Ellington Credit (NYSE:EARN) Announces Quarterly Earnings Results

Ellington Credit (NYSE:EARN) released its quarterly earnings data on Tuesday. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01, Zacks reports. Ellington Credit had a net margin of 226.01% and a return on equity of 17.20%. The company had revenue of $4.75 million during the quarter, compared to the consensus estimate of $7.55 million. During the same period in the previous year, the firm earned $0.21 earnings per share.

Ellington Credit Stock Performance

Shares of EARN stock traded down $0.19 on Wednesday, hitting $6.30. The stock had a trading volume of 478,571 shares, compared to its average volume of 323,575. The firm has a market capitalization of $159.58 million, a price-to-earnings ratio of 5.63 and a beta of 1.87. The stock’s 50 day moving average is $6.81 and its 200-day moving average is $6.92. Ellington Credit has a 52-week low of $5.54 and a 52-week high of $7.26.

Ellington Credit Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Friday, November 29th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 15.24%. Ellington Credit’s dividend payout ratio (DPR) is presently 85.71%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Ellington Credit from a “hold” rating to a “sell” rating in a research note on Tuesday.

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.