Ellington Residential Mortgage REIT (EARN) To Go Ex-Dividend on April 29th

Ellington Residential Mortgage REIT (NYSE:EARN) declared a monthly dividend on Monday, April 8th, Zacks reports. Shareholders of record on Tuesday, April 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, May 28th. This represents a $0.96 annualized dividend and a yield of 14.20%. The ex-dividend date is Monday, April 29th.

Ellington Residential Mortgage REIT has decreased its dividend by an average of 5.0% annually over the last three years. Ellington Residential Mortgage REIT has a payout ratio of 87.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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 Stock Performance

NYSE EARN opened at $6.76 on Friday. Ellington Residential Mortgage REIT has a one year low of $5.09 and a one year high of $7.64. The company has a 50-day simple moving average of $6.49 and a 200-day simple moving average of $6.13. The firm has a market capitalization of $133.98 million, a PE ratio of 26.00 and a beta of 1.87.

Analysts Set New Price Targets

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

Ellington Residential Mortgage REIT Company Profile

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.