Ellington Credit Company (EARN) To Go Ex-Dividend on May 29th

Ellington Credit Company (NYSE:EARN) declared a monthly dividend on Thursday, May 7th. Investors of record on Friday, May 29th will be given a dividend of 0.08 per share by the real estate investment trust on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 19.5%. The ex-dividend date of this dividend is Friday, May 29th.

Ellington Credit has decreased its dividend 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 decline.

Ellington Credit Stock Up 1.5%

NYSE EARN opened at $4.93 on Friday. Ellington Credit has a 52-week low of $4.27 and a 52-week high of $6.08. The business’s 50-day moving average price is $4.63 and its 200 day moving average price is $5.07. The firm has a market cap of $185.08 million, a P/E ratio of -12.01 and a beta of 1.27.

Ellington Credit (NYSE:EARN) last released its quarterly earnings results on Wednesday, March 4th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). Ellington Credit had a positive return on equity of 16.47% and a negative net margin of 34.31%.The company had revenue of ($17.48) million for the quarter, compared to analysts’ expectations of $12.71 million.

Institutional Investors Weigh In On Ellington Credit

A number of institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC purchased a new stake in shares of Ellington Credit during the 4th quarter worth approximately $369,000. Envestnet Asset Management Inc. boosted its stake in shares of Ellington Credit by 6.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 76,237 shares of the real estate investment trust’s stock worth $415,000 after acquiring an additional 4,675 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of Ellington Credit by 60.3% during the 2nd quarter. Osaic Holdings Inc. now owns 104,689 shares of the real estate investment trust’s stock worth $602,000 after acquiring an additional 39,392 shares in the last quarter. Vident Advisory LLC boosted its stake in shares of Ellington Credit by 109.1% during the 2nd quarter. Vident Advisory LLC now owns 36,350 shares of the real estate investment trust’s stock worth $209,000 after acquiring an additional 18,967 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Ellington Credit by 415.4% during the 1st quarter. Jane Street Group LLC now owns 379,906 shares of the real estate investment trust’s stock worth $2,055,000 after acquiring an additional 306,192 shares in the last quarter. Hedge funds and other 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.