Ellington Residential reports Q2 distributable EPS 36, consensus 28c

Reports Q2 book value per share $6.9M. “During the second quarter we nearly doubled our CLO portfolio, and including investment activity through August 9th, that portfolio now stands at approximately $108 million. Despite some underperformance in the CLO equity sector, our CLO portfolio still generated positive net income for the quarter. Furthermore, thanks to the growth of that portfolio combined with the wide net interest margins on our CLOs, our CLO portfolio contributed significantly to our adjusted distributable earnings for the quarter, which again comfortably covered our dividend,” said Laurence Penn, Chief Executive Officer and President.