8.6% Yield Not That Great From Ellington Financial [Seeking Alpha]
Ellington Financial Inc. (EFC)
Last ellington financial inc. earnings: 2/12 04:44 pm
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US:NYSE Investor Relations:
ir.ellingtonfinancial.com
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Source: Seeking Alpha
EFC-C's coupon rate of 8.625% resets in April 2028, but the yield to call at 8.7% is uncompetitive versus baby bonds and other preferreds offering 9%–10%. Baby bonds in the sector offer higher yields, lower risk, and less volatility, making EFC-C less attractive for risk-conscious investors. I maintain a "Neutral" rating on EFC-C, as downside risk is limited, but recommend reallocating to better-valued preferreds or baby bonds with higher yields. Looking for more investing ideas like this one? Get them exclusively at The REIT Forum. Learn More » Organic Media/E+ via Getty Images Ellington Financial ( EFC ) is a mortgage REIT that we cover. Today, I'd like to go over one of their preferred shares for readers. EFC-C ( EFC.PR.C ) Is A Very Interesting Share EFC-C is not a great investment choice. I would love to be able to put a bearish rating on it, but bearish ratings only really work on preferred shares if there is a strong case for the company to collapse. I do not see
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