Ellington Residential Mortgage REIT Stock Price, News & Analysis

Ellington Residential Mortgage REIT (NYSE: EARN) reported Q3 2021 results with net income of $0.9 million ($0.07 per share) and core earnings of $4.0 million ($0.31 per share). The book value per share stood at $12.28, including a third-quarter dividend of $0.30. The company switched to a monthly dividend schedule, declaring an inaugural monthly dividend of $0.10 per share, yielding 9.8%. Debt-to-equity ratio improved to 6.7:1, while cash and cash equivalents reached $61.2 million. The performance of RMBS was mixed, with higher-coupon securities outperforming lower-coupon ones.

Ellington Residential Mortgage REIT (NYSE: EARN) will announce its financial results for the quarter ended September 30, 2021, after market close on November 2, 2021. A conference call is scheduled for November 3, 2021, at 11:00 a.m. ET to discuss these results. Investors can participate by dialing (877) 876-9174 or joining via the company's website. A replay will be available from November 3 to November 10, 2021. An investor presentation will also be posted on the website after market close on November 2, 2021.

Ellington Residential Mortgage REIT (NYSE: EARN) has announced its inaugural monthly dividend of $0.10 per share, which will be paid on November 26, 2021, to shareholders of record as of October 29, 2021. This shift from quarterly to monthly dividends aims to attract income-oriented investors seeking consistent returns. CEO Laurence Penn stated that this change aligns with shareholder interests and expectations.

Ellington Residential Mortgage REIT (NYSE: EARN) announced a third quarter 2021 dividend of $0.30 per share, payable on October 25, 2021, to shareholders on record as of September 30, 2021. The company specializes in managing residential mortgage-backed securities, primarily those guaranteed by U.S. government agencies. This dividend declaration reflects the company's ongoing strategy to reward its investors amidst market fluctuations.

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.