Ellington Credit Company (EARN) to Distribute Monthly Dividend of $0.08 on December 31st

Ellington Credit Company (NYSE:EARN) announced a monthly dividend on Thursday, November 5th. Investors of record on Monday, November 30th will be given a dividend of $0.08 per share by the real estate investment trust on Thursday, December 31st. This represents a $0.96 annualized dividend and a yield of 29.3%. The ex-dividend date of this dividend is Monday, November 30th.

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 Performance

Shares of EARN opened at $3.27 on Friday. The company has a market cap of $124.97 million, a price-to-earnings ratio of -3.34 and a beta of 1.32. The stock has a fifty day moving average price of $3.87 and a two-hundred day moving average price of $4.48. Ellington Credit has a 52-week low of $3.13 and a 52-week high of $5.72.

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

About Ellington Credit

Ellington Credit Corporation (NYSE:EARN) is a real estate investment trust focused primarily on residential mortgage credit. The company invests in residential mortgage-backed securities, residential mortgage loans and other residential real estate-related assets, with an emphasis on credit-sensitive investments that may offer exposure to different segments of the housing finance market.

Ellington Credit is externally managed by Ellington Residential Mortgage LP, an affiliate of Ellington Management Group.