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

Ellington Credit Company (NYSE:EARN) announced a monthly dividend on Monday, June 8th. Investors 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 21.0%. The ex-dividend date is Tuesday, June 30th.

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

Ellington Credit Trading Up 1.6%

NYSE:EARN opened at $4.56 on Friday. Ellington Credit has a twelve month low of $4.27 and a twelve month high of $6.08. The company has a market cap of $171.44 million, a PE ratio of -4.39 and a beta of 1.26. The company’s 50 day moving average is $4.68 and its two-hundred day moving average is $4.92.

Ellington Credit (NYSE:EARN) last posted its quarterly 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). Ellington Credit had a positive return on equity of 16.47% and a negative net margin of 75.00%.The company had revenue of $9.87 million during the quarter, compared to analysts’ expectations of $10.57 million.

Institutional Trading of Ellington Credit

Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC grew its position in shares of Ellington Credit by 70.8% during the 4th quarter. Jane Street Group LLC now owns 135,107 shares of the real estate investment trust’s stock valued at $712,000 after acquiring an additional 56,012 shares during the period. Goldman Sachs Group Inc. raised its holdings in Ellington Credit by 56.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 126,864 shares of the real estate investment trust’s stock worth $686,000 after purchasing an additional 45,845 shares during the period. Osaic Holdings Inc. raised its holdings in Ellington Credit by 60.3% in the 2nd quarter. Osaic Holdings Inc. now owns 104,689 shares of the real estate investment trust’s stock worth $602,000 after purchasing an additional 39,392 shares during the period. Envestnet Asset Management Inc. boosted its position in Ellington Credit by 6.5% during the third quarter. Envestnet Asset Management Inc. now owns 76,237 shares of the real estate investment trust’s stock worth $415,000 after purchasing an additional 4,675 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in shares of Ellington Credit in the fourth quarter valued at approximately $369,000. Hedge funds and other institutional investors own 20.40% of the company’s stock.

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.