Ellington Credit Company (EARN) To Go Ex-Dividend on November 28th

Ellington Credit Company (NYSE:EARN) announced a monthly dividend on Monday, November 10th. Shareholders of record on Friday, November 28th will be given a dividend of 0.08 per share by the real estate investment trust on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a yield of 18.2%. The ex-dividend date is Friday, November 28th.

Ellington Credit has decreased its dividend by an average of 0.0%per year over the last three years. Ellington Credit has a dividend 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 decline. Equities 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 Stock Performance

Ellington Credit stock opened at $5.29 on Wednesday. The firm has a market cap of $198.50 million, a price-to-earnings ratio of 29.36 and a beta of 1.32. Ellington Credit has a 52-week low of $4.32 and a 52-week high of $6.99. The firm has a 50 day moving average price of $5.39 and a two-hundred day moving average price of $5.60.

Ellington Credit (NYSE:EARN) last announced its earnings results on Tuesday, August 19th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $9.87 million for the quarter, compared to the consensus estimate of $12.15 million. Ellington Credit had a return on equity of 15.90% and a net margin of 19.24%. As a group, equities research analysts predict that Ellington Credit will post 1.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on EARN. UBS Group cut their target price on Ellington Credit from $5.75 to $5.25 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Wall Street Zen upgraded shares of Ellington Credit from a “sell” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Ellington Credit presently has an average rating of “Moderate Buy” and a consensus target price of $5.88.

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.