Ellington Credit Company (EARN) to Issue Sep 25 Dividend of $0.08 on October 31st

Ellington Credit Company (NYSE:EARN) announced a sep 25 dividend on Monday, September 8th, RTT News reports. Investors of record on Tuesday, September 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Friday, October 31st. This represents a dividend yield of 1,700.0%. The ex-dividend date of this dividend is Tuesday, September 30th.

Ellington Credit has a 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 tumble. Equities 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 Down 0.1%

NYSE:EARN opened at $5.69 on Friday. Ellington Credit has a 1 year low of $4.32 and a 1 year high of $7.11. The stock has a market cap of $213.53 million, a price-to-earnings ratio of 31.58 and a beta of 1.31. The stock has a 50-day moving average price of $5.74 and a two-hundred day moving average price of $5.62.

Ellington Credit (NYSE:EARN) last posted its earnings results on Tuesday, August 19th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Ellington Credit had a net margin of 19.24% and a return on equity of 15.90%. The business had revenue of $9.87 million during the quarter, compared to analyst estimates of $12.15 million. Sell-side analysts forecast that Ellington Credit will post 1.17 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.