2024-03-18 07:30:42 ET
Summary
- Ellington Financial offers multiple income securities, including preferred shares and baby bonds.
- The company's net interest income fell due to increased interest expenses, but other income from market fluctuations helped offset this.
- Ellington Financial's balance sheet shows heavy investment in reverse mortgages and minimal impact from commercial and consumer loans.
Ellington Financial ( EFC ) is a mortgage REIT that invests in residential and commercial mortgages. The company also carries a portfolio of consumer loans. Over a year ago, I wrote about the attractive investment in Ellington’s Series A preferred shares ( EFC.PR.A ). Today, I’m suggesting that investors consider switching from the Series A shares to the Series E preferred shares ( EFC.PR.E )....
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Ellington Financial: Shifting From The A To E Preferred Shares