Welcome to our dedicated page for Ellington Financial news (Ticker: EFC), a resource for investors and traders seeking the latest updates and insights on Ellington Financial stock.
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 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.