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OLD GREENWICH, Conn., July 18, 2022--(BUSINESS WIRE)--Ellington Financial Inc. (NYSE: EFC) (the "Company") today announced its estimated book value per share of common stock of $16.22 as of June 30, 2022. This estimate includes the effect of the previously announced monthly dividend of $0.15 per share of common stock, payable on July 25, 2022 to holders of record on June 30, 2022, with an ex-dividend date of June 29, 2022.
July 8, 2022
Record
July 29, 2022
Payable
Aug 25, 2022
Amount
$0.15
Issued 383,700 common shares under the ATM Program at an average price of $17.66. Repurchased 88,184 shares at an average price of $13.20 per share.
That isn't 'income', but they sold high on about 300k shares (+$2 compared to current share price or $600k above) and on about 80k shares, they netted almost $4.50 per share ($360k). Combine these two moves and it adds about $1million of value.
That said, book value dropped from $18.39 in the Feb report to $17.74 last quarter to $16.22 in this report, which is a meaningful drop. Of course, the share price already reflects much of this, having also dropped over $2 since February's report.
The core business appears OK, which is good news. But with the changes in interest rate, suspect there might be another quarter or so of mixed results before this returns to solid footing.
BUY BUY BUY
looking for reason to Add - HOLD - Reduce 'EFC' holdings
52-Week Price Change -24.71%
Company Reported GAAP EPS $-0.17
Payout Ratio (TTM) 112.50%
EPS Growth (TTM vs. Prior TTM) -62.00%
Return on Assets (TTM) 1.57%
Free Cash Flow (TTM) $75.06M
(common) Shares outstanding 60.05 MM
Number of shares has increased by 31.28% in one year.
Dividend Yield 12.44%
Earnings Yield = 8.93% (Earnings Per Share / Stock Price) * 100%
Analyst Forecast : The average price target for EFC is $18.71,
which is 29.30% higher than the current price.
The consensus rating is "Buy".
Book Value Per Share 21.55
Revenue Next Year 163.72M
Decreased by -0.93% from 165.25M