Ellington Residential Q1 net income $2.3M ($0.17/sh); ADE $0.21/sh; book value $8.31

Ellington Credit Co

Net income of $2.3M ($0.17 diluted EPS); Adjusted Distributable Earnings of $2.8M ($0.21/sh).
Book value per share $8.31 as of March 31, 2023, after $0.24/sh dividends paid in Q1.
Monthly dividend of $0.08/sh declared on May 8, 2023; dividend yield 13.7% based on $7.02 close.
Debt-to-equity ratio 7.6:1 (7.5:1 adjusted); net mortgage assets-to-equity ratio 6.9:1.
CEO cited 1.8% economic return; rotation from low-coupon MBS and reduced leverage amid bank turmoil.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ellington Credit Co reported the quarter ended March 31, 2023 results: net income $2.3 million, or $0.17 per share, EPS $0.17 per share.

Period: the quarter ended March 31, 2023
Net income: $2.3 million, or $0.17 per share
EPS: $0.17 per share
Result: reported results

Exact text from the filing

On May 11, 2023, the Company issued a press release announcing its financial results for the quarter ended March 31, 2023.

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Ellington Credit Co filing history →

Source: SEC EDGAR

accession 0001560672-23-000043

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