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.
Ellington Financial Inc. (NYSE: EFC) has announced that its Board of Directors has declared a monthly dividend of $0.13 per share of common stock. This dividend is payable on November 25, 2024 to stockholders of record as of October 31, 2024. The announcement demonstrates the company's commitment to providing regular returns to its shareholders, maintaining its dividend policy despite potential market fluctuations.
Ellington Financial Inc. (NYSE: EFC) has successfully completed a $288 million securitization backed by non-qualified residential mortgage (non-QM) loans. The company contributed approximately 83% of the loans in the securitization pool, with the remainder coming from funds managed by Ellington Management Group, L.L.C.
The debt tranches issued in the securitization were rated by S&P, with the senior-most tranches receiving AAA(sf) ratings. Ellington Financial retained certain tranches to comply with U.S. and EU credit risk retention rules, and also kept the option to call the securitization after the optional redemption date.
Ellington Financial Inc. (NYSE: EFC) has announced its estimated book value per share of common stock as of August 31, 2024. The company reported a figure of $13.69 per share, which includes the effect of the previously announced monthly dividend of $0.13 per share. This dividend is payable on September 25, 2024, to shareholders of record as of August 30, 2024, with the same ex-dividend date.
Ellington Financial (NYSE: EFC) has declared dividends for its common and preferred stocks. The monthly common stock dividend is $0.13 per share, payable on October 25, 2024, to stockholders of record as of September 30, 2024. Quarterly dividends were also declared for five series of preferred stocks, ranging from $0.390625 to $0.718763 per share, with various payment dates in September and October 2024. These dividends demonstrate EFC's commitment to providing regular income to its diverse shareholder base across different stock classes.
Ellington Financial Inc. (NYSE: EFC) has announced its estimated book value per share of common stock as of July 31, 2024. The company reported a book value of $13.80 per share, which includes the effect of the previously announced monthly dividend of $0.13 per share. This dividend is payable on August 26, 2024, to shareholders of record as of July 31, 2024. The ex-dividend date for this distribution aligns with the record date.
Ellington Financial Inc. (NYSE: EFC) has announced a monthly dividend of $0.13 per share of common stock. The dividend is payable on September 25, 2024 to stockholders of record as of August 30, 2024. This announcement demonstrates EFC's commitment to providing regular income to its shareholders. The monthly dividend structure allows investors to receive more frequent payouts compared to quarterly dividends, potentially enhancing cash flow for income-focused investors.
Ellington Financial (NYSE: EFC) reported Q2 2024 results. Net income attributable to common stockholders was $52.3 million or $0.62 per share. The investment portfolio contributed $69.1 million, while the credit strategy contributed $68.0 million. The book value per common share stood at $13.92. The company declared a monthly dividend of $0.13 per share, resulting in a 13.0% yield based on the August 5 closing price of $12.04 per share.
The recourse debt-to-equity ratio was 1.6:1, and cash and cash equivalents were $198.5 million. Notable performance was observed in the non-QM loan business and reverse mortgage platform Longbridge, contributing a non-annualized economic return of 4.5% for the quarter.
Key financial metrics include Adjusted Distributable Earnings of $28.3 million or $0.33 per share, a slight sequential increase in both adjusted distributable earnings and book value per share.
Ellington Financial Inc. (NYSE: EFC) has successfully completed a $232 million securitization backed by a pool of proprietary reverse mortgage loans. All loans were originated by Longbridge Financial, , a subsidiary of EFC, which will continue to service the underlying mortgage loans. The securitization's debt tranches were rated by Morningstar DBRS, with the senior-most tranches receiving AAA(sf) ratings. EFC retained certain tranches to comply with credit risk retention rules and maintained the option to call the securitization after the optional redemption date. This move demonstrates EFC's strategic approach to leveraging its subsidiary's loan origination capabilities and expanding its presence in the reverse mortgage market.
Ellington Financial Inc. (NYSE: EFC) has announced its estimated book value per share of common stock as of June 30, 2024. The company reported a book value of $13.92 per share, which includes the effect of the previously announced monthly dividend of $0.13 per share. This dividend is payable on July 25, 2024, to shareholders of record as of June 28, 2024. The ex-dividend date remains the same as the record date.
Ellington Financial (NYSE: EFC) will release its Q2 2024 financial results on August 6, 2024, after market close.
A conference call to discuss the results will be held at 11:00 a.m. ET on August 7, 2024. To join the call, dial (800) 579-2543 with the conference code EFCQ224. International callers use (785) 424-1789.
The call will be webcast live on the Company's website, where a replay will be available from 2:00 p.m. ET on August 7, 2024, until August 14, 2024. U.S. replay access: (800) 695-0974; international: (402) 220-1459.
An investor presentation will be posted on the Company's website under 'For Investors—Presentations' post-market close on August 6, 2024.
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