Ellington Credit Company (NYSE:EARN – Get Free Report) declared a monthly dividend on Thursday, November 5th. Investors of record on Monday, November 30th will be given a dividend of $0.08 per share by the real estate investment trust on Thursday, December 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 30.4%. The ex-dividend date of this dividend is Monday, November 30th.
Ellington Credit has a 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 tumble.
Ellington Credit Stock Performance
Shares of Ellington Credit stock opened at $3.15 on Friday. The business’s 50 day simple moving average is $3.89 and its 200 day simple moving average is $4.49. Ellington Credit has a 52-week low of $3.13 and a 52-week high of $5.72. The firm has a market cap of $120.35 million, a PE ratio of -3.22 and a beta of 1.32.
Ellington Credit (NYSE:EARN – Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The real estate investment trust reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.05). The firm had revenue of $6.08 million for the quarter, compared to the consensus estimate of $10.57 million.
Wall Street Analyst Weigh In
Separately, Piper Sandler decreased their price target on Ellington Credit from $5.00 to $4.50 and set an “overweight” rating for the company in a research note on Monday, October 19th. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $5.25.
View Our Latest Stock Report on EARN
About Ellington Credit
Ellington Credit Corporation (NYSE:EARN) is a real estate investment trust focused primarily on residential mortgage credit. The company invests in residential mortgage-backed securities, residential mortgage loans and other residential real estate-related assets, with an emphasis on credit-sensitive investments that may offer exposure to different segments of the housing finance market.
Ellington Credit is externally managed by Ellington Residential Mortgage LP, an affiliate of Ellington Management Group.
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