Ellington Residential Mortgage REIT, a real estate investment trust, specializes in acquiring, investing in, and managing 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 comprising non-agency CMOs, such as investment grade and non-investment grade. The company has elected to be taxed as a real estate investment trust. As a result, it would not be subject to corporate income tax on that portion of its net income that is distributed to shareholders. Ellington Residential Mortgage REIT was founded in 2012 and is based in Old Greenwich, Connecticut.
IPO Year: 2013
Exchange: NYSE
Website: earnreit.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
12/6/2023 | $6.00 | Neutral | UBS |
12/6/2023 | $13.50 | Neutral | UBS |
4/1/2022 | Mkt Outperform → Mkt Perform | JMP Securities | |
3/10/2022 | $11.50 → $10.00 | Neutral | Credit Suisse |
3/9/2022 | $12.50 → $11.50 | Overweight | Piper Sandler |
11/8/2021 | Buy → Neutral | BTIG | |
10/12/2021 | $12.50 | Overweight | Piper Sandler |
DEFA14A - Ellington Credit Co (0001560672) (Filer)
DEFA14A - Ellington Credit Co (0001560672) (Filer)
DEF 14A - Ellington Credit Co (0001560672) (Filer)
10-Q - Ellington Credit Co (0001560672) (Filer)
8-K/A - Ellington Credit Co (0001560672) (Filer)
8-K - Ellington Credit Co (0001560672) (Filer)
8-K - Ellington Credit Co (0001560672) (Filer)
PRE 14A - Ellington Credit Co (0001560672) (Filer)
8-K - Ellington Credit Co (0001560672) (Filer)
10-Q - Ellington Credit Co (0001560672) (Filer)
UBS initiated coverage of Ellington Residential Mtg with a rating of Neutral and set a new price target of $6.00
UBS initiated coverage of Ellington Residential Mtg with a rating of Neutral and set a new price target of $13.50
JMP Securities downgraded Ellington Residential Mtg from Mkt Outperform to Mkt Perform
Credit Suisse reiterated coverage of Ellington Residential with a rating of Neutral and set a new price target of $10.00 from $11.50 previously
Piper Sandler reiterated coverage of Ellington Residential with a rating of Overweight and set a new price target of $11.50 from $12.50 previously
BTIG downgraded Ellington Residential from Buy to Neutral
Piper Sandler initiated coverage of Ellington Residential with a rating of Overweight and set a new price target of $12.50
Ellington Credit Company, formerly known as Ellington Residential Mortgage REIT (NYSE:EARN) ("we", "us," or "our"), today reported financial results for the quarter ended June 30, 2024. Highlights Net income (loss) of $(0.8) million, or $(0.04) per share. Adjusted Distributable Earnings1 of $7.3 million, or $0.36 per share. Book value of $6.91 per share as of June 30, 2024, which includes the effects of dividends of $0.24 per share for the quarter. Net interest margin2 of 13.41% on credit, 2.85% on Agency, and 4.24% overall. CLO portfolio increased to $85.1 million as of June 30, 2024, as compared to $45.1 million as of March 31, 2024. Capital allocation3 to corporate CL
Ellington Credit Company (NYSE:EARN) (the "Company") today announced that its Board of Trustees has declared a monthly common dividend of $0.08 per share, payable on September 25, 2024 to shareholders of record as of August 30, 2024. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and can be identified by words such as "anticipate," "estimate," "will," "should," "may," "expect," "project," "believe," "intend," "seek," "plan" and similar expressions or their negati
Ellington Credit Company (NYSE:EARN) (the "Company") today announced that it will release financial results for the quarter ended June 30, 2024 after market close on Monday, August 12, 2024. The Company will host a conference call to discuss its financial results at 11:00 a.m. Eastern Time on Tuesday, August 13, 2024. To participate in the event by telephone, please dial (800) 579-2543 at least 10 minutes prior to the start time and reference the conference code EARNQ224. International callers should dial (785) 424-1789 and reference the same code. The conference call will also be webcast live and can be accessed via the "For Investors" section of the Company's website at www.ellingtoncredi
Ellington Credit Company (NYSE:EARN) (the "Company") today announced that its Board of Trustees has declared a monthly common dividend of $0.08 per share, payable on August 26, 2024 to shareholders of record as of July 31, 2024. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and can be identified by words such as "anticipate," "estimate," "will," "should," "may," "expect," "project," "believe," "intend," "seek," "plan" and similar expressions or their negative fo
Ellington Credit Company (NYSE:EARN) (the "Company") today announced that its Board of Trustees has declared a monthly common dividend of $0.08 per share, payable on July 25, 2024 to shareholders of record as of June 28, 2024. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and can be identified by words such as "anticipate," "estimate," "will," "should," "may," "expect," "project," "believe," "intend," "seek," "plan" and similar expressions or their negative form
Ellington Credit Company, formerly known as Ellington Residential Mortgage REIT (NYSE:EARN) ("we", "us," or "our"), today reported financial results for the quarter ended March 31, 2024. Highlights Net income (loss) of $4.0 million, or $0.20 per share. Adjusted Distributable Earnings1 of $5.3 million, or $0.27 per share. Book value of $7.21 per share as of March 31, 2024, which includes the effects of dividends of $0.24 per share for the quarter. Net interest margin2 of 2.46% on Agency, 9.65% on credit, and 3.03% overall. Weighted average constant prepayment rate ("CPR") for the fixed-rate Agency specified pool portfolio of 5.23. Net mortgage assets-to-equity ratio of 5.
Ellington Credit Company (NYSE:EARN) (the "Company") today announced that its Board of Trustees has declared a monthly common dividend of $0.08 per share, payable on June 25, 2024 to shareholders of record as of May 31, 2024. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and can be identified by words such as "anticipate," "estimate," "will," "should," "may," "expect," "project," "believe," "intend," "seek," "plan" and similar expressions or their negative forms
Ellington Credit Company (NYSE:EARN) (the "Company") today announced that it will release financial results for the quarter ended March 31, 2024 after market close on Tuesday, May 14, 2024. The Company will host a conference call to discuss its financial results at 11:00 a.m. Eastern Time on Wednesday, May 15, 2024. To participate in the event by telephone, please dial (800) 343-5419 at least 10 minutes prior to the start time and reference the conference code EARNQ124. International callers should dial (203) 518-9731 and reference the same code. The conference call will also be webcast live and can be accessed via the "For Investors" section of the Company's website at www.ellingtoncredit.
—Preserving shareholder value by adopting a Section 382 rights plan intended to protect potentially valuable tax assets— —Plan would only remain in effect while the Company operates as taxable C-Corp, and would expire immediately upon the successful completion of the closed end fund/RIC conversion— Ellington Credit Company ("Ellington Credit" or the "Company") (NYSE:EARN) announced today that it has adopted a shareholder rights plan designed to protect shareholder value by preserving the availability of the Company's net operating loss carryforwards ("NOLs") and other tax attributes under the Internal Revenue Code of 1986, as amended (the "IRC") (such plan, the "Tax Asset Preservation P
Ellington Residential (NYSE:EARN) (the "Company") today announced that its Board of Trustees has declared a monthly common dividend of $0.08 per share, payable on May 28, 2024 to shareholders of record as of April 30, 2024. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and can be identified by words such as "anticipate," "estimate," "will," "should," "may," "expect," "project," "believe," "intend," "seek," "plan" and similar expressions or their negative forms,
Ellington Credit Company, formerly known as Ellington Residential Mortgage REIT (NYSE:EARN) ("we", "us," or "our"), today reported financial results for the quarter ended June 30, 2024. Highlights Net income (loss) of $(0.8) million, or $(0.04) per share. Adjusted Distributable Earnings1 of $7.3 million, or $0.36 per share. Book value of $6.91 per share as of June 30, 2024, which includes the effects of dividends of $0.24 per share for the quarter. Net interest margin2 of 13.41% on credit, 2.85% on Agency, and 4.24% overall. CLO portfolio increased to $85.1 million as of June 30, 2024, as compared to $45.1 million as of March 31, 2024. Capital allocation3 to corporate CL
Ellington Credit Company (NYSE:EARN) (the "Company") today announced that its Board of Trustees has declared a monthly common dividend of $0.08 per share, payable on September 25, 2024 to shareholders of record as of August 30, 2024. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and can be identified by words such as "anticipate," "estimate," "will," "should," "may," "expect," "project," "believe," "intend," "seek," "plan" and similar expressions or their negati
Ellington Credit Company (NYSE:EARN) (the "Company") today announced that it will release financial results for the quarter ended June 30, 2024 after market close on Monday, August 12, 2024. The Company will host a conference call to discuss its financial results at 11:00 a.m. Eastern Time on Tuesday, August 13, 2024. To participate in the event by telephone, please dial (800) 579-2543 at least 10 minutes prior to the start time and reference the conference code EARNQ224. International callers should dial (785) 424-1789 and reference the same code. The conference call will also be webcast live and can be accessed via the "For Investors" section of the Company's website at www.ellingtoncredi
Ellington Credit Company (NYSE:EARN) (the "Company") today announced that its Board of Trustees has declared a monthly common dividend of $0.08 per share, payable on August 26, 2024 to shareholders of record as of July 31, 2024. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and can be identified by words such as "anticipate," "estimate," "will," "should," "may," "expect," "project," "believe," "intend," "seek," "plan" and similar expressions or their negative fo
Ellington Credit Company (NYSE:EARN) (the "Company") today announced that its Board of Trustees has declared a monthly common dividend of $0.08 per share, payable on July 25, 2024 to shareholders of record as of June 28, 2024. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and can be identified by words such as "anticipate," "estimate," "will," "should," "may," "expect," "project," "believe," "intend," "seek," "plan" and similar expressions or their negative form
Ellington Credit Company, formerly known as Ellington Residential Mortgage REIT (NYSE:EARN) ("we", "us," or "our"), today reported financial results for the quarter ended March 31, 2024. Highlights Net income (loss) of $4.0 million, or $0.20 per share. Adjusted Distributable Earnings1 of $5.3 million, or $0.27 per share. Book value of $7.21 per share as of March 31, 2024, which includes the effects of dividends of $0.24 per share for the quarter. Net interest margin2 of 2.46% on Agency, 9.65% on credit, and 3.03% overall. Weighted average constant prepayment rate ("CPR") for the fixed-rate Agency specified pool portfolio of 5.23. Net mortgage assets-to-equity ratio of 5.
Ellington Credit Company (NYSE:EARN) (the "Company") today announced that its Board of Trustees has declared a monthly common dividend of $0.08 per share, payable on June 25, 2024 to shareholders of record as of May 31, 2024. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and can be identified by words such as "anticipate," "estimate," "will," "should," "may," "expect," "project," "believe," "intend," "seek," "plan" and similar expressions or their negative forms
Ellington Credit Company (NYSE:EARN) (the "Company") today announced that it will release financial results for the quarter ended March 31, 2024 after market close on Tuesday, May 14, 2024. The Company will host a conference call to discuss its financial results at 11:00 a.m. Eastern Time on Wednesday, May 15, 2024. To participate in the event by telephone, please dial (800) 343-5419 at least 10 minutes prior to the start time and reference the conference code EARNQ124. International callers should dial (203) 518-9731 and reference the same code. The conference call will also be webcast live and can be accessed via the "For Investors" section of the Company's website at www.ellingtoncredit.
—Preserving shareholder value by adopting a Section 382 rights plan intended to protect potentially valuable tax assets— —Plan would only remain in effect while the Company operates as taxable C-Corp, and would expire immediately upon the successful completion of the closed end fund/RIC conversion— Ellington Credit Company ("Ellington Credit" or the "Company") (NYSE:EARN) announced today that it has adopted a shareholder rights plan designed to protect shareholder value by preserving the availability of the Company's net operating loss carryforwards ("NOLs") and other tax attributes under the Internal Revenue Code of 1986, as amended (the "IRC") (such plan, the "Tax Asset Preservation P
Ellington Residential Mortgage REIT (NYSE:EARN) (the "Company" or "EARN") today announced that it has rebranded as Ellington Credit Company as part of its strategic transformation to focus on corporate collateralized loan obligations ("CLOs"). Specifically, the Company has taken the following actions, effective today: changed its name to Ellington Credit Company and amended its declaration of trust and bylaws accordingly; and updated its web address to www.ellingtoncredit.com. Laurence Penn, the Company's Chief Executive Officer, commented, "We continue to make great progress in pivoting EARN's investment strategy to focus on corporate CLOs, thus leveraging Ellington's longstandi
SC 13G - Ellington Residential Mortgage REIT (0001560672) (Subject)
SC 13G/A - Ellington Residential Mortgage REIT (0001560672) (Subject)
SC 13G/A - Ellington Residential Mortgage REIT (0001560672) (Subject)
SC 13D/A - Ellington Residential Mortgage REIT (0001560672) (Subject)
SC 13G/A - Ellington Residential Mortgage REIT (0001560672) (Subject)
SC 13G/A - Ellington Residential Mortgage REIT (0001560672) (Subject)
SC 13G - Ellington Residential Mortgage REIT (0001560672) (Subject)
Ellington Residential (NYSE:EARN) reported quarterly earnings of $0.27 per share which beat the analyst consensus estimate of $0.25 by 8 percent. This is a 28.57 percent increase over earnings of $0.21 per share from the same period last year. The company reported quarterly sales of $279.00 thousand which missed the analyst consensus estimate of $3.64 million by 92.34 percent. This is a 175.00 percent increase over sales of $(372.00 thousand) the same period last year.
JMP Securities analyst Mikhail Goberman reiterates Ellington Residential (NYSE:EARN) with a Market Perform.
JMP Securities analyst Mikhail Goberman reiterates Ellington Residential (NYSE:EARN) with a Market Perform.
Ellington Residential (NYSE:EARN) reported quarterly earnings of $0.27 per share which beat the analyst consensus estimate of $0.23 by 17.39 percent. This is a 8 percent increase over earnings of $0.25 per share from the same period last year.
Companies Reporting Before The Bell • CTS (NYSE:CTS) is estimated to report quarterly earnings at $0.14 per share on revenue of $708.85 million. • Foot Locker (NYSE:FL) is likely to report quarterly earnings at $0.32 per share on revenue of $2.28 billion. • JD.com (NASDAQ:JD) is likely to report quarterly earnings at $0.63 per share on revenue of $42.16 billion. • Super Group (SGHC) (NYSE:SGHC) is expected to report quarterly earnings at $0.01 per share on revenue of $326.63 million. • Sotherly Hotels (NASDAQ:SOHO) is projected to report earnings for its fourth quarter. • Thor Industries (NYSE:THO) is estimated to report quarterly earnings at $0.67 per share on revenue of $2.27 billion
Ellington Residential (NYSE:EARN) is set to give its latest quarterly earnings report on Wednesday, 2024-03-06. Here's what investors need to know before the announcement. Analysts estimate that Ellington Residential will report an earnings per share (EPS) of $0.23. Ellington Residential bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Historical Earnings Performance Last quarter the company missed EPS by $0.03, which was followe
UBS analyst Douglas Harter initiates coverage on Ellington Residential (NYSE:EARN) with a Neutral rating and announces Price Target of $6.
Ellington Residential (NYSE:EARN) reported quarterly earnings of $0.21 per share which missed the analyst consensus estimate of $0.24 by 12.5 percent. This is a 8.7 percent decrease over earnings of $0.23 per share from the same period last year. The company reported quarterly sales of $(1.10 million) which missed the analyst consensus estimate of $640.00 thousand by 271.25 percent. This is a 121.12 percent decrease over sales of $5.19 million the same period last year.
OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today announced the appointment of Mary McBride to its Board of Trustees (the "Board"), effective immediately. "We are excited to have Mary McBride join our Board as an independent Trustee. Mary’s extensive experience in commercial banking and as a director of publicly traded companies should add a valuable perspective to our Board," said Laurence Penn, Chief Executive Officer of EARN. Ms. McBride added, "I am honored to be named as a Trustee of EARN, and look forward to partnering with the Board and management team to continue to deliver strong shareholder returns." Ms. McBrid
OLD GREENWICH, Conn--(BUSINESS WIRE)--Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today announced the appointment of C. C. Melvin “Mel” Ike to its Board of Trustees (the “Board”), effective immediately. Mr. Ike replaces Menes O. Chee, a member of the Board since May 2013, who is resigning in conjunction with Mr. Ike’s appointment. "We are excited to have Melvin Ike join our Board as a Trustee. Mel’s experience as a senior member of the Tactical Opportunities Group at Blackstone should make for a seamless transition. We would like to thank Menes for his service as Blackstone’s representative on the Board for the past seven years, and wish him well in his new rol
OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today announced that Robert B. Allardice, III, an Independent Director and Chairman of the Company’s Audit Committee, has been appointed Chairman of the Board of Trustees (the “Board”). Mr. Allardice replaces Thomas F. Robards, who is stepping down from his role as Chairman and remains on the Board as an Independent Trustee. “We are excited about Barry Allardice’s elevation to Chairman of the Board. Barry has deep knowledge of the Company and has been an invaluable asset as Chairman of the Audit Committee since 2013,” said Laurence Penn, Chief Executive Officer of EARN. Mr. Alla
4 - Ellington Residential Mortgage REIT (0001560672) (Issuer)
4 - Ellington Residential Mortgage REIT (0001560672) (Issuer)
4 - Ellington Residential Mortgage REIT (0001560672) (Issuer)
4 - Ellington Residential Mortgage REIT (0001560672) (Issuer)
4 - Ellington Residential Mortgage REIT (0001560672) (Issuer)
4 - Ellington Residential Mortgage REIT (0001560672) (Issuer)
4 - Ellington Residential Mortgage REIT (0001560672) (Issuer)
4 - Ellington Residential Mortgage REIT (0001560672) (Issuer)
4 - Ellington Residential Mortgage REIT (0001560672) (Issuer)
4 - Ellington Residential Mortgage REIT (0001560672) (Issuer)