Ellington Credit (EARN) to Distribute Monthly Dividend of $0.08 on March 25th

Ellington Credit (NYSE:EARN) declared a monthly dividend on Monday, February 10th, Wall Street Journal reports. Stockholders of record on Friday, February 28th will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, March 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.71%. The ex-dividend date is Friday, February 28th.

Ellington Credit has a dividend 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 decline. Equities 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 Performance

Shares of NYSE:EARN opened at $6.53 on Wednesday. The business’s fifty day moving average price is $6.57 and its two-hundred day moving average price is $6.72. The stock has a market cap of $190.38 million, a PE ratio of 5.83 and a beta of 1.85. Ellington Credit has a one year low of $5.88 and a one year high of $7.26.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Ellington Credit from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th.

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.