Ellington Credit (NYSE:EARN - Get Free Report) announced a monthly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.08 per share by the real estate investment trust on Thursday, December 26th. This represents a $0.96 annualized dividend and a dividend yield of 14.50%. The ex-dividend date is Friday, November 29th.
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 81.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. 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%.
Shares of EARN traded up $0.21 during midday trading on Friday, hitting $6.62. 451,482 shares of the company's stock traded hands, compared to its average volume of 398,394. Ellington Credit has a 1 year low of $5.42 and a 1 year high of $7.26. The firm's fifty day moving average is $6.83 and its 200-day moving average is $6.92. The stock has a market capitalization of $167.68 million, a price-to-earnings ratio of 41.38 and a beta of 1.87.
Ellington Credit (NYSE:EARN - Get Free Report) last issued 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 business had revenue of $3.90 million for the quarter, compared to analysts' expectations of $6.35 million. During the same quarter in the prior year, the company posted $0.17 EPS. On average, equities research analysts anticipate that Ellington Credit will post 1.16 EPS for the current year.
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.
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