Ellington Residential Mortgage REIT Stock Price, News & Analysis

Ellington Credit Company (NYSE: EARN) has declared a monthly dividend of $0.08 per share for its common stockholders. The dividend will be paid on July 31, 2025, to shareholders of record as of June 30, 2025. The announcement comes as part of the company's regular dividend distribution program, demonstrating its commitment to providing regular income to shareholders. The press release includes extensive forward-looking statements and risk factors, highlighting various potential risks such as interest rate changes, market volatility, regulatory changes, and the company's ongoing conversion to a closed-end fund/RIC structure.

Ellington Credit Company (NYSE: EARN) reported financial results for Q1 2025, with a net loss of $7.9 million (-$0.23 per share) but Adjusted Distributable Earnings of $9.0 million ($0.26 per share). The company's book value stood at $6.08 per share as of March 31, 2025.

Key highlights include a significant expansion of their CLO portfolio to $249.9 million, up from $171.1 million in December 2024, with capital allocation to CLOs increasing to 81%. The company maintained a debt-to-equity ratio of 2.2:1 and held cash and cash equivalents of $17.4 million.

On April 1, 2025, EARN completed its conversion to a Delaware-domiciled closed-end fund focused on CLOs, registered under the Investment Company Act of 1940, and intends to operate as a Regulated Investment Company. The company declared a monthly dividend of $0.08 per share, representing a 17.1% dividend yield based on the May 19 closing price.

Ellington Credit Company (NYSE: EARN) has announced its schedule for releasing Q1 2025 financial results. The company will release its earnings report after market close on May 20, 2025, followed by a conference call on May 21, 2025 at 11:00 a.m. Eastern Time.

Investors can participate via phone by dialing (800) 225-9448 (US) or (203) 518-9708 (International) with conference code EARNQ125. The call will also be webcast live through the company's website. An investor presentation will be made available on the company's website after market close on May 20, and a replay of the call will be accessible until May 28, 2025.

Ellington Credit Company (NYSE: EARN) has announced a monthly dividend of $0.08 per share. The dividend will be payable on June 30, 2025 to shareholders of record as of May 30, 2025. The company's announcement includes extensive forward-looking statements addressing various risk factors that could affect their business, including interest rate changes, market volatility, regulatory changes, and their recent conversion to a closed-end fund/RIC structure.

Ellington Credit (NYSE: EARN) has declared a monthly common dividend of $0.08 per share, scheduled for payment on May 27, 2025, to shareholders of record as of April 30, 2025.

The company has implemented a Dividend Reinvestment Plan (DRP) following its recent conversion to a closed-end fund registered under the Investment Company Act of 1940. The DRP automatically reinvests cash distributions unless shareholders or their brokers specifically opt to receive cash before the record date.

For detailed information about the DRP, shareholders can refer to the Fund's Current Report on Form 8-K or Registration Statement on Form N-2, both filed on April 1, 2025.

Ellington Credit Company (NYSE: EARN) has announced it will ring the closing bell at the New York Stock Exchange on April 2, 2025. The ceremony marks two significant milestones: the company's successful conversion to a closed-end fund focused on corporate collateralized loan obligation (CLO) investments and the 30-year anniversary of Ellington Management Group, EARN's investment adviser's parent company.

Ellington Credit Company (NYSE: EARN) has announced the completion of its conversion to a Delaware-domiciled closed-end fund registered under the Investment Company Act of 1940. As part of this strategic transformation, the Fund plans to:

• Divest its remaining Agency MBS pools
• Acquire additional corporate collateralized loan obligations (CLOs)
• Operate as a Regulated Investment Company (RIC) under U.S. federal tax law
• Change its fiscal and tax year to end on March 31

The conversion represents a significant structural change in the Fund's operations and investment strategy, shifting focus towards CLO investments while adapting to new regulatory requirements.

Ellington Credit Company (NYSE: EARN) has secured all necessary approvals to convert to a Delaware-registered closed-end fund, effective April 1, 2025. Following the conversion, the company plans to:

• Divest remaining Agency MBS pools
• Acquire additional CLOs
• Operate under the Investment Company Act of 1940

CEO Laurence Penn expressed optimism about the transition, suggesting the timing could be advantageous given current market volatility and potentially create attractive investment opportunities. The company aims to enhance its ability to generate strong risk-adjusted returns and create additional shareholder value through this strategic transformation.

Ellington Credit Company (NYSE: EARN) reported Q4 2024 results with a net loss of $(2.0) million, or $(0.07) per share, while achieving Adjusted Distributable Earnings of $7.8 million ($0.27 per share). The company's book value stood at $6.53 per share, including $0.24 quarterly dividends.

Key metrics include:

• CLO portfolio grew 18% to $171.1 million, with capital allocation to CLOs increasing to 72%
• Net interest margin of 8.54% on credit, 3.24% on Agency, and 5.07% overall
• Debt-to-equity ratio of 2.9:1
• Cash and unencumbered assets totaling $111 million

Shareholders approved the company's conversion to a Delaware registered closed-end fund, transitioning from an MBS-focused REIT to a CLO-focused strategy. The conversion is expected to complete on April 1, 2025, with over 93% shareholder approval.