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) reported Q4 2022 financial results with a net income of $22.7 million, equating to $0.37 per share. The investment portfolio contributed $19.0 million, with $7.2 million from credit and $11.8 million from the Agency strategy. Adjusted Distributable Earnings amounted to $26.0 million, or $0.42 per share. The book value stood at $15.05, with a dividend yield of 13.4%. The Company experienced a decrease in its credit portfolio, down 7% to $2.544 billion. Longbridge, acquired in October 2022, yielded positive performance despite lower origination volumes. The recourse debt-to-equity ratio was 2.5:1, reflecting effective risk management.
Ellington Financial Inc. (NYSE: EFC) will announce its financial results for the quarter ending December 31, 2022, after market close on February 23, 2023. A conference call will be held on February 24, 2023, at 11:00 a.m. ET to discuss these results. Participants can join by dialing 800-343-4849 or 203-518-9708 for international calls, using the conference code EFCQ422. A replay of the call will be available starting February 24, 2023, at 2:00 p.m. ET. An investor presentation will also be posted on the company’s website following the financial results release.
Ellington Financial Inc. (NYSE: EFC) has successfully closed a $330 million securitization backed by non-qualified residential mortgage loans. The firm contributed around 53% of the loans in this securitization, while the remainder was provided by funds managed by Ellington Management Group. The securitization has received favorable ratings, with the senior tranche earning AAA ratings from both Fitch and KBRA. This move strengthens Ellington Financial's position in the market, highlighting its strategic involvement in mortgage-backed securities.
Ellington Financial Inc. (NYSE: EFC) has declared a monthly dividend of $0.15 per common share, which will be paid on March 27, 2023. The record date for stockholders is February 28, 2023. This dividend reflects the company's ongoing commitment to returning value to its shareholders, as it continues to navigate a complex economic environment. Additionally, the company manages a diverse portfolio of financial assets, including mortgage loans and various securities, under the guidance of Ellington Financial Management LLC.
Ellington Financial Inc. (NYSE: EFC) has announced a public offering of 4 million shares of its 8.625% Series C Fixed-Rate Reset Cumulative Redeemable Preferred Stock, priced at $25 per share, aiming for gross proceeds of $100 million. Underwriters have an option to purchase an additional 600,000 shares for over-allotments. The offering, expected to close around February 6, 2022, will use the net proceeds for asset acquisition and general corporate purposes. The Series C shares will be listed on the New York Stock Exchange under the symbol 'EFC PR C.'
Ellington Financial has announced the commencement of an underwritten public offering of its Series C Fixed-Rate Reset Cumulative Redeemable Preferred Stock, aimed at acquiring targeted assets. The Company will apply to list the Series C Preferred Stock on the NYSE under the ticker 'EFC PR C.' Proceeds will also support working capital and general corporate purposes. The offering will be made under an existing shelf registration statement effective since January 24, 2023. Piper Sandler & Co. is the sole bookrunning manager for this offering.
Ellington Financial Inc. (NYSE: EFC) announced the posting of federal income tax treatment information for distributions paid in 2022 on its common and preferred stock. Investors can access details via specific links provided for common, Series A, and Series B preferred stock distributions. This communication aims to inform shareholders about their tax obligations related to earnings distributions.
Ellington Financial Inc. (NYSE: EFC) reported an estimated book value per share of
Ellington Financial Inc. (NYSE: EFC) has declared a monthly dividend of $0.15 per common share, payable on February 27, 2023 to stockholders of record as of January 31, 2023. The payment reflects the company's commitment to returning value to shareholders. Investors should note the cautionary statements regarding forward-looking projections and the associated risks. For further details, please refer to the company's filings with the SEC.
Ellington Financial Inc. (NYSE: EFC) has successfully closed a $365 million securitization backed by non-qualified residential mortgage loans. Ellington Financial contributed approximately 85% of the loans in the securitization, with the remainder provided by a managed fund. The securitization received AAA ratings for its senior tranche from Fitch and KBRA, highlighting its strong credit quality. This move enhances Ellington's financial stability by diversifying its asset base and demonstrates confidence in the non-QM loan market.
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