Ellington Credit (NYSE:EARN) Announces Earnings Results, Beats Estimates By $0.01 EPS

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

Ellington Credit Stock Down 0.6 %

NYSE EARN opened at $6.33 on Friday. The company has a market cap of $160.34 million, a price-to-earnings ratio of 5.65 and a beta of 1.87. Ellington Credit has a twelve month low of $5.54 and a twelve month high of $7.26. The business’s fifty day moving average is $6.79 and its 200 day moving average is $6.91.

Ellington Credit Announces Dividend

The company also recently declared 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 15.17%. The ex-dividend date is Friday, November 29th. Ellington Credit’s payout ratio is 85.71%.

Analysts Set New Price Targets

Separately, StockNews.com lowered 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.