Ellington Credit (NYSE:EARN) Issues Earnings Results

Ellington Credit (NYSE:EARN) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01, Zacks reports. The company had revenue of $4.75 million during 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 17.20%. During the same quarter last year, the firm posted $0.21 EPS.

Ellington Credit Stock Down 0.8 %

Shares of NYSE EARN traded down $0.05 during mid-day trading on Thursday, reaching $6.32. 67,258 shares of the company were exchanged, compared to its average volume of 324,199. The stock has a market capitalization of $160.09 million, a P/E ratio of 5.68 and a beta of 1.87. The company’s 50-day simple moving average is $6.80 and its 200-day simple moving average is $6.92. Ellington Credit has a twelve month low of $5.54 and a twelve month high of $7.26.

Ellington Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Friday, November 29th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 15.19%. Ellington Credit’s dividend payout ratio is currently 85.71%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Ellington Credit from a “hold” rating to a “sell” rating in a research report on Tuesday.

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.