Welcome to our dedicated page for Ellington Credit Company news (Ticker: EARN), a resource for investors and traders seeking the latest updates and insights on Ellington Credit Company stock.
Ellington Credit Company (EARN) is a specialized financial firm primarily engaged in the acquisition, investment, and management of corporate collateralized loan obligations (CLOs). Founded to leverage the financial acumen of its parent company, Ellington Management Group, Ellington Credit Company focuses on secondary CLO mezzanine debt and equity tranches.
Based in Old Greenwich, Connecticut, Ellington Credit Company utilizes advanced technology and proprietary analytics for underwriting and investment selection. The company places a strong emphasis on risk management, disciplined liquidity management, and the selective use of credit hedges to mitigate potential losses and preserve its book value, especially during financial stress periods.
Ellington Credit Company benefits from its affiliation with Ellington Residential Mortgage REIT, another entity under the Ellington umbrella that specializes in residential mortgage-backed securities (RMBS). This relationship provides a broad spectrum of financial expertise, allowing the company to optimize its investment strategies and risk assessment protocols.
The company's robust risk management framework, coupled with its sophisticated technology infrastructure, ensures comprehensive portfolio monitoring and surveillance. This enables Ellington Credit Company to make informed decisions that enhance the value and performance of its investments.
As a Real Estate Investment Trust (REIT), Ellington Credit Company enjoys tax advantages, including exemption from corporate income tax on distributed net income, which benefits its shareholders. Established in 2012, the company has built a commendable reputation for its adept handling of complex financial instruments and its commitment to maximizing shareholder value.
Recent achievements include successful acquisitions and strategic partnerships that have bolstered its portfolio. Current projects focus on expanding its investments in high-quality CLO tranches and exploring new opportunities in the financial markets.
For the latest updates and relevant information about Ellington Credit Company, including recent news and developments, visit our news section.
Ellington Residential Mortgage REIT (NYSE: EARN) announced a second-quarter 2021 dividend of $0.30 per share, payable on July 26, 2021, to shareholders on record as of June 30, 2021. This represents a greater than 7% increase compared to the previous dividend. The company specializes in managing residential mortgage-backed securities, focusing on assets guaranteed by U.S. government agencies.
Ellington Residential Mortgage REIT (NYSE: EARN) reported its Q1 2021 financial results, showing net income of $0.1 million ($0.01 per share) and core earnings of $3.8 million ($0.31 per share). The book value stood at $13.22 per share, with a 9% dividend yield based on a closing stock price of $12.44. The debt-to-equity ratio was 6.8:1. Despite rising interest rates, the company maintained stable book value and core earnings. They successfully utilized their balance sheet to acquire attractively priced pools, and a dynamic hedging strategy is planned for future performance.
Ellington Residential Mortgage REIT (NYSE: EARN) announced that it will release its financial results for Q1 2021 on May 3, 2021, after market close. A conference call to discuss the results will occur on May 4, 2021, at 11:00 AM ET. Investors can participate by dialing (877) 437-3698 or visiting the Company's website for a live webcast. A replay will be available from May 4 to May 18, 2021. Additionally, an investor presentation will be posted on the website after the results are released, providing further insights into the company's financial performance.
Ellington Residential Mortgage REIT (NYSE: EARN) has appointed Mary McBride to its Board of Trustees, effective immediately. CEO Laurence Penn expressed enthusiasm about her extensive experience in commercial banking and as a director of publicly traded firms, expecting her contributions to enhance shareholder value. McBride has a rich background, including her role as President of CoBank and directorships at CatchMark Timber Trust and Intrepid Potash. Her appointment is seen as a strategic move to strengthen the Board's expertise and perspective on financial matters.
Ellington Residential Mortgage REIT (NYSE: EARN) has declared a $0.28 per share dividend for Q1 2021, with a payment date set for April 26, 2021. Shareholders on record as of March 31, 2021 will receive this dividend. The press release underscores the company's focus on residential mortgage-backed securities and includes cautionary statements regarding forward-looking projections and associated risks that could impact financial performance.
Ellington Residential Mortgage REIT (NYSE: EARN) reported its financial results for Q4 2020, showing a net income of $7.4 million ($0.60 per share) and full-year net income of $20.1 million ($1.63 per share). Core Earnings amounted to $4.2 million ($0.34 per share). The company maintained a book value of $13.48 per share and achieved an economic return of 4.5% for the quarter and 13.1% for the year. However, net interest margin decreased to 2.12%, and total mortgage-backed securities held fell to $1.08 billion by year-end.
Ellington Residential Mortgage REIT (NYSE: EARN) has appointed C. C. Melvin "Mel" Ike to its Board of Trustees, effective immediately, following the resignation of Menes O. Chee. Mr. Ike brings significant experience from the Tactical Opportunities Group at Blackstone, enhancing the Board's capabilities. Laurence Penn, CEO of EARN, expressed excitement about Mr. Ike's joining, highlighting the smooth transition and thanking Mr. Chee for his service. Ike expressed enthusiasm about collaborating with the Board to deliver excellent returns for shareholders.
Ellington Residential Mortgage REIT (NYSE: EARN) will release its financial results for Q4 2020 after market close on February 16, 2021. A conference call is scheduled for February 17, 2021, at 11:00 a.m. ET to discuss the results. Interested parties can participate via phone or a live webcast available on the company's website. An investor presentation will also be posted on its website after the results are released.
The company focuses on acquiring and managing residential mortgage-related assets, particularly mortgage-backed securities.
Ellington Residential Mortgage REIT (NYSE: EARN) announced the federal income tax treatment of 2020 distributions for shareholders, aiding in tax reporting. Total paid distributions for 2020 were $1.1200 per share, with components classified as Ordinary Dividends and Capital Gain Distributions. Shareholders are advised to review their Forms 1099 and consult tax advisors regarding their tax consequences. Notably, no qualified dividend income was generated for 2020, and all ordinary dividends are treated as qualified REIT dividends. The company cautions that actual results may vary due to market changes.
Ellington Residential Mortgage REIT (NYSE: EARN) has appointed Robert B. Allardice, III as Chairman of the Board of Trustees, succeeding Thomas F. Robards who remains an Independent Trustee. Allardice has served as Chairman of the Audit Committee since 2013 and brings extensive knowledge to his new role. CEO Laurence Penn expressed optimism about Allardice’s leadership, emphasizing a focus on delivering strong returns for shareholders. The company is a mortgage REIT specializing in residential mortgage-backed securities.
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