Welcome to our dedicated page for Ellington Residential Mortgage REIT news (Ticker: EARN), a resource for investors and traders seeking the latest updates and insights on Ellington Residential Mortgage REIT stock.
Ellington Credit Company (NYSE: EARN) is a non-diversified closed-end fund that regularly issues detailed updates on its investment portfolio, earnings, and distributions. This news page aggregates company press releases and related disclosures so readers can review how the fund’s CLO-focused strategy and income profile are evolving over time.
News items for Ellington Credit Company frequently include announcements of monthly common dividends, with the Board of Trustees declaring per-share distribution amounts along with record and payment dates. These dividend releases are often accompanied by corresponding Form 8-K filings that formally document the distributions as material events.
Another key category of news consists of quarterly financial results. In these releases, the fund reports net asset value per share, net investment income, adjusted net investment income, net income, and the composition of its CLO portfolio across U.S. and European debt and equity tranches. The company also provides narrative commentary on credit markets, CLO performance, and the impact of active trading, hedging, and portfolio repositioning.
Ellington Credit Company also publishes announcements about the release dates of earnings, conference calls, and investor presentations. These items explain when financial results will be issued, how to access live conference calls and webcasts, and where to find supporting investor materials. Together, these news categories give investors and analysts a structured view of the fund’s distributions, performance metrics, and communication schedule.
By following this news feed, readers can monitor Ellington Credit Company’s reported CLO portfolio developments, income measures, and Board-approved distributions as they are disclosed through official press releases and related filings.
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.
Ellington Credit (NYSE: EARN) has announced that its Board of Trustees has declared a monthly common dividend of $0.08 per share. The dividend will be payable on April 25, 2025 to shareholders of record as of March 31, 2025.
The company outlined several potential risk factors that could affect future performance, including: interest rate changes, market volatility, default rates on corporate loans, borrowing capacity, regulatory changes, and their ability to maintain Investment Company Act exclusion. Additionally, they highlighted specific business focuses including their strategy regarding collateralized loan obligations (CLOs) and potential conversion to a closed-end fund/RIC.
Ellington Credit Company (NYSE: EARN) has scheduled its fourth quarter 2024 earnings release and conference call. The company will release financial results for Q4 2024 after market close on March 12, 2025, followed by a conference call on March 13, 2025 at 11:00 a.m. Eastern Time.
The conference call will be accessible via telephone and webcast. Participants can dial (800) 225-9448 (US) or (203) 518-9708 (International) with conference code EARNQ424. A replay will be available until March 20, 2025. The company will also post an investor presentation on its website concurrent with the earnings release.
Ellington Credit (NYSE: EARN) has announced its Board of Trustees' declaration of a monthly common dividend of $0.08 per share. The dividend will be payable on March 25, 2025, to shareholders of record as of February 28, 2025.
The company's forward-looking statements highlight various risk factors that could affect future performance, including interest rate changes, market volatility, default rates on corporate loans, borrowing capacity, regulatory changes, and their ability to maintain Investment Company Act exclusion. Additional considerations include their potential pivot to focus on collateralized loan obligations (CLOs), utilization of net operating loss carryforwards, and possible conversion to a closed-end fund/RIC.
Ellington Credit Company (NYSE: EARN) has released preliminary Q4 2024 results, reporting an estimated book value per share of $6.52-$6.54, including $0.24 in quarterly dividends. The company posted an estimated net loss of $(0.08)-$(0.06) per share, while Adjusted Distributable Earnings are expected at $0.26-$0.28 per share.
Total shareholders' equity is estimated at $195 million as of December 31, 2024. The company's portfolio composition shows significant changes, with CLO allocation increasing to 72% from 58% in the previous quarter. The CLO portfolio reached approximately $170 million, while the MBS portfolio stood at $510 million.
The company is proceeding with its planned conversion to a Delaware registered closed-end fund, focusing on corporate CLO investments, with completion expected by April 1, 2025.
Ellington Credit Company (NYSE: EARN) has released information about the federal income tax treatment of distributions deemed paid in 2024 on its common shares. The company has made this information available on its website under the dividend and tax information section. Throughout 2024, the company operated as a taxable C-Corp.
Ellington Credit Company (NYSE: EARN) has received shareholder approval to convert to a Delaware registered closed-end fund, with a focus on corporate CLO investments. The conversion received strong support, with over 93% of votes cast in favor, and excluding abstentions, over 95% approval. The company will be treated as a regulated investment company (RIC) under the Internal Revenue Code.
The conversion process is expected to be completed in the near future, and the company's Series A Preferred Shares were automatically redeemed following the vote. Management believes this strategic transformation will enhance their ability to deliver strong earnings and create additional shareholder value.
Ellington Credit (NYSE: EARN) has announced that its Board of Trustees has declared a monthly common dividend of $0.08 per share. The dividend will be payable on February 25, 2025, to shareholders of record as of January 31, 2025.
Ellington Credit Company (NYSE: EARN) announced plans to hold a special meeting in early 2025 to approve its conversion to a Delaware registered closed-end fund focused on corporate CLO investments. Despite receiving over 91% approval votes at the December 2024 meeting, the conversion threshold wasn't reached due to low voter turnout.
To address this, the company has issued 1,000 Series A Preferred Shares, each with 25,000 votes, designed to mirror common shareholders' votes. These preferred shares, sold to Ellington Credit Company Management for $1,000, will only vote on conversion proposals and will be automatically redeemed upon approval. The shares aim to amplify voting preferences without overriding common shareholders' expressed preferences.
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