Ellington Residential Mortgage REIT (NYSE:EARN) declared a quarterly dividend on Tuesday, June 11th, NASDAQ reports. Investors of record on Friday, June 28th will be given a dividend of 0.28 per share by the real estate investment trust on Thursday, July 25th. This represents a $1.12 annualized dividend and a dividend yield of 10.23%. The ex-dividend date is Thursday, June 27th.
Ellington Residential Mortgage REIT has decreased its dividend by an average of 11.0% annually over the last three years. Ellington Residential Mortgage REIT has a dividend payout ratio of 80.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Ellington Residential Mortgage REIT to earn $1.09 per share next year, which means the company may not be able to cover its $1.12 annual dividend with an expected future payout ratio of 102.8%.
Shares of EARN stock traded down $0.02 during trading on Tuesday, hitting $10.95. The company had a trading volume of 1,240 shares, compared to its average volume of 52,208. The business’s 50-day simple moving average is $11.02. The firm has a market cap of $138.33 million, a PE ratio of 8.17 and a beta of 0.77. Ellington Residential Mortgage REIT has a 52 week low of $10.14 and a 52 week high of $12.14.
Several brokerages have issued reports on EARN. TheStreet raised Ellington Residential Mortgage REIT from a “d” rating to a “c” rating in a research note on Friday, May 3rd. Zacks Investment Research lowered Ellington Residential Mortgage REIT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 16th.
Ellington Residential Mortgage REIT Company Profile
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.
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