Ellington Credit (EARN) to Release Earnings on Tuesday

Ellington Credit (NYSE:EARN) is expected to post its Q1 2025 quarterly earnings results after the market closes on Tuesday, May 20th. Analysts expect Ellington Credit to post earnings of $0.27 per share and revenue of $10.35 million for the quarter.

Ellington Credit (NYSE:EARN) last issued its earnings results on Wednesday, March 12th. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The business had revenue of $6.14 million during the quarter, compared to the consensus estimate of $9.65 million. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. On average, analysts expect Ellington Credit to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Ellington Credit Trading Up 1.0%

Shares of EARN opened at $5.70 on Friday. The stock has a 50-day moving average price of $5.41 and a 200-day moving average price of $6.17. The company has a market cap of $213.90 million, a PE ratio of 5.08 and a beta of 1.31. Ellington Credit has a 12-month low of $4.33 and a 12-month high of $7.26.

Ellington Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 16.86%. The ex-dividend date is Friday, May 30th. Ellington Credit’s dividend payout ratio is currently 320.00%.

Insider Transactions at Ellington Credit

In other news, Portfolio Manager Gregory Morris Borenstein bought 8,000 shares of the business’s stock in a transaction dated Wednesday, April 9th. The shares were acquired at an average price of $4.73 per share, for a total transaction of $37,840.00. Following the completion of the transaction, the portfolio manager now owns 18,000 shares of the company’s stock, valued at approximately $85,140. This trade represents a 80.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Ellington Credit

A hedge fund recently raised its stake in Ellington Credit stock. Millennium Management LLC grew its holdings in shares of Ellington Credit (NYSE:EARN) by 485.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 932,326 shares of the real estate investment trust’s stock after purchasing an additional 773,169 shares during the period. Millennium Management LLC owned approximately 2.48% of Ellington Credit worth $5,044,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 20.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on EARN. StockNews.com downgraded Ellington Credit from a “hold” rating to a “sell” rating in a report on Friday. UBS Group cut their price target on Ellington Credit from $6.50 to $5.25 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Finally, Piper Sandler lowered their price objective on Ellington Credit from $8.00 to $6.50 and set an “overweight” rating for the company in a research report on Tuesday, April 8th.

About Ellington Credit

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.