Ellington Residential Mortgage REIT (NYSE:EARN) Announces Monthly Dividend of $0.08

Posted by Geri Gentry on Apr 28th, 2024

Ellington Residential Mortgage REIT (NYSE:EARN – Get Free Report) announced a monthly dividend on Monday, April 8th, Zacks reports. Stockholders of record on Tuesday, April 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, May 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.20%. The ex-dividend date of this dividend is Monday, April 29th.

Ellington Residential Mortgage REIT has decreased its dividend payment by an average of 5.0% per year over the last three years. Ellington Residential Mortgage REIT has a dividend payout ratio of 87.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Ellington Residential Mortgage REIT to earn $1.02 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 94.1%.

Ellington Residential Mortgage REIT Trading Up 0.6 %

EARN stock opened at $6.76 on Friday. The stock has a market capitalization of $133.98 million, a PE ratio of 26.00 and a beta of 1.87. Ellington Residential Mortgage REIT has a 12-month low of $5.09 and a 12-month high of $7.64. The stock’s 50 day simple moving average is $6.49 and its 200 day simple moving average is $6.14.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. StockNews.com raised Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th. JMP Securities reaffirmed a “market perform” rating on shares of Ellington Residential Mortgage REIT in a research report on Thursday, April 18th.

Check Out Our Latest Research Report on Ellington Residential Mortgage REIT

Ellington Residential Mortgage REIT Company Profile

(Get Free Report)

Ellington Residential Mortgage REIT, 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.