EARN
Ellington Residential Mortgage REITEARN
EARN
About: Ellington Credit Co is focused on corporate collateralized loan obligations (CLOs). It focuses on acquiring, investing in, and managing secondary CLO mezzanine debt and equity tranches. The company relies on risk management, including disciplined liquidity management and selective use of credit hedges, to preserve book value during times of stress. It also leverages Ellington's proprietary technology, analytics, and risk management systems to enhance underwriting and investment selection and to guide ongoing portfolio monitoring and surveillance.
Employees: 160
0
Funds holding %
of 7,407 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)
345% more call options, than puts
Call options by funds: $98K | Put options by funds: $22K
41% more first-time investments, than exits
New positions opened: 24 | Existing positions closed: 17
39% more repeat investments, than reductions
Existing positions increased: 25 | Existing positions reduced: 18
10% more funds holding
Funds holding: 67 [Q3] → 74 (+7) [Q4]
2% less capital invested
Capital invested by funds: $47.2M [Q3] → $46.4M (-$797K) [Q4]
2.94% less ownership
Funds ownership: 26.97% [Q3] → 24.02% (-2.94%) [Q4]
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$5.25
2%
downside
Avg. target
$5.88
10%
upside
High target
$6.50
22%
upside
2 analyst ratings
1 positive
50%
1 neutral
50%
0 negative
0%
UBS Douglas Harter 66% 1-year accuracy 21 / 32 met price target | 2%downside $5.25 | Neutral Maintained | 17 Apr 2025 |
Piper Sandler Crispin Love 39% 1-year accuracy 13 / 33 met price target | 22%upside $6.50 | Overweight Maintained | 8 Apr 2025 |
Financial journalist opinion
Based on 6 articles about EARN published over the past 30 days
Positive
Seeking Alpha
1 week ago
Ellington Credit: A New Entrant To The CLO Sector
Ellington Credit has transitioned from a REIT to a RIC, focusing on CLOs. The fund's attractive valuation, low management fees, and strong track record make it a compelling investment despite portfolio uncertainty. EARN's flexibility in allocating across both CLO Equity/Debt and US/EU securities provides a significant advantage in the CLO CEF sector.
Neutral
Business Wire
2 weeks ago
Ellington Credit Declares Monthly Common Dividend
OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Credit Company (NYSE: EARN) ("we" or the "Fund") today announced that its Board of Trustees has declared a monthly common dividend of $0.08 per share, payable on May 27, 2025 to shareholders of record as of April 30, 2025. As previously announced, in connection with its recently completed conversion to a closed-end fund registered under the Investment Company Act of 1940, the Fund has implemented a Dividend Reinvestment Plan (the "DRP"). The DRP.
Neutral
Business Wire
2 weeks ago
Ellington Credit to Ring the Closing Bell at the New York Stock Exchange
OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Credit Company (NYSE: EARN) announced today that it will ring the closing bell at the New York Stock Exchange on April 2, 2025 to celebrate its conversion to a closed-end fund focused on corporate collateralized loan obligation (“CLO”) investments. The ringing of the closing bell will also commemorate the 30-year anniversary of Ellington Management Group, the parent company of EARN's investment adviser. About Ellington Credit Company Ellington Cr.
Neutral
Business Wire
2 weeks ago
Ellington Credit Completes Conversion to Closed-end Fund
OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Credit Company (NYSE: EARN) (the “Fund”) announced today the completion of its conversion to a Delaware-domiciled closed-end fund registered under the Investment Company Act of 1940 (the “Conversion”). In conjunction with the Conversion, the Fund intends to sell its remaining Agency MBS pools, acquire additional corporate collateralized loan obligations (“CLOs”), and operate as a Regulated Investment Company (“RIC”) under U.S. federal tax law. Th.
Positive
Seeking Alpha
3 weeks ago
Ellington Credit Is In Transition, And I'm Betting It Pays Off
Ellington Credit Company has shifted from a mortgage REIT to a closed-end fund focusing on high-yield CLOs, aiming for substantial gains. Despite potential high rewards, EARN's transition brings significant risks, with recent earnings volatility and a hefty debt load posing challenges. EARN's valuation appears attractive, trading at a discount with a low P/E ratio, suggesting potential upside if management successfully navigates the CLO market.
Neutral
Business Wire
4 weeks ago
Ellington Credit Confirms April 1 Conversion Date
OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Credit Company (NYSE: EARN) (the “Company”) announced today it has obtained all necessary approvals from its Board of Trustees and shareholders to convert to a Delaware-registered closed-end fund, effective April 1, 2025 (the “Conversion”). Upon effectiveness of the Conversion, the Company intends to sell its remaining Agency MBS pools, acquire additional CLOs, and operate in compliance with the Investment Company Act of 1940. Laurence Penn, Chie.
Neutral
Seeking Alpha
1 month ago
Ellington Credit Company (EARN) Q4 2024 Earnings Call Transcript
Ellington Credit Company (NYSE:EARN ) Q4 2024 Earnings Conference Call March 13, 2025 11:00 AM ET Company Participants Alaael-Deen Shilleh - Associate General Counsel and Secretary Laurence E. Penn - Chief Executive Officer and President Mark Tecotzky - Co-Chief Investment Officer Christopher Smernoff - Chief Financial Officer Gregory Borenstein - Head of Corporate Credit at Ellington Management Group Conference Call Participants Douglas Harter - UBS Matthew Erdner - JonesTrading Operator Good morning, ladies and gentlemen.
Neutral
Business Wire
1 month ago
Ellington Credit Company Reports Fourth Quarter 2024 Results
OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Credit Company (NYSE: EARN) ("we") today reported financial results for the quarter ended December 31, 2024. Fourth Quarter Highlights Net income (loss) of $(2.0) million, or $(0.07) per share. Adjusted Distributable Earnings1 of $7.8 million, or $0.27 per share. Book value of $6.53 per share as of December 31, 2024, which includes the effects of dividends of $0.24 per share for the quarter. Net interest margin2 of 8.54% on credit, 3.24% on Agenc.
Positive
Seeking Alpha
1 month ago
Dividend Power Dogs: 3 Top Dividend Picks For March
Three top Dividend Power stocks, Golden Ocean, Diversified Energy, and Saratoga Investment Corp, offer "safer" dividends with free cash-flow yields exceeding dividend yields. The Dividend Power strategy focuses on high earnings yield and top dividend yield stocks, creating a resilient portfolio for both downturns and bull markets. Analysts predict significant net gains (39.97% to 168.6%) for the top ten Dividend Power stocks by March 2026, with an average net gain of 77.96%.
Neutral
Business Wire
1 month ago
Ellington Credit Declares Monthly Common Dividend
OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Credit Company (NYSE: EARN) ("we") today announced that its Board of Trustees has declared a monthly common dividend of $0.08 per share, payable on April 25, 2025 to shareholders of record as of March 31, 2025. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking stat.
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