Ellington Credit (NYSE:EARN) Plans $0.08 Monthly Dividend

Ellington Credit (NYSE:EARN) declared a monthly dividend on Monday, September 9th, NASDAQ reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.08 per share by the real estate investment trust on Friday, October 25th. This represents a $0.96 annualized dividend and a dividend yield of 13.88%. The ex-dividend date is Monday, September 30th.

Ellington Credit has raised its dividend by an average of 39.3% per year over the last three years. Ellington Credit has a payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Trading Up 0.8 %

Shares of NYSE:EARN traded up $0.05 during trading on Tuesday, hitting $6.92. 314,014 shares of the company were exchanged, compared to its average volume of 302,232. The firm has a fifty day moving average price of $6.94 and a two-hundred day moving average price of $6.83. Ellington Credit has a fifty-two week low of $5.09 and a fifty-two week high of $7.26. The stock has a market cap of $175.16 million, a price-to-earnings ratio of 23.85 and a beta of 1.87.

Ellington Credit (NYSE:EARN) last released its quarterly earnings data on Monday, August 12th. The real estate investment trust reported $0.36 EPS for the quarter, beating the consensus estimate of $0.24 by $0.12. The company had revenue of $3.90 million during the quarter, compared to analyst estimates of $6.35 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. As a group, research analysts predict that Ellington Credit will post 1.16 EPS for the current 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.