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 (NYSE: EFC) reported an estimated book value per common share of $13.86 as of April 30, 2024.
This estimate includes the impact of a previously announced monthly dividend of $0.13 per share, which is payable on May 28, 2024, to shareholders of record on April 30, 2024.
The ex-dividend date was April 29, 2024.
Ellington Financial Inc. (NYSE: EFC) reported Q1 2024 results with net income of $26.9 million, or $0.32 per share, driven by credit strategy, Longbridge, and Agency strategy. Adjusted Distributable Earnings of $23.7 million. Book value per share was $13.69. Recourse debt-to-equity ratio of 1.8:1. Cash of $187.5 million. Dividend yield of 13.3%. Strong performance in non-QM loans, secondary CLO, CMBS, and non-Agency RMBS portfolios. Completed inaugural securitization of proprietary reverse mortgage loans. Quarterly results driven by expanding RTL portfolio, CLO purchases, commercial mortgage bridge loan growth. Non-QM securitization completed with significant gains. Focus on higher-yielding strategies, origination profits at Longbridge, and managing sub-performing loans.
Ellington Financial Inc. (NYSE: EFC) has declared a monthly dividend of $0.13 per share of common stock, payable on June 25, 2024. This announcement reflects the company's commitment to rewarding its shareholders with consistent dividends.
Ellington Financial Inc. announced the completion of a $300 million securitization backed by non-qualified residential mortgage loans. The company retained a majority share of the loans, with the rest contributed by funds managed by Ellington Management Group, L.L.C. The securitization received AAA(sf) ratings from S&P, and the company has the option to call the securitization after the optional redemption date.
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