Ellington Credit Company (NYSE:EARN) Shareholders Set to Receive $0.08 Monthly Dividend

Ellington Credit Company (NYSE:EARN) announced a monthly dividend on Wednesday, October 7th. Stockholders of record on Friday, October 30th will be given a dividend of $0.08 per share by the real estate investment trust on Monday, November 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 27.7%. The ex-dividend date of this dividend is Friday, October 30th.

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

Ellington Credit Trading Down 2.9%

NYSE:EARN traded down $0.10 during trading hours on Wednesday, hitting $3.47. The stock had a trading volume of 1,074,908 shares, compared to its average volume of 436,289. The company has a market cap of $132.34 million, a PE ratio of -3.54 and a beta of 1.32. The business has a 50 day simple moving average of $4.29 and a two-hundred day simple moving average of $4.48. Ellington Credit has a 1-year low of $3.29 and a 1-year high of $5.72.

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

Ellington Credit Company Profile

Ellington Credit Company (NYSE: EARN) is a real estate investment trust focused on the residential mortgage market. The company invests in residential mortgage assets, including residential mortgage-backed securities and residential mortgage loans, with an emphasis on assets that generate income from housing-related credit and financing activities.

Its portfolio may include agency and non-agency mortgage-backed securities, as well as other residential mortgage investments. Agency securities are generally backed or guaranteed by U.S.