Ellington Residential Mortgage REIT (NYSE:EARN) announced a quarterly dividend on Tuesday, June 11th, NASDAQ reports. Investors of record on Friday, June 28th will be paid a dividend of 0.28 per share by the real estate investment trust on Thursday, July 25th. This represents a $1.12 dividend on an annualized basis and a yield of 10.23%. The ex-dividend date of this dividend is Thursday, June 27th.
Ellington Residential Mortgage REIT has decreased its dividend by an average of 11.0% annually over the last three years. Ellington Residential Mortgage REIT has a dividend payout ratio of 80.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Ellington Residential Mortgage REIT to earn $1.09 per share next year, which means the company may not be able to cover its $1.12 annual dividend with an expected future payout ratio of 102.8%.
EARN stock traded down $0.02 on Tuesday, reaching $10.95. The company’s stock had a trading volume of 1,240 shares, compared to its average volume of 52,208. The company has a fifty day moving average price of $11.02. Ellington Residential Mortgage REIT has a 12-month low of $10.14 and a 12-month high of $12.14. The stock has a market capitalization of $138.33 million, a price-to-earnings ratio of 8.17 and a beta of 0.77.
Ellington Residential Mortgage REIT (NYSE:EARN) last announced its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.04). The business had revenue of $3.06 million during the quarter. Ellington Residential Mortgage REIT had a return on equity of 9.78% and a net margin of 8.39%. On average, equities research analysts expect that Ellington Residential Mortgage REIT will post 1.03 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Ellington Residential Mortgage REIT from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 7th. TheStreet upgraded Ellington Residential Mortgage REIT from a “d” rating to a “c” rating in a report on Friday, May 3rd.
Ellington Residential Mortgage REIT Company Profile
Ellington Residential Mortgage REIT, a real estate investment trust, specializes in acquiring, investing in, and managing residential mortgage-and real estate-related assets. It acquires and manages residential mortgage-backed securities (RMBS), including agency pools and agency collateralized mortgage obligations (CMOs); and non-agency RMBS comprising non-agency CMOs, such as investment grade and non-investment grade.
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