Ellington Residential Mortgage REIT (EARN) To Go Ex-Dividend on May 31st

Posted by Michelle Swanson on May 9th, 2024

Ellington Residential Mortgage REIT (NYSE:EARN – Get Free Report) announced a monthly dividend on Tuesday, May 7th, Wall Street Journal reports. Investors of record on Friday, May 31st will be given a dividend of 0.08 per share by the real estate investment trust on Tuesday, June 25th. This represents a $0.96 annualized dividend and a dividend yield of 13.62%. The ex-dividend date of this dividend is Friday, May 31st.

Ellington Residential Mortgage REIT has raised its dividend by an average of 39.3% annually over the last three years. Ellington Residential Mortgage REIT has a dividend payout ratio of 87.3% indicating that 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 Residential Mortgage REIT to earn $1.02 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 94.1%.

Ellington Residential Mortgage REIT Price Performance

EARN remained flat at $7.05 during midday trading on Thursday. The company’s stock had a trading volume of 93,478 shares, compared to its average volume of 245,351. The company has a market cap of $139.73 million, a PE ratio of 27.04 and a beta of 1.86. Ellington Residential Mortgage REIT has a fifty-two week low of $5.09 and a fifty-two week high of $7.64. The firm has a 50 day moving average price of $6.63 and a two-hundred day moving average price of $6.20.

Analysts Set New Price Targets

A number of analysts recently commented on EARN shares. StockNews.com raised Ellington Residential Mortgage REIT from a “sell” rating to a “hold” rating in a research note on Thursday, March 7th. JMP Securities reaffirmed a “market perform” rating on shares of Ellington Residential Mortgage REIT in a research note on Thursday, April 18th.

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About Ellington Residential Mortgage REIT

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Ellington Residential Mortgage REIT, a real estate investment trust, acquires, invests in, and manages 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, such as non-agency CMOs, such as investment grade and non-investment grade.