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

Ellington Credit (NYSE:EARN) announced a monthly dividend on Monday, September 9th, NASDAQ reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Friday, October 25th. This represents a $0.96 annualized dividend and a yield of 13.73%. The ex-dividend date is Monday, September 30th.

Ellington Credit has increased its dividend payment by an average of 39.3% annually over the last three years. Ellington Credit has a dividend payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Ellington Credit to earn $1.10 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 87.3%.

Ellington Credit Stock Performance

Shares of EARN opened at $6.99 on Friday. Ellington Credit has a fifty-two week low of $5.09 and a fifty-two week high of $7.26. The firm has a market cap of $143.12 million, a price-to-earnings ratio of 24.10 and a beta of 1.87. The firm has a 50 day moving average price of $6.93 and a 200-day moving average price of $6.91.

Ellington Credit (NYSE:EARN) last posted its quarterly earnings results on Monday, August 12th. The real estate investment trust reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.12. The business had revenue of $3.90 million during the quarter, compared to the consensus estimate of $6.35 million. During the same period in the prior year, the firm earned $0.17 earnings per share. As a group, equities research analysts predict that Ellington Credit will post 1.16 earnings per share for the current year.

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.