Ellington Financial Inc (NYSE:EFC) announced a monthly dividend on Monday, September 9th, Zacks reports. Investors of record on Monday, September 30th will be given a dividend of 0.14 per share by the financial services provider on Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.40%. The ex-dividend date of this dividend is Friday, September 27th.
Ellington Financial has decreased its dividend by an average of 12.5% per year over the last three years. Ellington Financial has a dividend payout ratio of 118.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Ellington Financial to earn $1.76 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 95.5%.
Ellington Financial stock traded up $0.07 during midday trading on Wednesday, reaching $17.87. 20,055 shares of the company were exchanged, compared to its average volume of 160,899. The company has a market capitalization of $601.11 million, a price-to-earnings ratio of 12.67 and a beta of 0.42. The firm’s 50-day simple moving average is $17.55 and its 200-day simple moving average is $17.82. Ellington Financial has a 1 year low of $14.69 and a 1 year high of $18.50. The company has a debt-to-equity ratio of 4.01, a quick ratio of 43.66 and a current ratio of 43.66.
EFC has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Ellington Financial from a “hold” rating to a “strong-buy” rating and set a $20.00 price target for the company in a report on Friday, July 19th. Maxim Group reissued a “buy” rating and issued a $20.00 price objective on shares of Ellington Financial in a research report on Friday, August 9th.
About Ellington Financial
Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.
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