Ellington Credit (NYSE:EARN) to Issue Monthly Dividend of $0.08

Ellington Credit (NYSE:EARN) declared a monthly dividend on Friday, April 4th, Wall Street Journal reports. Shareholders of record on Wednesday, April 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, May 27th. This represents a $0.96 dividend on an annualized basis and a yield of 20.15%. The ex-dividend date of this dividend is Wednesday, April 30th.

Ellington Credit has a dividend payout ratio of 85.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Stock Down 6.8 %

Shares of Ellington Credit stock traded down $0.35 on Friday, reaching $4.77. The company’s stock had a trading volume of 1,773,059 shares, compared to its average volume of 489,554. Ellington Credit has a 52-week low of $4.75 and a 52-week high of $7.26. The company has a market capitalization of $139.03 million, a P/E ratio of 4.25 and a beta of 1.96. The stock has a 50-day moving average price of $6.25 and a 200-day moving average price of $6.55.

Ellington Credit (NYSE:EARN) last issued its quarterly earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The company had revenue of $6.14 million during the quarter, compared to analyst estimates of $9.65 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. Sell-side analysts forecast that Ellington Credit will post 1.17 earnings per share for the current fiscal 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.