Ellington Financial Inc. with ticker code (EFC) have now 8 analysts in total covering the stock. The consensus rating is pointing to ‘Buy’. The range between the high target price and low target price is between 15.5 and 13.75 and has a mean target at $14.47. Now with the previous closing price of $12.31 this would indicate that there is a potential upside of 17.5%. The day 50 moving average is $12.65 while the 200 day moving average is $13.63. The market capitalization for the company is $837m. You can visit the company’s website by visiting: https://www.ellingtonfinancial.com
The potential market cap would be $984m based on the market consensus.
Ellington Financial Inc., through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S. government agency or the U.S. government-sponsored entity; residential mortgage loans; commercial mortgage-backed securities; and commercial mortgage loans and other commercial real estate debt. It also provides collateralized loan obligations; mortgage-related and non-mortgage-related derivatives; corporate debt and equity securities; corporate loans; and other strategic investments. In addition, the company offers consumer loans and asset-backed securities backed by consumer and commercial assets. The company qualifies as a real estate investment trust (REIT) for federal income tax purposes. As a REIT, it intends to distribute at least 90% of its taxable income as dividends to shareholders. Ellington Financial LLC was incorporated in 2007 and is based in Old Greenwich, Connecticut.
The company has a dividend yield of 14.62% with the ex dividend date set at 30-3-2023 (DMY).
