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

Ellington Credit (NYSE:EARN) declared a monthly dividend on Monday, October 7th, NASDAQ reports. Investors of record on Thursday, October 31st will be given a dividend of 0.08 per share by the real estate investment trust on Monday, November 25th. This represents a $0.96 annualized dividend and a dividend yield of 14.28%. The ex-dividend date of this dividend is Thursday, October 31st.

Ellington Credit has raised its dividend payment by an average of 39.3% per year over the last three years. Ellington Credit has a payout ratio of 82.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Ellington Credit to earn $1.10 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 87.3%.

Ellington Credit Stock Performance

Shares of EARN traded up $0.02 during mid-day trading on Tuesday, hitting $6.73. 354,504 shares of the company were exchanged, compared to its average volume of 314,153. Ellington Credit has a 1-year low of $5.09 and a 1-year high of $7.26. The stock has a market cap of $137.69 million, a price-to-earnings ratio of 23.19 and a beta of 1.87. The company has a 50 day moving average of $6.90 and a 200-day moving average of $6.93.

Ellington Credit (NYSE:EARN) last posted its quarterly earnings results on Monday, August 12th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.12. The firm had revenue of $3.90 million during the quarter, compared to analysts’ expectations of $6.35 million. During the same period last year, the company earned $0.17 EPS. Research analysts anticipate that Ellington Credit will post 1.16 earnings per share for the current fiscal year.

Ellington Credit Company Profile

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.