Ellington Financial Announces Estimated Book Value Per Common Share as of December 31, 2024

Rhea-AI Summary

Ellington Financial (NYSE: EFC) has reported its estimated book value per common share at $13.52 as of December 31, 2024. This estimate incorporates the previously announced monthly dividend of $0.13 per share of common stock, which was paid on January 27, 2025, to shareholders of record as of December 31, 2024.

Positive

• Monthly dividend payment of $0.13 per share maintained
• Book value per share stands at $13.52

Negative

• None.

Insights

Financial Analyst

The reported estimated book value of $13.52 per share reveals significant insights about Ellington Financial's current market positioning. With the stock trading at $12.59, this indicates a 7.4% discount to book value, presenting a potentially attractive entry point for value-oriented investors.

The consistent monthly dividend of $0.13 per share translates to an annualized yield of approximately 12.4%, positioning EFC among the higher-yielding mortgage REITs. The maintenance of book value while supporting this dividend payout demonstrates operational stability and effective risk management in the current interest rate environment.

For mortgage REITs, trading below book value often suggests market skepticism about future performance or concerns about interest rate risks. However, this discount also provides a potential margin of safety, as the market price reflects less than the liquidation value of the company's assets. The combination of the substantial dividend yield and the discount to book value creates an interesting risk-reward proposition for income-focused investors.

OLD GREENWICH, Conn.--(BUSINESS WIRE)-- Ellington Financial Inc. (NYSE: EFC) ("we") today announced an estimated book value per share of common stock of $13.52 as of December 31, 2024. This estimate includes the effect of the previously announced monthly dividend of $0.13 per share of common stock, paid on January 27, 2025 to holders of record on December 31, 2024, with the same ex-dividend date.

Cautionary Statement Regarding Forward-Looking Statements

Estimated book value per common share is subject to change upon completion of our month-end and quarter-end valuation procedures relating to our investment positions, and any such change could be material. There can be no assurance that our estimated book value per common share as of December 31, 2024 is indicative of what our results are likely to be for the three-month period or year ending December 31, 2024 or in future periods, and we undertake no obligation to update or revise our estimated book value per common share prior to issuance of financial statements for such periods.

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 involve numerous risks and uncertainties. Our actual results may differ from our beliefs, expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and can be identified by words such as "believe," "expect," "anticipate," "estimate," "project," "plan," "continue," "intend," "should," "would," "could," "goal," "objective," "will," "may," "seek" or similar expressions or their negative forms, or by references to strategy, plans, or intentions. Forward-looking statements are based on our beliefs, assumptions and expectations of our future operations, business strategies, performance, financial condition, liquidity and prospects, taking into account information currently available to us. These beliefs, assumptions, and expectations are subject to risks and uncertainties and can change as a result of many possible events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations and strategies may vary materially from those expressed or implied in our forward-looking statements. The following factors are examples of those that could cause actual results to vary from our forward-looking statements: changes in interest rates and the market value of our investments, market volatility, changes in mortgage default rates and prepayment rates, our ability to borrow to finance our assets, changes in government regulations affecting our business, our ability to maintain our exclusion from registration under the Investment Company Act of 1940, our ability to maintain our qualification as a real estate investment trust, or "REIT," and other changes in market conditions and economic trends, such as changes to fiscal or monetary policy, heightened inflation, slower growth or recession, and currency fluctuations. Furthermore, forward-looking statements are subject to risks and uncertainties, including, among other things, those described under Item 1A of our Annual Report on Form 10-K, which can be accessed through our website at www.ellingtonfinancial.com or at the SEC's website (www.sec.gov). Other risks, uncertainties, and factors that could cause actual results to differ materially from those projected or implied may be described from time to time in reports we file with the SEC, including reports on Forms 10-Q, 10-K and 8-K. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

This release and the information contained herein do not constitute an offer of any securities or solicitation of an offer to purchase securities.

About Ellington Financial

Ellington Financial invests in a diverse array of financial assets, including residential and commercial mortgage loans and mortgage-backed securities, reverse mortgage loans, mortgage servicing rights and related investments, consumer loans, asset-backed securities, collateralized loan obligations, non-mortgage and mortgage-related derivatives, debt and equity investments in loan origination companies, and other strategic investments. Ellington Financial is externally managed and advised by Ellington Financial Management LLC, an affiliate of Ellington Management Group, L.L.C.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250130660262/en/

Investors:

Ellington Financial

Investor Relations

(203) 409-3575

info@ellingtonfinancial.com

or

Media:

Amanda Shpiner/Grace Cartwright

Gasthalter & Co.

for Ellington Financial

(212) 257-4170

ellington@gasthalter.com

Source: Ellington Financial Inc

FAQ

What is Ellington Financial's (EFC) estimated book value per share as of December 31, 2024?

Ellington Financial's estimated book value per share is $13.52 as of December 31, 2024.

When did EFC pay its December 2024 dividend?

EFC paid its December 2024 dividend of $0.13 per share on January 27, 2025.

How much is EFC's monthly dividend per share?

EFC's monthly dividend is $0.13 per share of common stock.

What was the record date for EFC's December 2024 dividend?

The record date for EFC's December 2024 dividend was December 31, 2024.