Ellington Credit (NYSE:EARN) Declares Monthly Dividend of $0.08

Ellington Credit (NYSE:EARN) declared a monthly dividend on Monday, February 10th,Wall Street Journal reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.08 per share by the real estate investment trust on Tuesday, March 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.63%. The ex-dividend date of this dividend is Friday, February 28th.

Ellington Credit has a dividend payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Ellington Credit to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 85.0%.

Ellington Credit Stock Up 0.9 %

NYSE:EARN traded up $0.06 during mid-day trading on Tuesday, reaching $6.56. The company’s stock had a trading volume of 754,536 shares, compared to its average volume of 618,464. The firm has a market capitalization of $191.42 million, a PE ratio of 5.86 and a beta of 1.85. The stock has a fifty day moving average of $6.63 and a 200-day moving average of $6.75. Ellington Credit has a 1 year low of $5.57 and a 1 year high of $7.26.

Ellington Credit (NYSE:EARN) last released its quarterly earnings data on Tuesday, November 12th. 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. The firm had revenue of $4.75 million for the quarter, compared to the consensus estimate of $7.55 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. During the same period last year, the firm earned $0.21 earnings per share. On average, analysts expect that Ellington Credit will post 1.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Ellington Credit from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

About Ellington Credit

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.