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Ellington Financial LLC

5/25/2013, 1:39 PM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
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Friday, May 24, 7:34 AM Ellington Management hires Steven Abreu from GMAC Mortgage as the MBS specialist (EFC, EARN) founded by Mike Vranos gets into the mortgage origination business. Ellington Financial (EFC) will wade into the market with the purchase of small or medium-sized originators says CFO Larry Penn, but the goal, says Vranos, is to build a top-tier national lender with $20B/year or more in originations. 1 Comment [Financials]
Thursday, May 9, 8:26 AM Ellington Financial (EFC) announces pricing of its 5M share secondary for estimated gross proceeds of $131.5M. It suggests a price of $26.30, which was the closing price in yesterday's regular session. Shares -3.5% to $25.39 in the premarket may give a better idea of where the secondary priced. Book value as of April 30 was $25.02. (PR) Comment! [Financials, Breaking News, On the Move]
Wednesday, May 8, 4:54 PM Ellington Financial (EFC) announces a 5M share secondary which will add about 25% to the current float. Shares were off 1.3% to $26.30 in regular session today as traders maybe sold ahead of the move given last night's announced book value of $25.03. The stock's off 3.2% AH to $25.45. (PR) Comment! [Financials, Breaking News]
Tuesday, May 7, 5:00 PM Ellington Financial (EFC) reports estimated book value/share on April 30 of $25.02. The stock - which closed today up 2.5% (post-earnings) at $26.60 - is now at a 6.3% premium to book. (PR) Comment! [Financials, Breaking News]
Tuesday, May 7, 11:26 AM Ellington Financial (EFC +1%) is considering entering the loan origination market, says management on the earnings call. The company sees traditional lenders as fighting the last war and still too reluctant to make loans given improving housing prices and employment. (earnings last night) (presentation slides) Comment! [Financials]
Monday, May 6, 8:50 PM Ellington Financial (EFC): Q1 EPS of $1.94 vs. $1.19 in Q4. Book value/share of $24.78, up 1.6% from Q4, up 4.7% if the $0.75 special dividend is factored back in. With stock at $25.95, the days of Ellington trading below book are over for the moment. Non-agency MBS strategy generated $2.17/share in gross income. Agency strategy generated $0.04 of gross income. Attractive valuations had Ellington establishing small capital allocation to CLO market in Q1. "The company views investments in this area as opportunistic in nature." Conference call tomorrow at 11 ET. (PR) Comment! [Financials, Earnings]
Friday, May 3, 9:04 AM Ellington Financial (EFC) declares $0.77/share quarterly dividend, in line with previous. Forward yield 11.87%. For shareholders of record May 31. Payable June 17. Ex-div date May 29. (PR) Comment! [Dividends]
Thursday, May 2, 9:23 PM Ellington Financial (EFC) declares $0.77/share quarterly dividend, in line with previous. Forward yield 11.9%. For shareholders of record May 31. Payable June 17. (PR) Comment! [Dividends]
Wednesday, May 1, 10:26 AM Ellington Residential Mortgage REIT (EARN -4.1%) slides in early trade after pricing its IPO at $20/share. Total gross proceeds of the offering are $129M. The company is run by the same team in charge of Ellington Financial (EFC), but structured as a REIT instead of EFC's partnership. Comment! [Financials, On the Move]
Monday, April 8, 10:28 AM Ellington Financial (EFC +0.9%) reports estimated book value of $24.74/share as of March 31, up from $24.52 a month earlier. Value-seeking investors used to picking up Ellington for below book value don't have that opportunity at the moment with the stock at $24.79. (PR) Comment! [Financials]
Tuesday, April 2, 7:12 AM Ellington Residential Mortgage - a mortgage REIT investing in both agency and non-agency MBS - files for an IPO of up to $100M. The ticker symbol will be EARN. The company is a JV between Blackstone and Ellington Financial (EFC) - itself an investor in similar securities, but in a partnership structure. (S-11) Comment! [Financials]
Friday, March 8, 7:03 AM Ellington Financial (EFC) reports estimated book value of $24.52/share on Feb. 28. This is down from $25.69 at the end of January, but the company paid out $1.52 in dividends during the period. The stock price is $24.90, putting the shares at a premium to book for the first time in recent memory. (PR) 1 Comment [Financials]
Thursday, February 14, 11:40 AM One year ago, housing was the place to be, says Ellington Financial (EFC) management on the earnings call. Housing should still do fine in 2013, but MBS securities are already priced to reflect this. The company has pared back the non-agency paper which brought such great profit in 2012, and has upped holdings of recently-slumped agency securities. Also likely to get more firm capital in 2013 are CMBS. (presentation) Comment! [Financials]
Wednesday, February 13, 5:30 PM More on Ellington Financial (EFC) Q4 earnings: Non-agency strategy gross income of $1.56/share. "In light of the significant rally," company is lightening up on non-agency holdings. Company also trimmed CMBS holdings, but expects further opportunities in this sector - the firm made its first purchase of a non-performing commercial mortgage this quarter. Earnings call tomorrow at 11 ET is always worth a listen. (PR) Comment! [Earnings, Financials]
Wednesday, February 13, 5:22 PM Ellington Financial (EFC): Q4 EPS of $1.19. Book value/share of $24.38 after $0.70 Q4 dividend, up from $23.88 in Q3. (PR) Comment! [Breaking News, Earnings, Financials]
Tuesday, February 12, 7:51 PM Ellington Financial (EFC) declares a Q4 dividend of $0.77/share and a special dividend for FY2012 of $0.75. The regular dividend is a 10% bump from the previous payout. Kudos go to SA Pro author Thomas Lott who in mid-December highlighted this underfollowed partnership as an alternative investment idea for mREIT fans. Shares +3.5% AH. (PR) 2 Comments [Financials, On the Move]