Ellington Residential Mortgage REIT (EARN) Tops Q2 EPS by 4c

Ellington Residential Mortgage REIT (NYSE: EARN) reported Q2 EPS of $0.40, $0.04 better than the analyst estimate of $0.36.

Highlights

• Net income of $1.8 million, or $0.14 per share.
• Core Earnings1 of $5.1 million, or $0.40 per share, and Adjusted Core Earnings1 of $4.6 million, or $0.36 per share.
• Book value of $13.70 per share as of June 30, 2018, after giving effect to a second quarter dividend of $0.37 per share.
• Net interest margin of 1.28%, and adjusted net interest margin2 of 1.17%.
• Weighted average constant prepayment rate for the fixed-rate Agency specified pool portfolio of 8.2%.
• Dividend yield of 13.4% based on the August 1, 2018 closing stock price of $11.07.
• Debt-to-equity ratio of 8.8:1 as of June 30, 2018; adjusted for unsettled purchases and sales, the debt-to-equity ratio was 8.6:1.
• Net mortgage assets-to-equity ratio of 7.4:13 as of June 30, 2018.
• Repurchased 115,800 shares during the quarter, or approximately 1% of our outstanding shares as of the beginning of the quarter, at an average price of $11.01 per share.

For earnings history and earnings-related data on Ellington Residential Mortgage REIT (EARN) click here.

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