Ellington Financial Inc (NYSE:EFC) announced a monthly dividend on Monday, October 7th, Zacks reports. Stockholders of record on Thursday, October 31st will be paid a dividend of 0.14 per share by the financial services provider on Monday, November 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.34%. The ex-dividend date is Wednesday, October 30th.
Ellington Financial has decreased its dividend by an average of 12.5% annually over the last three years. Ellington Financial has a 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 research 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%.
Shares of NYSE EFC opened at $17.98 on Wednesday. The firm’s 50-day moving average price is $17.76 and its 200-day moving average price is $17.90. The company has a quick ratio of 43.66, a current ratio of 43.66 and a debt-to-equity ratio of 4.01. The company has a market cap of $603.83 million, a PE ratio of 12.75 and a beta of 0.39. Ellington Financial has a 52-week low of $14.69 and a 52-week high of $18.50.
A number of equities analysts recently issued reports on EFC shares. ValuEngine downgraded shares of Ellington Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Maxim Group reaffirmed a “buy” rating and set a $20.00 price target on shares of Ellington Financial in a report on Friday, August 9th. Zacks Investment Research downgraded shares of Ellington Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 17th. Finally, Nomura initiated coverage on shares of Ellington Financial in a report on Friday, September 27th. They set a “buy” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.50.
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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