Ellington Credit (NYSE:EARN) Declares $0.08 Monthly Dividend

Ellington Credit (NYSE:EARN) declared a monthly dividend on Friday, March 7th, NASDAQ Dividends reports. Investors of record on Monday, March 31st will be given a dividend of 0.08 per share by the real estate investment trust on Friday, April 25th. This represents a $0.96 dividend on an annualized basis and a yield of 14.94%. The ex-dividend date is Monday, March 31st.

Ellington Credit has a dividend payout ratio of 82.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Ellington Credit to earn $1.13 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 85.0%.

Ellington Credit Price Performance

Shares of Ellington Credit stock opened at $6.43 on Friday. The company’s 50 day moving average price is $6.56 and its two-hundred day moving average price is $6.70. The firm has a market capitalization of $187.46 million, a P/E ratio of 5.74 and a beta of 1.96. Ellington Credit has a fifty-two week low of $6.19 and a fifty-two week high of $7.26.

Analyst Ratings Changes

Separately, StockNews.com upgraded Ellington Credit from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th.

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.