---
schema_version: "secwatch.filing_event.v1"
accession: "0001560672-24-000042"
form_type: "8-K"
ticker: "EARN"
cik: "0001560672"
company_name: "Ellington Credit Co"
filed_at: "2024-05-14T23:59:59+00:00"
generated_at: "2026-06-02T00:47:46.583958+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Ellington Credit Q1 net income $0.20/sh; shifts to CLO focus, plans closed-end fund conversion

## Summary
- Net income $4.0M ($0.20/sh); adjusted distributable earnings $5.3M ($0.27/sh) covered $0.24/sh in dividends.
- CLO portfolio doubled to $45.1M; targets >$100M while retaining Agency MBS for 1940 Act exemption.
- Board approved shift to corporate CLOs, revoked REIT status; conversion to closed-end fund/RIC planned later in 2024.
- Book value $7.21/sh; net interest margin rose to 3.03%; debt-to-equity 4.8:1 (adjusted 4.9:1).
- CEO says transition on track, expects higher risk-adjusted returns and less volatility for shareholders.

## SEC filing metadata
- accession: 0001560672-24-000042
- form_type: 8-K
- ticker: EARN
- cik: 0001560672
- company_name: Ellington Credit Co
- filed_at: 2024-05-14T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1560672/000156067224000042/0001560672-24-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1560672/000156067224000042/earn-20240514.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001560672-24-000042
- JSON: https://secwatch.observer/filing/0001560672-24-000042.json
- Plain text: https://secwatch.observer/filing/0001560672-24-000042.txt

## Key facts
- Earnings Releases
  Ellington Credit Co reported quarter ended March 31, 2024 results: net income $4.0 million, or $0.20 per share, EPS $0.20 per share.
  - Period: quarter ended March 31, 2024
  - Net income: $4.0 million, or $0.20 per share
  - EPS: $0.20 per share
  - Result: reported results
  source text: On May 14, 2024, the Company issued a press release announcing its financial results for the quarter ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1560672/000156067224000042/0001560672-24-000042-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.