secwatch.observer — SEC 8-K summary
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Issuer:     Ellington Credit Co (EARN)
CIK:        0001560672
Form:       8-K
Filed at:   2024-03-06T23:59:59+00:00
Accession:  0001560672-24-000011
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EARN reports Q4 net income $12.4M ($0.75/sh); book value $7.32; CLO portfolio grows to $17.4M
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- Net income of $12.4M ($0.75 per share); Adjusted Distributable Earnings $4.6M ($0.27 per share).
- Book value per share $7.32 as of Dec 31, 2023; net interest margin improved to 2.19% overall.
- Debt-to-equity ratio decreased to 5.3:1 (adjusted) from 7.3:1 in prior quarter.
- CLO portfolio grew fourfold to $17.4M; company rotating from RMBS to CLOs.
- Agency RMBS outperformed hedges; CEO cites market rally and soft landing narrative.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1560672/000156067224000011/0001560672-24-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1560672/000156067224000011/earn-20240306.htm
  HTML page:      https://secwatch.observer/filing/0001560672-24-000011

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