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

Ellington Credit Company (NYSE:EARN) announced a monthly dividend on Monday, June 8th. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.08 per share by the real estate investment trust on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 20.7%. The ex-dividend date of this dividend is Tuesday, June 30th.

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

Ellington Credit Stock Down 0.5%

NYSE EARN opened at $4.64 on Tuesday. The stock has a market capitalization of $174.18 million, a PE ratio of -4.46 and a beta of 1.27. The company has a 50 day moving average price of $4.69 and a two-hundred day moving average price of $5.00. Ellington Credit has a 12-month low of $4.27 and a 12-month high of $6.08.

Ellington Credit (NYSE:EARN) last posted its earnings results on Wednesday, May 20th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). The business had revenue of $9.87 million during the quarter, compared to analyst estimates of $10.57 million. Ellington Credit had a negative net margin of 75.00% and a positive return on equity of 16.47%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Ellington Credit from $6.00 to $5.50 and set an “overweight” rating for the company in a research note on Friday, March 6th. Wall Street Zen upgraded shares of Ellington Credit from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.75.

Ellington Credit Company Profile

Ellington Credit Income Fund (NYSE: EARN) is a closed-end management investment company that seeks to generate current income through a diversified portfolio of mortgage- and asset-backed securities. The fund primarily invests in residential mortgage-backed securities (RMBS) and asset-backed securities (ABS), with additional exposure to commercial mortgage-backed securities (CMBS) and related structured credit instruments. To enhance income and manage risk, the fund employs leverage and derivative strategies such as interest rate swaps and credit default swaps, allowing it to adjust duration and credit exposure dynamically.

The fund is externally managed and advised by Ellington Management Group, LLC, an established investment firm specializing in mortgage credit and structured products.