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Ellington Financial (NYSE:EFC) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued on Monday, StockRatingsNetwork.com reports. They currently have a $23.30 price target on the stock. Zacks‘ price target points to a potential downside of 5.17% from the company’s current price.

Shares of Ellington Financial (NYSE:EFC) traded up 0.74% during mid-day trading on Monday, hitting $24.57. 130,920 shares of the company’s stock traded hands. Ellington Financial has a 52 week low of $21.12 and a 52 week high of $26.99. The stock has a 50-day moving average of $23.59 and a 200-day moving average of $22.94.

The company also recently announced a quarterly dividend, which is scheduled for Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 12.54%. The ex-dividend date is Wednesday, February 26th.

Ellington Financial LLC (NYSE:EFC) is a specialty finance company, which specializes in acquiring and managing mortgage-related assets.

To view Zacks’ full report, visit www.zacks.com

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