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

Ellington Credit (NYSE:EARN) declared a monthly dividend on Friday, December 6th,NASDAQ Dividends reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.08 per share by the real estate investment trust on Monday, January 27th. This represents a $0.96 annualized dividend and a yield of 14.44%. The ex-dividend date is Tuesday, December 31st.

Ellington Credit has increased its dividend payment by an average of 39.3% per year over the last three years. Ellington Credit has a dividend payout ratio of 84.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research 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 Trading Up 0.3 %

Shares of Ellington Credit stock opened at $6.65 on Friday. The company has a market cap of $194.03 million, a PE ratio of 5.94 and a beta of 1.86. The company has a 50 day moving average of $6.67 and a 200-day moving average of $6.84. Ellington Credit has a 1-year low of $5.54 and a 1-year high of $7.26.

Ellington Credit (NYSE:EARN) last released its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. The firm had revenue of $4.75 million during the quarter, compared to analysts’ expectations of $7.55 million. During the same period in the prior year, the company earned $0.21 earnings per share. Research analysts forecast that Ellington Credit will post 1.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Ellington Credit from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th.

Ellington Credit Company Profile

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.