secwatch.observer — SEC 8-K summary
======================================

Issuer:     Ellington Credit Co (EARN)
CIK:        0001560672
Form:       8-K
Filed at:   2023-03-06T23:59:59+00:00
Accession:  0001560672-23-000013
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ellington Residential Q4 net income $0.88/shr; book value $8.40; ADE $0.25/shr
------------------------------------------------------------------------------

- Net income $11.7M ($0.88/shr) vs dividends $0.24/shr; non-annualized economic return 11.1%.
- Adjusted Distributable Earnings $3.3M ($0.25/shr); net interest margin 1.37%.
- Book value $8.40/shr as of Dec 31, 2022; debt-to-equity 7.5:1 (adjusted 7.6:1).
- Agency RMBS portfolio $863.3M, down 5% QoQ; turnover 18%; pay-ups increased to 1.26%.
- CEO cites strong Q4 rebound in Agency RMBS; plans to rotate capital into non-Agency opportunities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1560672/000156067223000013/0001560672-23-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1560672/000156067223000013/earn-20230306.htm
  HTML page:      https://secwatch.observer/filing/0001560672-23-000013

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer