secwatch.observer — SEC 8-K summary
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Issuer:     Ellington Credit Co (EARN)
CIK:        0001560672
Form:       8-K
Filed at:   2023-05-11T23:59:59+00:00
Accession:  0001560672-23-000043
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1560672/000156067223000043/0001560672-23-000043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1560672/000156067223000043/earn-20230511.htm
  HTML page:      https://secwatch.observer/filing/0001560672-23-000043

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