Ellington Financial share price inline with book value

EFC's estimated book value of $23.65 per share as of February 28 slips from $24.45 at the end of January, but a dividend of $0.77 was paid. Book value was essentially stable after adding back the payout.

Friday's close of $24.14 puts the stock at 1.02x book. Mortgage REITs (EFC is actually a partnership) near or above book were a rare sight at the start of the year, but the species is making a comeback.

Yesterday: 3 mREITs lose Buy ratings for valuation reasons; trading above book value, Javelin Mortgage is punished after earnings


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