2024-07-03 21:48:16 ET
Summary
- Ellington Credit Co. rebranded in April 2024, shifting focus from Mortgage-Backed Securities to Collateralized Debt Obligations.
- The company plans to maintain a $0.08 per share per month dividend, with a 5% discount to book value.
- Ellington Credit's transition to CLO investments may lead to less earnings volatility and a higher quality of earnings, making it a 'Buy' for passive income investors.
Ellington Credit Co. ( EARN ) , formerly known as Ellington Residential, rebranded to its present name in April 2024, as part of a broader business pivot away from Mortgage-Backed Securities and toward Collateralized Debt Obligation market which is where the company has some experience with....
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Ellington Credit: 14% Yield, Major Strategic Change, 4% BV Discount