Ellington Credit Company (NYSE:EARN) Shares Will Pay Monthly Dividend of $0.08

Ellington Credit Company (NYSE:EARN) declared a monthly dividend on Thursday, November 5th. Investors of record on Monday, November 30th will be paid a dividend of $0.08 per share by the real estate investment trust on Thursday, December 31st. This represents a $0.96 annualized dividend and a yield of 30.4%. The ex-dividend date of this dividend is Monday, November 30th.

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 decline.

Ellington Credit Stock Performance

Shares of Ellington Credit stock opened at $3.15 on Friday. The firm has a market cap of $120.35 million, a P/E ratio of -3.22 and a beta of 1.32. The firm’s 50-day simple moving average is $3.89 and its 200-day simple moving average is $4.49. Ellington Credit has a twelve month low of $3.13 and a twelve month high of $5.72.

Ellington Credit (NYSE:EARN) last announced its quarterly earnings results on Wednesday, August 12th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.05). The business had revenue of $6.08 million during the quarter, compared to analysts’ expectations of $10.57 million.

Ellington Credit Company Profile

Ellington Credit Corporation (NYSE:EARN) is a real estate investment trust focused primarily on residential mortgage credit. The company invests in residential mortgage-backed securities, residential mortgage loans and other residential real estate-related assets, with an emphasis on credit-sensitive investments that may offer exposure to different segments of the housing finance market.

Ellington Credit is externally managed by Ellington Residential Mortgage LP, an affiliate of Ellington Management Group.