Ellington Residential Q1 Adj $0.27 Beats $0.25 Estimate, Sales $279.00K Miss $3.64M Estimate

5/14/24 4:30:20 PM ET

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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.

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Recent Analyst Ratings for
$EARN

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

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Financials

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Ellington Credit Company Reports Third Quarter 2024 Results
Ellington Credit Company (NYSE:EARN) ("we", "us," or "our") today reported financial results for the quarter ended September 30, 2024. Highlights Net income (loss) of $5.4 million, or $0.21 per share. Adjusted Distributable Earnings1 of $7.2 million, or $0.28 per share. Book value of $6.85 per share as of September 30, 2024, which includes the effects of dividends of $0.24 per share for the quarter. Net interest margin2 of 9.65% on credit, 3.52% on Agency, and 5.22% overall. CLO portfolio increased to $144.5 million as of September 30, 2024, as compared to $85.1 million as of June 30, 2024. Capital allocation3 to corporate CLOs was 58% as of September 30, 2024 as compare
11/12/24 7:00:00 PM ET
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Ellington Credit Declares Monthly Common Dividend
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 December 26, 2024 to shareholders of record as of November 29, 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 negativ
11/7/24 4:42:00 PM ET
$EARN
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Ellington Credit Company Announces Release Date of Third Quarter 2024 Earnings, Conference Call, and Investor Presentation
Ellington Credit Company (NYSE:EARN) (the "Company") today announced that it will release financial results for the quarter ended September 30, 2024 after market close on Tuesday, November 12, 2024. The Company will host a conference call to discuss its financial results at 1:00 p.m. Eastern Time on Wednesday, November 13, 2024. To participate in the event by telephone, please dial (800) 225-9448 at least 10 minutes prior to the start time and reference the conference code EARNQ324. International callers should dial (203) 518-9708 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.ell
10/29/24 4:15:00 PM ET
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Ellington Credit Sets Date for its Annual Meeting of Shareholders
Additional Affirmative Votes Still Needed for Passage of Conversion Proposals Company's Board of Trustees, ISS, and Glass Lewis All Recommend Shareholders Vote "For" Strategic Transformation Ellington Credit Company (NYSE:EARN) (the "Company") today announced that its 2024 Annual Meeting of Shareholders (the "Annual Meeting") will be held on Wednesday, December 4, 2024, at 10:00 am, Eastern Time, via live webcast at www.virtualshareholdermeeting.com/EARN2024. As of the close of business yesterday, over 92% of votes received have been cast in favor of each of the proposals that would allow the Company to convert to a closed-end investment company registered under the Investment Company
11/21/24 4:18:00 PM ET
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Ellington Credit Company Reports Third Quarter 2024 Results
Ellington Credit Company (NYSE:EARN) ("we", "us," or "our") today reported financial results for the quarter ended September 30, 2024. Highlights Net income (loss) of $5.4 million, or $0.21 per share. Adjusted Distributable Earnings1 of $7.2 million, or $0.28 per share. Book value of $6.85 per share as of September 30, 2024, which includes the effects of dividends of $0.24 per share for the quarter. Net interest margin2 of 9.65% on credit, 3.52% on Agency, and 5.22% overall. CLO portfolio increased to $144.5 million as of September 30, 2024, as compared to $85.1 million as of June 30, 2024. Capital allocation3 to corporate CLOs was 58% as of September 30, 2024 as compare
11/12/24 7:00:00 PM ET
$EARN
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Ellington Credit Declares Monthly Common Dividend
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 December 26, 2024 to shareholders of record as of November 29, 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 negativ
11/7/24 4:42:00 PM ET
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Ellington Residential Mortgage REIT Announces Appointment of Mary McBride to Board of Trustees
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
3/30/21 4:10:00 PM ET
$EARN
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Ellington Residential Mortgage REIT Announces Appointment of C.C. Melvin Ike to Board of Trustees
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
2/16/21 4:10:00 PM ET
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Ellington Residential Mortgage REIT Announces Appointment of New Chairman
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
1/28/21 4:15:00 PM ET
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Ellington Residential Q1 Adj $0.27 Beats $0.25 Estimate, Sales $279.00K Miss $3.64M Estimate

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SEC Form SC 13G filed by Ellington Residential Mortgage REIT

SEC Form SC 13G/A filed by Ellington Residential Mortgage REIT (Amendment)

SEC Form SC 13G/A filed by Ellington Residential Mortgage REIT (Amendment)

$EARN SEC Filings

SEC Form DEFA14A filed by Ellington Credit Company

SEC Form DEFA14A filed by Ellington Credit Company

SEC Form 10-Q filed by Ellington Credit Company

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Director Simon Ronald I was granted 14,472 units of Common shares of beneficial interest, increasing direct ownership by 105% to 28,233 units (SEC Form 4)

Director Miller David was granted 14,472 units of Common shares of beneficial interest, increasing direct ownership by 28% to 65,703 units (SEC Form 4)

Director Allardice Robert B. Iii was granted 14,472 units of Common shares of beneficial interest, increasing direct ownership by 35% to 55,703 units (SEC Form 4)

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