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Ellington Financial Inc. - EFC STOCK NEWS

Welcome to our dedicated page for Ellington Financial news (Ticker: EFC), a resource for investors and traders seeking the latest updates and insights on Ellington Financial stock.

Ellington Financial Inc. (EFC) is a specialty finance company headquartered in Columbus, Ohio. With a focus on generating attractive, risk-adjusted returns for its shareholders, Ellington Financial Inc. operates through two main segments: the Investment Portfolio Segment and the Longbridge Segment.

The Investment Portfolio Segment is dedicated to investing in a diverse array of financial assets. These include residential and commercial mortgage loans, residential mortgage-backed securities (RMBS), non-mortgage- and mortgage-related derivatives, debt and equity investments in loan origination companies, and other strategic investments. This segment aims to leverage the company's expertise in asset management and financial markets to deliver consistent returns.

The Longbridge Segment focuses on the origination and servicing of reverse mortgage loans. The company acquires these loans both through its origination activities and through secondary market purchases, providing a significant stream of income and growth opportunities. This segment underscores Ellington Financial Inc.’s commitment to addressing the financial needs of an aging population by offering solutions that help senior homeowners convert part of the equity in their homes into cash.

Ellington Financial Inc. continues to build on its strong foundation by seeking out new partnerships and investing in innovative products. The company’s strategic approach and diversified portfolio help to mitigate risks and capitalize on market opportunities.

Recent achievements include enhanced portfolio performance and strategic acquisitions that have bolstered the company's market position. Financially, Ellington Financial Inc. remains robust, with a well-capitalized balance sheet and a disciplined investment strategy that aims to maximize shareholder value.

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Ellington Financial reported a net loss of $(9.9) million, or $(0.17) per share, for Q1 2022. Core Earnings were positive at $23.2 million, translating to $0.40 per share. The company's book value per share was $17.74, with a 10.7% dividend yield based on a closing stock price of $16.86. The credit strategy generated $16.5 million in gross income, but the agency strategy incurred a gross loss of $(20.1) million. Total long credit portfolio grew by 11% to $2.301 billion, while debt-to-equity ratio stands at 3.2:1 as of March 31, 2022. Significant strategic financings were completed, providing ample liquidity for future investments.

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Ellington Financial has declared a monthly dividend of $0.15 per common share, payable on June 27, 2022, to shareholders on record as of May 31, 2022. This announcement reflects the company’s ongoing commitment to returning value to its shareholders through regular dividend payments, despite market uncertainties.

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Ellington Financial Inc. (NYSE: EFC) has successfully completed a $426 million securitization backed by non-qualified residential mortgage loans. The majority of these loans were acquired from LendSure Mortgage Corp. and American Heritage Lending, LLC, in which Ellington holds equity stakes. The securitization received AAA ratings from Fitch and KBRA. Ellington retained certain tranches for regulatory compliance and maintains the right to call the securitization after the optional redemption date.

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Ellington Financial Inc. (NYSE: EFC) announced an estimated book value per share of $17.74 as of March 31, 2022. This figure incorporates a monthly dividend of $0.15 per share, payable on April 25, 2022, to holders of record on March 31, 2022. The company cautions that its estimated book value may change following its month-end and quarter-end valuation procedures. There is no assurance that this estimate will reflect actual results for future periods, given various market and economic factors.

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Ellington Financial (NYSE:EFC) will release its financial results for Q1 2022 after market close on May 5, 2022. A conference call is scheduled for May 6, 2022, at 11:00 a.m. ET, with dial-in options available for participants. An investor presentation will be posted on the company's website after the earnings release. Ellington Financial invests in a range of financial assets, including mortgage loans and asset-backed securities, and is managed by Ellington Financial Management LLC.

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Ellington Financial (NYSE: EFC) has announced a monthly dividend of $0.15 per common share, set for payment on May 25, 2022. This dividend will benefit stockholders of record as of April 29, 2022. The company is diverse in its investments, covering residential and commercial mortgage loans, mortgage-backed securities, and various other financial assets. While the announcement is positive for investors, the company also warns of inherent risks and uncertainties that may impact future results.

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Ellington Financial Inc. (NYSE: EFC) has successfully closed a private offering of $210 million in 5.875% senior unsecured notes maturing in April 2027. These notes will be fully guaranteed by the Company. The offering is compliant with Rule 144A and Regulation D, targeting qualified institutional buyers and international investors, thus avoiding registration under the Securities Act. The press release includes cautionary forward-looking statements regarding the Company's future performance, emphasizing the potential risks and uncertainties that could affect results.

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Ellington Financial Inc. (NYSE: EFC) announced an estimated book value per share of $17.85 as of February 28, 2022. This figure includes the previously announced monthly dividend of $0.15, to be paid on March 25, 2022, to shareholders of record on February 28, 2022. The company cautioned that this estimate may change due to ongoing valuation processes and does not guarantee future results.

Ellington Financial invests in various financial assets and is managed by Ellington Financial Management LLC.

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Ellington Financial Inc. (NYSE: EFC) declared a monthly dividend of $0.15 per share, payable on April 25, 2022. Additionally, it announced quarterly dividends of $0.421875 for its 6.750% Series A Preferred Stock and $0.390625 for its 6.250% Series B Preferred Stock, both payable on May 2, 2022. All dividends are for stockholders of record as of March 31, 2022. The company emphasized ongoing risks associated with forward-looking statements, including interest rate fluctuations and changes in government regulations.

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Ellington Financial has announced the acquisition of an additional 49.6% stake in Longbridge Financial from Home Point Capital for approximately $75 million. Following the transaction, Ellington will hold almost all of Longbridge's equity. Longbridge, a reverse mortgage lender, increased its annual loan volume to $2.2 billion from 2019 to 2021 and ranks as the third largest reverse mortgage lender in the U.S., holding an 18% market share. The acquisition is expected to close in Q2 2022, enhancing Ellington's position in the reverse mortgage market.

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FAQ

What is the current stock price of Ellington Financial (EFC)?

The current stock price of Ellington Financial (EFC) is $12.14 as of December 23, 2024.

What is the market cap of Ellington Financial (EFC)?

The market cap of Ellington Financial (EFC) is approximately 1.1B.

What does Ellington Financial Inc. do?

Ellington Financial Inc. is a specialty finance company that invests in a variety of financial assets and services reverse mortgage loans.

What are the main segments of Ellington Financial Inc.?

The main segments are the Investment Portfolio Segment and the Longbridge Segment.

Where is Ellington Financial Inc. headquartered?

The company is headquartered in Columbus, Ohio, United States.

What is the primary investment objective of Ellington Financial Inc.?

The primary investment objective is to generate attractive, risk-adjusted total returns for its shareholders.

What assets does the Investment Portfolio Segment focus on?

It focuses on residential and commercial mortgage loans, RMBS, non-mortgage- and mortgage-related derivatives, and debt and equity in loan origination companies.

What does the Longbridge Segment specialize in?

The Longbridge Segment specializes in the origination and servicing of reverse mortgage loans.

How does Ellington Financial Inc. acquire reverse mortgage loans?

The company acquires reverse mortgage loans both through its origination activities and through secondary market purchases.

What recent achievements has Ellington Financial Inc. made?

Recent achievements include enhanced portfolio performance and strategic acquisitions that have bolstered the company's market position.

What is Ellington Financial Inc.'s financial condition?

Ellington Financial Inc. maintains a robust financial condition with a well-capitalized balance sheet and a disciplined investment strategy.

What is unique about Ellington Financial Inc.'s approach?

Ellington Financial Inc. employs a strategic approach with a diversified portfolio to mitigate risks and capitalize on market opportunities.

Ellington Financial Inc.

NYSE:EFC

EFC Rankings

EFC Stock Data

1.10B
87.41M
3.59%
56.19%
4.75%
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United States of America
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