Ellington Financial ( (EFC) ) just unveiled an update.
Ellington Financial Inc. reported a net income of $16.2 million for Q3 2024, showcasing strong performance in its investment portfolio, particularly within non-QM and reverse mortgage loans. The company achieved adjusted distributable earnings of $34.5 million, maintaining a dividend yield of 13.1%. Despite some underperformance in other areas, Ellington’s strategic moves, such as leveraging its balance sheet and reducing high-cost debt, position it favorably for future growth.
For a thorough assessment of EFC stock, go to TipRanks’ Stock Analysis page.
