Ellington Residential Mortgage ( (EARN) ) has released its Q1 earnings. Here is a breakdown of the information Ellington Residential Mortgage presented to its investors.
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Ellington Credit Company is a non-diversified closed-end fund that primarily invests in collateralized loan obligations (CLOs), focusing on mezzanine debt and equity tranches, and is managed by an affiliate of Ellington Management Group, L.L.C. In its latest earnings report for the three-month period ended March 31, 2025, Ellington Credit Company reported a net loss of $7.9 million, or $0.23 per share, but achieved adjusted distributable earnings of $9.0 million, or $0.26 per share. The company’s book value per share was $6.08, and it declared a monthly dividend of $0.08 per share. Key financial metrics included a net interest margin of 11.13% on credit and a significant increase in the CLO portfolio to $249.9 million. The company also completed its conversion to a Delaware-domiciled closed-end fund focused on CLOs, which is expected to enhance its strategic positioning. Looking ahead, Ellington Credit Company is optimistic about its ability to capitalize on market opportunities, particularly with the expansion of its CLO portfolio, and aims to drive strong earnings and unlock shareholder value.