Ellington Credit Company (EARN) To Go Ex-Dividend on January 30th

Ellington Credit Company (NYSE:EARN) declared a monthly dividend on Thursday, January 8th. Investors of record on Friday, January 30th will be given a dividend of 0.08 per share by the real estate investment trust on Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 17.4%. The ex-dividend date of this dividend is Friday, January 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 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. 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 Up 2.2%

Shares of EARN stock opened at $5.53 on Friday. The business has a 50-day moving average price of $5.27 and a two-hundred day moving average price of $5.50. Ellington Credit has a 12-month low of $4.32 and a 12-month high of $6.82. The firm has a market cap of $207.59 million, a P/E ratio of 69.10 and a beta of 1.28.

Ellington Credit (NYSE:EARN) last announced its quarterly earnings data on Wednesday, November 19th. The real estate investment trust reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. The firm had revenue of $11.88 million for the quarter, compared to analyst estimates of $11.41 million. Ellington Credit had a return on equity of 16.47% and a net margin of 12.41%. As a group, research analysts expect that Ellington Credit will post 1.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Ellington Credit

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EARN. Millennium Management LLC boosted its position in Ellington Credit by 485.8% during the 1st quarter. Millennium Management LLC now owns 932,326 shares of the real estate investment trust’s stock valued at $5,044,000 after buying an additional 773,169 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Ellington Credit by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 126,864 shares of the real estate investment trust’s stock valued at $686,000 after acquiring an additional 45,845 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Ellington Credit by 415.4% during the first quarter. Jane Street Group LLC now owns 379,906 shares of the real estate investment trust’s stock worth $2,055,000 after purchasing an additional 306,192 shares during the period. Clear Harbor Asset Management LLC boosted its holdings in shares of Ellington Credit by 21.6% during the second quarter. Clear Harbor Asset Management LLC now owns 350,500 shares of the real estate investment trust’s stock worth $2,015,000 after purchasing an additional 62,200 shares during the period. Finally, Bogart Wealth LLC grew its stake in shares of Ellington Credit by 62.5% in the second quarter. Bogart Wealth LLC now owns 5,200 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 2,000 shares during the last quarter. 20.40% of the stock is currently owned by institutional investors.

About Ellington Credit

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.