Ellington Credit (NYSE:EARN) Releases Earnings Results, Beats Expectations By $0.12 EPS

Ellington Credit (NYSE:EARN) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.12, Zacks reports. The firm had revenue of $3.90 million for the quarter, compared to analysts’ expectations of $6.35 million. During the same period in the previous year, the company posted $0.17 EPS.

Ellington Credit Price Performance

EARN stock traded down $0.01 on Wednesday, hitting $6.98. 35,734 shares of the company were exchanged, compared to its average volume of 290,748. The stock has a market capitalization of $142.92 million, a price-to-earnings ratio of 24.10 and a beta of 1.89. Ellington Credit has a twelve month low of $5.09 and a twelve month high of $7.26. The business’s fifty day moving average is $6.97 and its two-hundred day moving average is $6.69.

Ellington Credit Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, August 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.96 annualized dividend and a dividend yield of 13.75%. Ellington Credit’s dividend payout ratio is presently 331.03%.

Wall Street Analyst Weigh In

Separately, JMP Securities reissued a “market perform” rating on shares of Ellington Credit in a research note on Thursday, April 18th.

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.