Ellington Residential Mortgage REIT Stock Price, News & Analysis

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.

Ellington Residential Mortgage REIT (NYSE: EARN) reported its financial results for Q4 2020, showing a net income of $7.4 million ($0.60 per share) and full-year net income of $20.1 million ($1.63 per share). Core Earnings amounted to $4.2 million ($0.34 per share). The company maintained a book value of $13.48 per share and achieved an economic return of 4.5% for the quarter and 13.1% for the year. However, net interest margin decreased to 2.12%, and total mortgage-backed securities held fell to $1.08 billion by year-end.

Ellington Residential Mortgage REIT (NYSE: EARN) has appointed C. C. Melvin "Mel" Ike to its Board of Trustees, effective immediately, following the resignation of Menes O. Chee. Mr. Ike brings significant experience from the Tactical Opportunities Group at Blackstone, enhancing the Board's capabilities. Laurence Penn, CEO of EARN, expressed excitement about Mr. Ike's joining, highlighting the smooth transition and thanking Mr. Chee for his service. Ike expressed enthusiasm about collaborating with the Board to deliver excellent returns for shareholders.

Ellington Residential Mortgage REIT (NYSE: EARN) will release its financial results for Q4 2020 after market close on February 16, 2021. A conference call is scheduled for February 17, 2021, at 11:00 a.m. ET to discuss the results. Interested parties can participate via phone or a live webcast available on the company's website. An investor presentation will also be posted on its website after the results are released.

The company focuses on acquiring and managing residential mortgage-related assets, particularly mortgage-backed securities.

Ellington Residential Mortgage REIT (NYSE: EARN) announced the federal income tax treatment of 2020 distributions for shareholders, aiding in tax reporting. Total paid distributions for 2020 were $1.1200 per share, with components classified as Ordinary Dividends and Capital Gain Distributions. Shareholders are advised to review their Forms 1099 and consult tax advisors regarding their tax consequences. Notably, no qualified dividend income was generated for 2020, and all ordinary dividends are treated as qualified REIT dividends. The company cautions that actual results may vary due to market changes.

Ellington Residential Mortgage REIT (NYSE: EARN) has appointed Robert B. Allardice, III as Chairman of the Board of Trustees, succeeding Thomas F. Robards who remains an Independent Trustee. Allardice has served as Chairman of the Audit Committee since 2013 and brings extensive knowledge to his new role. CEO Laurence Penn expressed optimism about Allardice’s leadership, emphasizing a focus on delivering strong returns for shareholders. The company is a mortgage REIT specializing in residential mortgage-backed securities.

Ellington Residential Mortgage REIT (NYSE: EARN) has declared a fourth-quarter 2020 dividend of $0.28 per share. This dividend is payable on January 25, 2021, to shareholders on record as of December 31, 2020. The Company specializes in managing residential mortgage-backed securities backed by U.S. government agencies or sponsored enterprises. Investors should be aware of potential risks as the Company faces uncertainties regarding interest rates, default rates, and market conditions, which could impact future performance.

Ellington Residential Mortgage REIT (NYSE: EARN) announced it will release its financial results for Q3 2020 on November 5, 2020, before market open. A conference call to discuss these results will follow at 11:00 a.m. ET on the same day. Interested parties can participate via phone or through a live webcast available on their website. Additionally, an investor presentation will be posted prior to the call. The REIT focuses on acquiring and managing residential mortgage-related assets, primarily residential mortgage-backed securities guaranteed by U.S. government agencies.