Ellington Financial (EFC) Declares $0.15 Dividend

Ellington Financial said on March 7, 2023 that its board of directors declared a regular monthly dividend of $0.15 per share ($1.80 annualized). Previously, the company paid $0.15 per share.

Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 25, 2023.

At the current share price of $12.39 / share, the stock's dividend yield is 14.53%. Looking back five years and taking a sample every week, the average dividend yield has been 10.50%, the lowest has been 7.15%, and the highest has been 39.39%. The standard deviation of yields is 3.62 (n=189).

The current dividend yield is 1.11 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is -1.71. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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Analyst Price Forecast Suggests 20.66% Upside

As of March 10, 2023, the average one-year price target for Ellington Financial is $14.95. The forecasts range from a low of $13.89 to a high of $16.28. The average price target represents an increase of 20.66% from its latest reported closing price of $12.39.

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The projected annual revenue for Ellington Financial is $153MM, an increase of 267.16%. The projected annual non-GAAP EPS is $1.88.

What is the Fund Sentiment?

There are 336 funds or institutions reporting positions in Ellington Financial. This is an increase of 6 owner(s) or 1.82% in the last quarter. Average portfolio weight of all funds dedicated to EFC is 0.15%, an increase of 1.55%. Total shares owned by institutions decreased in the last three months by 1.77% to 37,040K shares. The put/call ratio of EFC is 0.79, indicating a bullish outlook.

What are Large Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 4,263K shares representing 6.41% ownership of the company. In it's prior filing, the firm reported owning 4,164K shares, representing an increase of 2.32%. The firm increased its portfolio allocation in EFC by 1.33% over the last quarter.

Ranger Global Real Estate Advisors holds 2,278K shares representing 3.42% ownership of the company. In it's prior filing, the firm reported owning 2,601K shares, representing a decrease of 14.14%. The firm increased its portfolio allocation in EFC by 29.68% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,573K shares representing 2.36% ownership of the company. No change in the last quarter.

Mirae Asset Global Investments Co. holds 1,321K shares representing 1.99% ownership of the company. In it's prior filing, the firm reported owning 1,315K shares, representing an increase of 0.45%. The firm decreased its portfolio allocation in EFC by 42.23% over the last quarter.

IWM - iShares Russell 2000 ETF holds 1,315K shares representing 1.98% ownership of the company. In it's prior filing, the firm reported owning 1,238K shares, representing an increase of 5.84%. The firm increased its portfolio allocation in EFC by 4.64% over the last quarter.

Ellington Financial Background Information
(This description is provided by the company.)

Ellington Financial invests in a diverse array of financial assets, including residential and commercial mortgage loans, residential and commercial mortgage-backed securities, consumer loans and asset-backed securities backed by consumer loans, collateralized loan obligations, non-mortgage and mortgage-related derivatives, equity investments in loan origination companies, and other strategic investments. Ellington Financial is externally managed and advised by Ellington Financial Management LLC, an affiliate of Ellington Management Group, L.L.C.

This story originally appeared on Fintel.