Ellington Residential Mortgage REIT

Ellington Residential Mortgage REIT is a real estate investment trust, which engages in the acquisition, investment, and management of residential mortgage and real estate-related assets. Its portfolio include non-agency and agency residential mortgage-backed securities and acquires other target assets, such as residential whole mortgage loans, commercial mortgage-backed securities, mortgage-related derivatives, and other asset-backed securities. The company was founded in August 2012 and is headquartered in Old Greenwich, CT.

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Earnings data Q3 2024

Earnings data Q4 2024

Ellington Residential Mortgage REIT reports strong Q4 performance and navigates interest rate risks effectively

EARN navigated Q4 2022 well with improved performance, effective risk management, and a focus on balancing financing costs and prepayment risks. Challenges include potential performance impact from higher coupon rates and the need to manage dividend coverage amidst market volatility.

Ellington Residential Mortgage REIT (EARN) reports resilient earnings amid market challenges

Ellington Residential Mortgage REIT (EARN) navigated a challenging market environment in Q1 2023, reporting positive earnings despite volatility. The company's strategic focus on portfolio construction and risk management contributed to its outperformance. EARN remains optimistic about future opportunities in Agency MBS and non-agency investments.

Ellington Residential Mortgage REIT reports solid Q2 performance and eyes growth opportunities amidst market challenges

Ellington Residential Mortgage REIT delivered solid financial performance in Q2 2023, supported by a focus on discount specified pools and dynamic hedging strategies.
Stable access to financing, strategic portfolio adjustments, and optimism about Agency MBS outlook position the REIT for future growth and value creation.
Challenges related to market volatility and interest rate fluctuations require proactive risk management and adaptation to changing market conditions.
Opportunities in non-Agency portfolios, improving housing affordability, and potential catalysts for mortgage leverage increase offer avenues for portfolio diversification and growth.

Ellington Residential Mortgage REIT reports Q3 challenges and growth opportunities

Ellington Residential Mortgage REIT (EARN) navigated challenges in Q3 2023 with resilience, reporting an increase in adjusted distributable earnings despite a net loss per share.
Maintaining a strong liquidity position and diversifying investments into corporate CLOs, EARN aims to capitalize on growth opportunities amidst market uncertainties.
While facing headwinds from market conditions, EARN's strategic moves and financial stability position it well to leverage emerging opportunities and manage risks effectively.

Ellington Residential Mortgage REIT (EARN) reports robust Q4 performance

Ellington Residential Mortgage REIT (EARN) demonstrated resilience and strong financial performance in Q4 2023 amidst market challenges, with strategic portfolio management and solid earnings.
While facing market volatility and interest rate fluctuations, EARN's prudent risk management, optimistic outlook, and growth opportunities position the company for continued success and value creation.
By navigating challenges, leveraging strengths, and seizing opportunities, EARN remains well-positioned to drive growth, optimize returns, and deliver value to its stakeholders.

Ellington REIT excels in CLO focus, anticipates smooth transition

Ellington Residential Mortgage REIT's strategic shift to focus on corporate CLOs has yielded positive results, with strong income generation and a growing CLO portfolio.
While challenges and uncertainties exist in the transition process, the company's prudent management of expenses and portfolio diversification are key strengths.
Opportunities for growth and enhanced returns through CLO investments and the new fund structure position Ellington Credit Company for future success.
Investors should monitor the progress of the transition and the impact on overall performance, considering the potential risks and rewards of the evolving investment strategy.

Ellington Residential Mortgage REIT shifts focus to CLO strategy

Ellington Residential Mortgage REIT showcased a strategic shift towards a CLO-focused closed-end fund, reporting a net loss of $0.04 per share in Q2 2024.
The company's emphasis on the outperformance of the CLO strategy, successful portfolio growth, and positive investor feedback highlights a promising trajectory.
Challenges include managing performance dispersion in CLO investments and interest rate volatility, with opportunities lying in portfolio optimization and potential dividend increases.
Overall, Ellington Residential Mortgage REIT's earnings call reflects a strategic transformation with strengths in CLO focus and investor confidence, amidst challenges and growth opportunities.

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Ellington Credit Co. is a real estate investment trust, which engages in the acquisition, investment, and management of residential mortgage and real estate-related assets. Its portfolio includes non-agency and agency residential mortgage-backed securities and acquires other target assets, such as residential whole mortgage loans, commercial mortgage-backed securities, mortgage-related derivatives, and other asset-backed securities. The company was founded on August 2, 2012 and is headquartered in Old Greenwich, CT.

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High Yield Carnage Begins

OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today announced its estimated book value per share of $8.56 as of February 28, 2023, which reflects a year-to-date total economic return of approximately 3.8% through February 28, 2023.

Ellington Residential Announces Estimated Book Value Per Share as of February 28, 2023

Ellington Residential Mortgage REIT (NYSE:EARN ) Q4 2022 Earnings Call Transcript March 7, 2023 11:00 AM ET Company Participants Larry Penn - Chief Executive Officer Chris Smernoff - Chief Financial Officer Mark Tecotzky - Co-Chief Investment Officer Conference Call Participants Eric Hagen - BTIG Crispin Love - Piper Sandler Mikhail Goberman - JMP Securities Jason Stewart - JonesTrading Operator Good morning, ladies and gentlemen. Thank you for standing by.

Ellington Residential Mortgage REIT (EARN) Q4 2022 Earnings Call Transcript

The following slide deck was published by Ellington Residential Mortgage REIT in conjunction with their 2022 Q4 earnings call.

Ellington Residential Mortgage REIT 2022 Q4 - Results - Earnings Call Presentation

Ellington Residential (EARN) delivered earnings and revenue surprises of 25% and 114.91%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Ellington Residential (EARN) Beats Q4 Earnings and Revenue Estimates

OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today reported financial results for the quarter ended December 31, 2022. Highlights Net income of $11.7 million, or $0.88 per share. Adjusted Distributable Earnings1 ("ADE") of $3.3 million, or $0.25 per share. Book value of $8.40 per share as of December 31, 2022, which includes the effects of dividends of $0.24 per share for the quarter. Net interest margin2 of 1.37%.

Ellington Residential Mortgage REIT Reports Fourth Quarter 2022 Results

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16% Dividend Yield Slash Incoming

Big unsustainable yield at a premium valuation. This share isn't for investors, it's for suckers. The valuation is at historically high levels. People who keep holding onto shares are not investing.

Dump This Fat 16% Yield Before The Cut

OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today announced that it will release financial results for the quarter ended December 31, 2022 after market close on Monday, March 6, 2023. The Company will host a conference call to discuss its financial results at 11:00 a.m. Eastern Time on Tuesday, March 7, 2023. To participate in the event by telephone, please dial (800) 225-9448 at least 10 minutes prior to the start time and reference the conference code EARNQ422. International callers should dial (203) 518-9843 and reference the same code. The conference call will also be webcast live and can be accessed via the "For Our Shareholders" section of the Company's website at www.earnreit.com. To listen to the live webcast, please visit www.earnreit.com at least 15 minutes prior to the start of the call to register, download, and install necessary audio software.

Ellington Residential Mortgage REIT Announces Release Date of Fourth Quarter 2022 Earnings, Conference Call, and Investor Presentation

OLD GREENWICH, Conn.--( BUSINESS WIRE )--Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today announced that information regarding the federal income tax treatment of the distributions deemed paid in 2022 on the Company's common shares has been posted to the Company's website, at https://ir.earnreit.com/dividend-information.

Ellington Residential Mortgage REIT Announces the Income Tax Treatment of its 2022 Distributions

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OLD GREENWICH, Conn.--( BUSINESS WIRE )--Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today announced its estimated book value per share of $8.40 as of December 31, 2022.

Ellington Residential Announces Estimated Book Value Per Share as of December 31, 2022

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Dueling Dividends

Ellington Residential lost more than one-third of its book value this year. The trust's portfolio and net interest spread are under pressure from the central bank and a steepening yield curve.

Ellington Residential: Wait For A Drop Before Buying This 14% Yield

Dividend yields: 7.8% to 15%. Dramatic discounts to net asset value. Price to NAV range: .36 to .86.

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Ellington Residential Mortgage REIT (NYSE:EARN ) Q3 2022 Earnings Conference Call November 10, 2022 11:00 AM ET Company Participants Jason Frank - Deputy General Counsel and Secretary Laurence Penn - Chief Executive Officer, President and Trustee Christopher Smernoff - Chief Financial Officer Mark Tecotzky - Co-Chief Investment Officer Conference Call Participants Crispin Love - Piper Sandler Doug Harter - Credit Suisse Ethan Saghi - BTIG Mikhail Goberman - JMP Securities Operator Good morning, ladies and gentlemen. Thank you for standing by.

Ellington Residential Mortgage REIT (EARN) Q3 2022 Earnings Call Transcript

Ellington Residential (EARN) delivered earnings and revenue surprises of 0% and 5.25%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Ellington Residential (EARN) Matches Q3 Earnings Estimates

Ellington Residential Mortgage REIT's yield is over 15% now, and will be higher if the stock falls, giving you some protection to the downside. The Federal Reserve's super aggressive response to high inflation continues to drive markets, but it has resulted in extreme volatility in interest rates, which has weighed on real estate companies like Ellington.

Ellington Residential Mortgage REIT: Horrible Action But Continues To Pay Out

Ellington Residential Mortgage REIT Reports Third Quarter 2022 Results

Ellington Residential Mortgage REIT Announces Release Date of Third Quarter 2022 Earnings, Conference Call, and Investor Presentation

News for Ellington Residential Mortgage REIT Stock (EARN)