Ellington Residential Mortgage REIT Declares Quarterly Dividend of $0.37 (EARN)

Ellington Residential Mortgage REIT (NYSE:EARN) announced a quarterly dividend on Wednesday, December 13th, Wall Street Journal reports. Shareholders of record on Friday, December 29th will be paid a dividend of 0.37 per share by the real estate investment trust on Thursday, January 25th. This represents a $1.48 annualized dividend and a yield of 11.54%. The ex-dividend date of this dividend is Thursday, December 28th.

Ellington Residential Mortgage REIT has raised its dividend by an average of 38.5% per year over the last three years. Ellington Residential Mortgage REIT has a payout ratio of 86.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Ellington Residential Mortgage REIT to earn $1.51 per share next year, which means the company may not be able to cover its $1.60 annual dividend with an expected future payout ratio of 106.0%.

Shares of Ellington Residential Mortgage REIT (NYSE EARN) remained flat at $$12.83 during mid-day trading on Wednesday. The stock had a trading volume of 106,625 shares, compared to its average volume of 107,068. Ellington Residential Mortgage REIT has a 52-week low of $12.50 and a 52-week high of $15.74. The stock has a market cap of $171.37, a P/E ratio of 6.76 and a beta of 0.59.

Ellington Residential Mortgage REIT (NYSE:EARN) last issued its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.02). Ellington Residential Mortgage REIT had a return on equity of 12.02% and a net margin of 40.44%. The firm had revenue of $7.15 million for the quarter. research analysts predict that Ellington Residential Mortgage REIT will post 1.86 earnings per share for the current year.

Several brokerages have issued reports on EARN. Zacks Investment Research raised Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. BidaskClub lowered Ellington Residential Mortgage REIT from a “sell” rating to a “strong sell” rating in a research note on Friday, November 3rd.

A hedge fund recently bought a new stake in Ellington Residential Mortgage REIT stock. California State Teachers Retirement System bought a new stake in Ellington Residential Mortgage REIT (NYSE:EARN) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 14,700 shares of the real estate investment trust’s stock, valued at approximately $216,000. California State Teachers Retirement System owned about 0.11% of Ellington Residential Mortgage REIT at the end of the most recent quarter. Institutional investors own 66.67% of the company’s stock.

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About Ellington Residential Mortgage REIT

Ellington Residential Mortgage REIT is a real estate investment trust. The Company conducts its business through its subsidiaries, EARN OP GP LLC and Ellington Residential Mortgage LP (the Operating Partnership). It specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets.

Dividend History for Ellington Residential Mortgage REIT (NYSE:EARN)

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