Ellington Credit Company (EARN) to Issue Monthly Dividend of $0.08 on October 30th

Ellington Credit Company (NYSE:EARN) declared a monthly dividend on Tuesday, September 8th. Shareholders of record on Wednesday, September 30th will be given a dividend of 0.08 per share by the real estate investment trust on Friday, October 30th. This represents a c) dividend on an annualized basis and a yield of 22.2%. The ex-dividend date is Wednesday, September 30th.

Ellington Credit has decreased its dividend payment by an average of 0.0%annually 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 tumble.

Ellington Credit Stock Down 0.3%

EARN stock opened at $4.33 on Thursday. The company has a market cap of $165.09 million, a price-to-earnings ratio of -4.41 and a beta of 1.28. The business has a fifty day simple moving average of $4.39 and a 200-day simple moving average of $4.56. Ellington Credit has a 52 week low of $4.25 and a 52 week high of $5.76.

Ellington Credit (NYSE:EARN) last issued its earnings results on Wednesday, August 12th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.05). The company had revenue of $6.08 million during the quarter, compared to analysts’ expectations of $10.57 million.

Hedge Funds Weigh In On Ellington Credit

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its holdings in Ellington Credit by 485.8% in the 1st quarter. Millennium Management LLC now owns 932,326 shares of the real estate investment trust’s stock worth $5,044,000 after buying an additional 773,169 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Ellington Credit by 415.4% during the first quarter. Jane Street Group LLC now owns 379,906 shares of the real estate investment trust’s stock valued at $2,055,000 after purchasing an additional 306,192 shares in the last quarter. Waverly Advisors LLC grew its position in shares of Ellington Credit by 85.8% in the 1st quarter. Waverly Advisors LLC now owns 167,250 shares of the real estate investment trust’s stock worth $741,000 after buying an additional 77,250 shares during the last quarter. HighTower Advisors LLC acquired a new position in Ellington Credit during the 4th quarter valued at approximately $369,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Ellington Credit by 56.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 126,864 shares of the real estate investment trust’s stock valued at $686,000 after acquiring an additional 45,845 shares during the last quarter. Institutional investors own 20.40% of the company’s stock.

About Ellington Credit

Ellington Credit Income Fund (NYSE: EARN) is a closed-end management investment company that seeks to generate current income through a diversified portfolio of mortgage- and asset-backed securities. The fund primarily invests in residential mortgage-backed securities (RMBS) and asset-backed securities (ABS), with additional exposure to commercial mortgage-backed securities (CMBS) and related structured credit instruments. To enhance income and manage risk, the fund employs leverage and derivative strategies such as interest rate swaps and credit default swaps, allowing it to adjust duration and credit exposure dynamically.

The fund is externally managed and advised by Ellington Management Group, LLC, an established investment firm specializing in mortgage credit and structured products.