Ellington Credit (NYSE:EARN) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

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

Ellington Credit Price Performance

EARN traded down $0.21 on Wednesday, hitting $6.28. The company had a trading volume of 562,858 shares, compared to its average volume of 323,958. The company’s fifty day moving average price is $6.81 and its 200 day moving average price is $6.92. Ellington Credit has a 1-year low of $5.54 and a 1-year high of $7.26. The stock has a market cap of $159.07 million, a price-to-earnings ratio of 5.63 and a beta of 1.87.

Ellington Credit Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, December 26th. Shareholders 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 dividend on an annualized basis and a yield of 15.29%. Ellington Credit’s dividend payout ratio (DPR) is currently 85.71%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Ellington Credit from a “hold” rating to a “sell” rating in a report 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.