Ellington Financial Inc. (EFC) to Issue Monthly Dividend of $0.13 on November 30th

Ellington Financial Inc. (NYSE:EFC) announced a monthly dividend on Wednesday, October 7th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.13 per share by the financial services provider on Monday, November 30th. This represents a $1.56 dividend on an annualized basis and a yield of 13.3%. The ex-dividend date of this dividend is Friday, October 30th.

Ellington Financial has a dividend payout ratio of 91.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Ellington Financial to earn $2.09 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 74.6%.

Ellington Financial Price Performance

Shares of EFC opened at $11.70 on Wednesday. The business’s 50 day moving average price is $12.49 and its 200-day moving average price is $12.93. Ellington Financial has a 52 week low of $11.27 and a 52 week high of $14.12.

Ellington Financial (NYSE:EFC) last posted its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.14. The company had revenue of $134.11 million during the quarter, compared to analysts’ expectations of $114.59 million. On average, analysts forecast that Ellington Financial will post 2.13 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Piper Sandler dropped their price target on shares of Ellington Financial from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. UBS Group lifted their target price on shares of Ellington Financial from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday, August 19th. Zacks Research downgraded Ellington Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Weiss Ratings lowered Ellington Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $14.25.

About Ellington Financial

Ellington Financial Inc is a real estate investment trust (REIT) that acquires, invests in and manages a portfolio of mortgage-related and other financial assets. The company focuses primarily on residential and commercial mortgage loans, mortgage-backed securities and related investments.

Its investment activities may include agency and non-agency residential mortgage-backed securities, commercial mortgage-backed securities, residential and commercial mortgage loans, mortgage servicing rights and consumer loans.