Ellington Residential Mortgage REIT (NYSE:EARN) announced a quarterly dividend on Wednesday, December 12th, Wall Street Journal reports. Investors of record on Monday, December 31st will be given a dividend of 0.34 per share by the real estate investment trust on Friday, January 25th. This represents a $1.36 annualized dividend and a dividend yield of 12.34%. The ex-dividend date is Friday, December 28th.
Ellington Residential Mortgage REIT has decreased its dividend payment by an average of 9.4% per year over the last three years. Ellington Residential Mortgage REIT has a dividend payout ratio of 106.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Ellington Residential Mortgage REIT to earn $1.10 per share next year, which means the company may not be able to cover its $1.48 annual dividend with an expected future payout ratio of 134.5%.
NYSE:EARN opened at $11.02 on Thursday. Ellington Residential Mortgage REIT has a one year low of $10.23 and a one year high of $13.07. The company has a market capitalization of $142.24 million, a P/E ratio of 6.12 and a beta of 0.55.
Ellington Residential Mortgage REIT (NYSE:EARN) last posted its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.05). Ellington Residential Mortgage REIT had a negative net margin of 1.77% and a positive return on equity of 10.35%. The company had revenue of $4.65 million during the quarter. Research analysts forecast that Ellington Residential Mortgage REIT will post 1.33 EPS for the current year.
EARN has been the subject of several recent research reports. ValuEngine raised Ellington Residential Mortgage REIT from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 15th. TheStreet raised Ellington Residential Mortgage REIT from a “d+” rating to a “c” rating in a report on Thursday, August 30th. Finally, Zacks Investment Research raised Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a report on Wednesday, September 26th.
In other Ellington Residential Mortgage REIT news, major shareholder Holdings L.P. Blackstone III acquired 7,000 shares of the stock in a transaction that occurred on Tuesday, November 13th. The stock was bought at an average cost of $10.79 per share, for a total transaction of $75,530.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 104,428 shares of company stock valued at $1,136,957 over the last quarter. 2.00% of the stock is currently owned by company insiders.
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Ellington Residential Mortgage REIT Company Profile
Ellington Residential Mortgage REIT, a real estate investment trust, specializes in acquiring, investing in, and managing residential mortgage-and real estate-related assets. It acquires and manages residential mortgage-backed securities (RMBS), including agency pools and agency collateralized mortgage obligations (CMOs); and non-agency RMBS comprising non-agency CMOs, such as investment grade and non-investment grade.
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