Ellington Financial

Moody’s has affirmed Ellington Financial’s Ba3 Corporate Family Rating and the B1 rating for its senior unsecured debt, and has changed the outlook for both to positive. The agency cites solid capitalisation, a diversified loan portfolio, a sophisticated hedging strategy and improved liquidity. Operational metrics improved: the average maturity of repo transactions increased, annualised net income relative to assets under management was 3.5%, and non-performing loans fell to 4.0%. Moody’s also notes risks from cyclical exposure to residential and commercial real estate, incomplete hedges and high dividend payouts. » Mere på de.investing.com

Ellington Financial reports an estimated book value per common share of $13.63 as of July 31. The estimate includes the announced monthly dividend of $0.13 per common share, which will be paid on August 31 to shareholders of record as of July 31. The company notes that the estimated book value may change materially after completion of valuation procedures and does not represent results for upcoming reporting periods. » Mere på de.investing.com

Ellington Credit reported an adjusted net investment income of $0.15 per share for Q2 (expectation $0.23) and revenue of $6.08 million versus projected $13.3 million. Net asset value rose to $4.18 per share and total net asset value to $159.7 million, while management said portfolio rotation into higher‑yielding CLO equity and mezzanine positions is driving future earnings. The monthly dividend remains $0.08; management expects adjusted net investment income to rise in coming quarters to the “low‑20s” annualized (approximately $0.20–$0.24). Despite the missed numbers, the stock ticked up and trades near its 52‑week low, with investors cautiously optimistic because of the rising NAV and high dividend yield. » Mere på de.investing.com