Ellington Financial Inc. reports specialty finance developments tied to its investment portfolio, Longbridge reverse mortgage business, and recurring capital returns. The company invests in residential and commercial mortgage loans, mortgage-backed securities, reverse mortgage loans, mortgage servicing rights, consumer loans, asset-backed securities, collateralized loan obligations, derivatives, and strategic investments in loan origination companies.
Company news commonly covers quarterly results, estimated book value per common share, monthly common dividends, preferred stock dividends, securitization activity, and portfolio performance across credit and mortgage-related assets. Ellington Financial is externally managed and advised by Ellington Financial Management LLC, an affiliate of Ellington Management Group, L.L.C.
Ellington Financial Inc. (NYSE: EFC) declared a monthly dividend of $0.15 per share, payable on April 25, 2022. Additionally, it announced quarterly dividends of $0.421875 for its 6.750% Series A Preferred Stock and $0.390625 for its 6.250% Series B Preferred Stock, both payable on May 2, 2022. All dividends are for stockholders of record as of March 31, 2022. The company emphasized ongoing risks associated with forward-looking statements, including interest rate fluctuations and changes in government regulations.
Ellington Financial has announced the acquisition of an additional 49.6% stake in Longbridge Financial from Home Point Capital for approximately $75 million. Following the transaction, Ellington will hold almost all of Longbridge's equity. Longbridge, a reverse mortgage lender, increased its annual loan volume to $2.2 billion from 2019 to 2021 and ranks as the third largest reverse mortgage lender in the U.S., holding an 18% market share. The acquisition is expected to close in Q2 2022, enhancing Ellington's position in the reverse mortgage market.
Ellington Financial Inc. (NYSE: EFC) reported strong financial results for Q4 2021, achieving net income of $34.3 million, or $0.61 per share, and core earnings of $24.9 million, equivalent to $0.44 per share. Total equity increased by 20% due to the issuance of 5.75 million common shares and 4.8 million preferred shares. The credit portfolio grew by 22%, reaching $2.1 billion. Despite a gross loss of $1.4 million from the Agency strategy, the company maintained a solid dividend yield of 10.5%. As of December 31, 2021, the debt-to-equity ratio was 2.7:1, reflecting prudent leverage practices.
Ellington Financial Inc. (NYSE: EFC) announced an estimated book value per share of $18.17 as of January 31, 2022. This figure incorporates a monthly dividend of $0.15, scheduled for payment on February 25, 2022, to shareholders of record from January 31, 2022. The company cautioned that this estimated book value may change after further valuation procedures and is not necessarily indicative of future performance.
Ellington Financial has declared a monthly dividend of $0.15 per common share, payable on March 25, 2022. This dividend will be distributed to stockholders of record as of February 28, 2022. The announcement highlights the company’s commitment to returning value to its shareholders amidst various financial uncertainties, such as interest rate fluctuations and mortgage default rates.
Ellington Financial (NYSE: EFC) will release its financial results for Q4 2021 on February 23, 2022, after market close. A conference call to discuss these results is scheduled for February 24, 2022, at 11:00 a.m. ET. Callers can dial (877) 876-9173 and reference code EFCQ421 for participation. A replay will be available from 2:00 p.m. on February 24 until March 3. An investor presentation will also be posted on its website after the earnings release.
Ellington Financial Inc. (NYSE: EFC) has announced the publication of federal income tax treatment information for distributions paid in 2021 on its common and preferred stock. This crucial information can be found on the company’s website via links for the common stock, Series A preferred stock, and Series B preferred stock. The company is actively engaged in a broad range of financial investments, including mortgage loans and asset-backed securities, and is externally managed by Ellington Financial Management LLC.
Ellington Financial Inc. (NYSE: EFC) announced the successful closure of a $417 million securitization backed by non-qualified residential mortgage (non-QM) loans, primarily acquired from LendSure Mortgage Corp. The securitization's senior tranche achieved AAA ratings from Fitch and KBRA. To comply with credit risk retention rules, the Company retained certain tranches and holds the option to call the securitization post-redemption date. This move reflects Ellington's strategy to enhance its investment portfolio in diverse financial assets.
Ellington Financial Inc. (NYSE: EFC) has announced an estimated book value per share of $18.39 as of December 31, 2021. This estimate reflects the adjustment due to the monthly dividend of $0.15 per common share, payable on January 25, 2022. Shareholders of record as of December 30, 2021, will receive this payment, with an ex-dividend date set for December 29, 2021. The company cautions that this book value estimate may change significantly following month-end and quarter-end valuations.
Ellington Financial Inc. (NYSE: EFC) has announced a strategic partnership with Sheridan Capital, LLC, involving an equity investment in the commercial real estate bridge loan originator. Sheridan Capital's Principal, Aaron Kurlansky, emphasized the partnership’s potential to enhance their unique loan offerings. CEO Laurence Penn highlighted over a decade of successful collaboration with Sheridan, which is known for its efficient financing solutions. In 2021, Sheridan originated over $575 million in senior commercial mortgage loans, showcasing its industry standing.