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Ellington Financial Inc. (1EL.F)

Frankfurt - Frankfurt Delayed Price. Currency in EUR
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11.50-0.10 (-0.86%)
At close: 09:55PM CEST
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  • R
    Rafal
    Why does it go down so much?
  • M
    MysteriousStranger
    So, anyone adding?
  • P
    Pappy
    Getting nervous
  • B
    Boot
    I've got to be wondering if there are clouds on the horizon for the REIT sector.
  • r
    rsp
    Significant drop in book value during August. Yield curve has become more favorable in September. As long as earnings can continue to cover the dividend, we should be all right.
  • D
    Dylan
    There is a very interesting Q 2 presentation to debt and preferred stockholders on their web site. To the limited extent that I understand it, I think that it is reassuring. It is definitely thorough.
  • D
    Dylan
    When they calculate "book value" (which is really a mark to market value) they show the loss in market value of their assets. Do they also include the gains in value of their hedges? If they do, is the conclusion that they are not really fully hedged?
  • Z
    ZV
    As stated by others, it's nice to see the Book Value stop it's decline (even if it was just by a dime). That made me look back at the last 8 months to see what the book value was compared to the stock price at the end of each month. I calculate that the Book Value has dropped 11.25% from 12-31-21 to 7-31-22, but the share price has dropped 6.09% during that same period. I realize that the share price has dropped more since the end of July, but I still take this as a slight positive that share price is holding up better than the book value (anyone else have a different view of this?)

    $16.32 July (Stock Price $16.05)
    $16.22 June (Stock Price $14.67)
    $16.94 May (Stock Price $15.49)
    $17.10 April (Stock Price $16.19)
    $17.74 March (Stock Price $17.75)
    $17.85 February (Stock Price $17.67)
    $18.17 January (Stock Price $17.77)
    $18.39 December (Stock Price $17.09)
  • r
    rsp
    A monthly increase in book value, a welcome relief after months of erosion.
  • r
    rsp
    Earnings not very stellar. Silver lining is management expects to be able to cover the dividend for the foreseeable future. That’s why I’m here - for the dividend. Will add more tomorrow if the stock tumbles.
  • Y
    Yocko
    Pay Day!!!
  • P
    Phil
    May not have been a great quarter, but I did like this line item:

    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.
  • r
    robert
    Why does EFC continually get punished compared ro AGNC and DX?
  • C
    Chief
    Book value of $16.22 is holding up reasonably well.

    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.
  • Y
    Yocko
    GAAP Day!
  • T
    TheGreenSteven
    First line in the highlighted earnings report shows a net loss of $1.08 yet Yahoo shows earnings of positive 41 cents.
  • p
    phil
    Not sure why EFC is getting beaten down today. Its not $2 below book and while I expect book to continue to drop. I don't see it going to under $15 at least for another year, if ever.
  • Y
    Yocko
    Declaration

    July 8, 2022

    Record

    July 29, 2022

    Payable

    Aug 25, 2022

    Amount

    $0.15
  • D
    David
    Just got into Ellington and will increase my holdings very similar to AGNC government backed securities and a steady dividend think this be a good one in my portfolio 😀
  • r
    rsp
    Management would not jump to a $0.14 monthly dividend if they did not firmly believe it is sustainable. Enjoy the 9.8% yield my fellow EFC shareholders!
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