externally managed and advised by Ellington Management Group, LLC, an established investment firm specializing in mortgage credit and structured products.