Ellington Financial: Well Positioned For A Housing Market Recovery [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
Company Research
Source: Seeking Alpha
The company invests in residential and commercial mortgage loans, aiming to generate attractive risk-adjusted returns. The recovering housing market in 2024-2025 is expected to benefit Ellington Financial, improving asset quality and stimulating demand for new mortgages. Shares are a buy with price target of $15. Investment Thesis Despite the recent dividend cut to $0.13 cents a month and a slight book value decline from $ to $ , I believe Ellington Financial ( NYSE: EFC ) is still a buy as the real estate market is poised for a recovery , stimulating more demand for new mortgages that Ellington Financial can invest in. I think Ellington Financial is a solid mREIT and continues to offer attractive dividends at the current stock price. The dividend cut is well priced in at this point, giving new investors an attractive entry point. As mortgage rates start to decline in 2024, I think Ellington will benefit as the housing market improves, helping earnings to cover the dividends.
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EFC
News
- Ellington Financial Inc. Completes Non-QM Securitization [Yahoo! Finance]Yahoo! Finance
- Ellington Financial Inc. Completes Non-QM SecuritizationBusiness Wire
- Ellington Financial Announces Release Date of First Quarter 2024 Earnings, Conference Call, and Investor Presentation [Yahoo! Finance]Yahoo! Finance
- Ellington Financial Announces Estimated Book Value Per Common Share as of March 31, 2024Business Wire
- Ellington Financial Announces Release Date of First Quarter 2024 Earnings, Conference Call, and Investor PresentationBusiness Wire
EFC
Earnings
- 2/26/24 - Miss
EFC
Sec Filings
- 4/8/24 - Form 8-K
- 4/8/24 - Form ARS
- 4/5/24 - Form DEFA14A
- EFC's page on the SEC website