Ellington Credit (EARN) to Issue Monthly Dividend of $0.08 on January 27th

Ellington Credit (NYSE:EARN) announced a monthly dividend on Friday, December 6th,NASDAQ Dividends reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.08 per share by the real estate investment trust on Monday, January 27th. This represents a $0.96 annualized dividend and a yield of 14.01%. The ex-dividend date is Tuesday, December 31st.

Ellington Credit has increased its dividend by an average of 39.3% per year over the last three years. Ellington Credit has a payout ratio of 84.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 Performance

EARN opened at $6.85 on Friday. The company’s 50-day simple moving average is $6.71 and its two-hundred day simple moving average is $6.88. Ellington Credit has a 52-week low of $5.54 and a 52-week high of $7.26. The stock has a market capitalization of $197.28 million, a P/E ratio of 6.12 and a beta of 1.86.

Ellington Credit (NYSE:EARN) last issued its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $4.75 million for the quarter, compared to analysts’ expectations of $7.55 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. During the same quarter last year, the company posted $0.21 earnings per share. Research analysts forecast that Ellington Credit will post 1.17 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of 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.