secwatch.observer — SEC 8-K summary
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Issuer:     Ellington Credit Co (EARN)
CIK:        0001560672
Form:       8-K
Filed at:   2024-08-13T23:59:59+00:00
Accession:  0001560672-24-000068
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ellington Credit Q2 net loss $0.8M; adjusted distributable earnings $0.36/share; CLO portfolio doubles to $85.1M
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- Net loss of $0.8M ($0.04 diluted EPS); adjusted distributable earnings of $7.3M ($0.36 per share).
- Book value per share $6.91 as of June 30; monthly dividend $0.08 declared (14.1% yield based on $6.81 close).
- CLO portfolio increased to $85.1M (45% of net assets) from $45.1M as of March 31; total CLO holdings $108M as of Aug 9.
- Net interest margin on credit portfolio 13.41%, Agency 2.85%; overall 4.24%.
- Expect Q3 adjusted distributable earnings to decline from Q2 $0.36 but still exceed Q1 $0.27.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1560672/000156067224000068/0001560672-24-000068-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1560672/000156067224000068/earn-20240812.htm
  HTML page:      https://secwatch.observer/filing/0001560672-24-000068

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