Ellington Residential Mortgage REIT (NYSE:EARN) Announces $0.08 Monthly Dividend

Posted by Joseph McCarthy on May 8th, 2024

Ellington Residential Mortgage REIT (NYSE:EARN – Get Free Report) declared a monthly dividend on Wednesday, May 8th, Wall Street Journal reports. Investors of record on Friday, May 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, June 25th. This represents a $0.96 annualized dividend and a dividend yield of 13.60%. The ex-dividend date is Friday, May 31st.

Ellington Residential Mortgage REIT has increased its dividend payment by an average of 39.3% annually over the last three years. Ellington Residential Mortgage REIT has a payout ratio of 87.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Ellington Residential Mortgage REIT to earn $1.02 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 94.1%.

Ellington Residential Mortgage REIT Stock Performance

Ellington Residential Mortgage REIT stock remained flat at $7.06 during trading on Wednesday. 155,284 shares of the company were exchanged, compared to its average volume of 246,393. The business’s 50-day simple moving average is $6.61 and its 200-day simple moving average is $6.19. Ellington Residential Mortgage REIT has a 12-month low of $5.09 and a 12-month high of $7.64. The company has a market cap of $139.93 million, a price-to-earnings ratio of 27.19 and a beta of 1.86.

Analysts Set New Price Targets

Several brokerages recently commented on EARN. StockNews.com upgraded Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a report on Thursday, March 7th. JMP Securities reissued a “market perform” rating on shares of Ellington Residential Mortgage REIT in a report on Thursday, April 18th.

Get Our Latest Analysis on Ellington Residential Mortgage REIT

About Ellington Residential Mortgage REIT

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Ellington Residential Mortgage REIT, 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.