Ellington Credit (NYSE:EARN) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Ellington Credit (NYSE:EARN) posted its earnings results on Wednesday. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01, Zacks reports. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%.

Ellington Credit Stock Performance

EARN traded down $0.02 during mid-day trading on Wednesday, reaching $6.11. The stock had a trading volume of 861,109 shares, compared to its average volume of 420,888. The stock has a market capitalization of $178.13 million, a P/E ratio of 5.45 and a beta of 1.96. Ellington Credit has a 52 week low of $6.04 and a 52 week high of $7.26. The firm’s fifty day simple moving average is $6.54 and its two-hundred day simple moving average is $6.69.

Ellington Credit Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 15.72%. The ex-dividend date of this dividend is Monday, March 31st. Ellington Credit’s dividend payout ratio is 85.71%.

Wall Street Analysts Forecast Growth

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

Ellington Credit Company Profile

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.