Ellington Residential Mortgage REIT Stock Price, News & Analysis

Ellington Residential Mortgage REIT (NYSE: EARN) reported a net loss of $(4.5) million or $(0.36) per share for Q2 2021. However, Core Earnings reached $4.6 million or $0.37 per share, leading to a 7% increase in quarterly dividends to $0.30 per share. The book value stood at $12.53 per share, with a net interest margin of 2.04% and a debt-to-equity ratio of 7.0:1. The company completed a follow-on offering of 3.25 million shares, increasing its public float by 38%. Market challenges include declining interest rates and widening yield spreads on Agency RMBS.

Ellington Residential Mortgage REIT (NYSE: EARN) will announce its financial results for Q2 2021 on August 2, 2021, after market close. A conference call to discuss these results is scheduled for 11:00 a.m. ET on August 3, 2021. Call participants should dial (877) 876-9173 or (785) 424-1667 for international access, referencing code EARNQ221. An investor presentation will also be available on the company's website following the results release. EARN focuses on residential mortgage-related assets, primarily those backed by U.S. government guarantees.

Ellington Residential Mortgage REIT (NYSE:EARN) has announced a public offering of 3,250,000 common shares priced at $13.20 each. The offering includes 575,000 shares from the Company and 2,675,000 shares from Blackstone Tactical Opportunities EARN Holdings L.L.C. There’s an option for underwriters to purchase an additional 487,500 shares.

Proceeds will primarily be used for acquiring targeted assets, with some allocated for working capital. The offering is expected to close on June 17, 2021, subject to customary conditions.

Ellington Residential Mortgage REIT (NYSE: EARN) has initiated a public offering of 575,000 common shares, while a selling shareholder, Blackstone Tactical Opportunities EARN Holdings, intends to offer 2,675,000 shares. An additional 487,500 shares may be purchased by underwriters within 30 days. Net proceeds will be utilized for acquiring targeted assets, working capital, and general corporate purposes. The offering follows an existing shelf registration statement effective since May 10, 2021. The Company will not receive proceeds from the selling shareholder's shares.

Ellington Residential Mortgage REIT (NYSE: EARN) announced a second-quarter 2021 dividend of $0.30 per share, payable on July 26, 2021, to shareholders on record as of June 30, 2021. This represents a greater than 7% increase compared to the previous dividend. The company specializes in managing residential mortgage-backed securities, focusing on assets guaranteed by U.S. government agencies.

Ellington Residential Mortgage REIT (NYSE: EARN) reported its Q1 2021 financial results, showing net income of $0.1 million ($0.01 per share) and core earnings of $3.8 million ($0.31 per share). The book value stood at $13.22 per share, with a 9% dividend yield based on a closing stock price of $12.44. The debt-to-equity ratio was 6.8:1. Despite rising interest rates, the company maintained stable book value and core earnings. They successfully utilized their balance sheet to acquire attractively priced pools, and a dynamic hedging strategy is planned for future performance.

Ellington Residential Mortgage REIT (NYSE: EARN) announced that it will release its financial results for Q1 2021 on May 3, 2021, after market close. A conference call to discuss the results will occur on May 4, 2021, at 11:00 AM ET. Investors can participate by dialing (877) 437-3698 or visiting the Company's website for a live webcast. A replay will be available from May 4 to May 18, 2021. Additionally, an investor presentation will be posted on the website after the results are released, providing further insights into the company's financial performance.

Ellington Residential Mortgage REIT (NYSE: EARN) has appointed Mary McBride to its Board of Trustees, effective immediately. CEO Laurence Penn expressed enthusiasm about her extensive experience in commercial banking and as a director of publicly traded firms, expecting her contributions to enhance shareholder value. McBride has a rich background, including her role as President of CoBank and directorships at CatchMark Timber Trust and Intrepid Potash. Her appointment is seen as a strategic move to strengthen the Board's expertise and perspective on financial matters.

Ellington Residential Mortgage REIT (NYSE: EARN) has declared a $0.28 per share dividend for Q1 2021, with a payment date set for April 26, 2021. Shareholders on record as of March 31, 2021 will receive this dividend. The press release underscores the company's focus on residential mortgage-backed securities and includes cautionary statements regarding forward-looking projections and associated risks that could impact financial performance.