Ellington Credit Company (EARN) to Issue Monthly Dividend of $0.08 on September 30th

Ellington Credit Company (NYSE:EARN) announced a monthly dividend on Monday, August 10th. Investors of record on Monday, August 31st will be given a dividend of 0.08 per share by the real estate investment trust on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 22.0%. The ex-dividend date is Monday, August 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 Price Performance

Shares of EARN stock opened at $4.37 on Wednesday. The company’s fifty day moving average price is $4.45 and its two-hundred day moving average price is $4.70. The firm has a market capitalization of $164.04 million, a P/E ratio of -4.20 and a beta of 1.28. Ellington Credit has a 12 month low of $4.25 and a 12 month high of $5.89.

Ellington Credit (NYSE:EARN) last announced its earnings results on Wednesday, May 20th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.03). The firm had revenue of $9.87 million during the quarter, compared to the consensus estimate of $10.57 million.

Analyst Ratings Changes

Separately, Piper Sandler reduced their price target on Ellington Credit from $5.25 to $5.00 and set an “overweight” rating for the company in a report on Monday, July 13th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $5.50.

About Ellington Credit

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.