Ellington Financial Inc Stock Price, News & Analysis

Ellington Financial announced the federal income tax treatment of 2020 distributions on common and preferred stock. Total distributions for common stock reached $1.30 per share, with components classified as Qualified REIT Dividends, Qualified Dividends, Capital Gain Distributions, and Return of Capital. For preferred stock, total distributions were $1.725005 per share, including amounts treated as Qualified REIT Dividends and Capital Gain Distributions. Shareholders are advised to consult their tax advisors and verify Form 1099 data for accurate tax reporting.

Ellington Financial (NYSE: EFC) has announced the appointment of Dr. Ronald I. Simon as the new Chairman of the Board, succeeding Thomas F. Robards, who remains an Independent Director. Dr. Simon has been an Independent Director since 2007. Additionally, Stephen J. Dannhauser, former chairman of Weil, Gotshal & Manges LLP, has joined the Board as an Independent Director. Laurence Penn, CEO of EFC, expressed confidence in both leadership appointments, highlighting their expertise and contributions to the company's future growth.

Ellington Financial (NYSE: EFC) has declared a monthly dividend of $0.10 per common share, payable on February 25, 2021, to stockholders of record as of January 29, 2021. Additionally, a quarterly dividend of $0.421875 per share on the 6.750% Series A Preferred Stock will be paid on February 1, 2021. The estimated book value per common share is $17.40 as of December 31, 2020, factoring in the previously announced monthly dividend.

Ellington Financial has declared a monthly dividend of $0.10 per common share, payable on January 25, 2021. The dividend is issued to stockholders of record as of December 31, 2020. The estimated book value per common share stands at $16.98 as of November 30, 2020, accounting for the previously announced monthly dividend. However, the estimated book value is subject to material changes due to market volatility and factors arising from the COVID-19 pandemic. The company warns that its actual financial results may differ from these estimates.

Ellington Financial Inc. (NYSE: EFC) reported an estimated book value per common share of $16.63 as of October 31, 2020, incorporating a monthly dividend of $0.09, payable on November 25, 2020. The company cautions that this estimate may vary following month-end valuation procedures. Factors influencing these changes include market volatility due to COVID-19, interest rate shifts, mortgage default rates, and the company's compliance with REIT regulations. The company will not update this estimate until the issuance of its financial statements.

Ellington Financial reported strong financial results for Q3 2020, with a net income of $46.2 million, or $1.06 per share. Core earnings were $18.0 million, equating to $0.41 per share, while book value per share reached $16.45. The Company declared a dividend of $0.10 per share, reflecting a 9.3% yield. Cash and equivalents stood at $126.8 million, with a long credit portfolio valued at $1.405 billion, an increase of 12% from the previous quarter. The Company maintained a debt-to-equity ratio of 2.7:1

Ellington Financial (NYSE: EFC) has successfully closed a $219.7 million securitization backed by non-qualified residential mortgage loans, primarily acquired from LendSure Mortgage Corp. This marks the company’s second securitization of the year. CFO JR Herlihy praised LendSure's recovery in loan production and highlighted its excellent loan performance as crucial for Ellington's earnings. The securitization's senior tranche received AAA ratings from Fitch and KBRA, while the company retained certain tranches to comply with credit risk retention rules.

Ellington Financial Inc. (NYSE: EFC) will release its financial results for Q3 2020 on November 5, 2020, post-market close. A conference call is scheduled for November 6, 2020, at 11:00 a.m. ET to discuss the results. Investors can participate by calling (877) 241-1233, with international callers dialing (810) 740-4657, using passcode 2494293. A replay will be available from November 6 to November 20, and an investor presentation will also be posted on the company's website after the results are released. For more information, visit www.ellingtonfinancial.com.

Ellington Financial has declared a monthly dividend of $0.09 per common share, payable on November 25, 2020. The dividend is for stockholders of record as of October 30, 2020. Additionally, a quarterly dividend of $0.421875 per share on the Company's 6.750% Series A Preferred Stock will be paid on October 30, 2020. The estimated book value per common share is reported at $16.44 as of September 30, 2020, reflecting the impact of the announced monthly dividends.