ellington financial reit

Is Ellington Financial Inc (EFC) a Good Dividend Stock? | AAII At the close of the transaction, each Great Ajax common share will convert to 0.5308 shares of Ellington Financial stock. Except as required by law, neither Ellington Financial nor Great Ajax undertakes any obligation to update or revise any forward-looking statement in this communication, whether to reflect new information, future events, changes in assumptions or circumstances or otherwise. Upon completion of the transaction, Ellington Financials Chief Executive Officer and President, Laurence Penn, will continue to lead the combined company, and Ellington Financial executives Michael Vranos, Mark Tecotzky, and JR Herlihy will remain in their current roles. Have a tip? consistent drop in performance in the financial industry is associated with the harsh macroeconomic conditions that have persisted. We believe that this transaction will position us well to drive accretive earnings growth and provide strategic and financial benefits to our stockholders. Si no quieres que nosotros ni nuestros socios utilicemos cookies y datos personales para estos propsitos adicionales, haz clic en Rechazar todo. The Company acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets. For example, loans are often made to underserved niche market segments that cannot procure loans elsewhere. Is this happening to you frequently? has agreed to acquire Arlington Asset Investment. It has even contributed to some major banks collapse, which shows the matters severity. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Usually, the company that makes the acquisition immediately loses a few points, while the company that is acquired skyrockets because of the price premium it receives on the deal. Report here. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Non-generally accepted accounting practices (GAAP) earnings per share of negative $0.09 missed analyst estimates by $0.14, and revenue of $0.54 million was $6.3 million below the estimates. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials filed with the SEC regarding the proposed merger when they become available. Market Capitalization: Small-Cap Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Great Ajax purchases inferior-quality single-family mortgage loans and gets them to perform better, but that is a strategy that works best in an economic recovery, and if the U.S. goes into recession, that could be a long way off. Announce Definitive Merger Agreement. EFC - Ellington Financial Inc. - Yahoo Finance These are established companies that reliably pay dividends. Develop and improve features of our offerings. Compare . Currency in USD 13.38 +0.24 (+1.83%) At close: 04:00PM EDT 13.45 +0.07 (+0.52%) After hours: 07:52PM EDT Stock chart is not supported by. 499 Finance jobs in Penang, Malaysia (8 new) - LinkedIn Ellington Financial to acquire Arlington Investment to boost scale The closing stock prices for Ellington Financial and Arlington on May 26, 2023 imply an offer price of $4.77 per share, representing a 73% premium to Arlington's share price on Friday, and a 15% . Ellington Financial takes some risks other mREITs wont touch, but only if it feels the return adequately compensates for that risk. Thank you. This was a 73% premium to the closing price on May 26 for Arlington Asset Investment and a 15% discount to Arlingtons diluted tangible book value per share as of March 31. Strategically Compelling: Great Ajaxs strategic equity investment in Gregory Funding LLC, its affiliated servicer, is expected to unlock multiple synergies and operating efficiencies across Ellington Financials investment portfolio. Upon completion of the deal, expected in Q4 2023, Ellington Financial (EFC) is expected to have pro forma equity capital base of more than $1.5B. Ellington Financial Buys Two Mortgage REITs Within Two Months By rotating between and allocating among various sectors of the structured product markets and adjusting the extent to which it hedges, Ellington believes that it is able to capitalize on the disparities between these sectors as well as on overall trends in the marketplace, and therefore provide better and more consistent returns for its investors. I just started a small position at about $13 and may add to it if the price drops further. EFC Presentation to Debt and Preferred Equity Investors May 2023 (PDF), EFC First Quarter 2023 Earnings Conference Call Presentation (PDF). Investors may obtain a copy of the proxy statement/prospectus (when it becomes available) and other relevant documents filed by Ellington Financial and Great Ajax free of charge at the SECs website, www.sec.gov. Great Ajax stock rallies after Ellington Financial agrees to buy it at But it doesnt always work out that way. It also suspended its dividend at the end of 2019 and has not paid one since. The transaction is expected to close by the end of 2023, subject to approval by Great Ajaxs stockholders and other closing conditions set forth in the merger agreement. What 5 Analyst Ratings Have To Say About Ellington Financial Congratulations to Scott Kennedy and members of The REIT Forum that followed Scotts AAIC trades. Since December 15, 2010, Ellington Financial Inc has paid out quarterly dividends ranging from $0.40 to $1.31 per share. Management, Governance and Corporate Headquarters. Please. For more information on EMG, please visit. Ellington Financial Inc. EFC NYSE | REIT Notes The transaction was unanimously recommended by the Special Committee. Benzingas in-house real estate research team has been working hard to identify the greatest opportunities in todays market, which you can gain access to for free by signing up forBenzingas Weekly REIT Report. See here for a complete list of exchanges and delays. On May 30, Ellington Financial announced it was entering into a definitive merger agreement with Arlington Asset Investment Corp. (NYSE: AAIC), a McLean, Virginia-based mREIT that invests in mortgage-related assets and residential real estate. Arlington is a REIT that invests mostly in mortgage-related and other assets. REIT Sector: Mortgage, See EFC on Yahoo Finance The deal will likely close in the fourth quarter of 2023 as long as AAICs shareholders agree and other standard conditions are met. The best opportunities are found when looking where others won't. Symbol: EFC Home | Ellington Financial Inc. Investor Overview | Ellington Residential Mortgage REIT Analysts Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. "We are extremely excited about the opportunity to add a significant portfolio of strategic assets, including over $1 billion of highly creditworthy first-lien residential RPL and NPL investments at attractive prices, which complement our existing investment portfolio nicely and align with our expertise and existing management platform," stated Laurence Penn, Ellington Financials Chief Executive Officer. Its primary investment objective is to generate attractive, risk-adjusted total returns for its shareholders by making investments. Ellington Financial Announces $50 Million Common Stock Repurchase Program. Finally, I can get rid of my AAIC shares.. . Ellington Financial Announces REIT Conversion and Closing of Exchange REITNotes.com does not guarantee the accuracy, adequacy, availability, completeness, reliability, timeliness or veracity, of any information provided on our website, reports, emails or in any other information that is linked from REITNotes.com. You can buy AAIC for $4.20 right now.. hehe To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. We are extremely excited about the opportunity to add a significant portfolio of strategic assets, including over $1 billion of highly creditworthy first-lien residential RPL (reperforming loans) and NPL (nonperforming loans) investments at attractive prices, which complement our existing investment portfolio nicely and align with our expertise and existing management platform, Ellington Financial CEO Laurence Penn said of the purchase. Gear advertisements and other marketing efforts towards your interests. Mortgage REIT Ellington Financial (NYSE:EFC) has agreed to acquire Arlington Asset Investment (NYSE:AAIC), another mortgage REIT, in a deal that should increase scale and liquidity, the companies said Tuesday. info@ellingtonfinancial.com. A negative payout ratio means the company used existing cash to pay dividends, which I believe isnt a good sign. All information provided "as is" for informational purposes only. How can I request additional information from Ellington Financial? Its total return over the past five years is negative 38.33%. See Annual Balance Sheet | See Quarterly Balance Sheet, See Annual Income Statement | See Quarterly Income Statement, See Annual Cash Flow | See Quarterly Cash Flow. Companies withratings are not formally covered by a Morningstar analyst, but are We have elected to be taxed as a real estate investment trust ("REIT") under the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), effective January 1, 2019. Benzinga does not provide investment advice. Under terms of the agreement, Ellington (EFC) will issue 0.3619 share of EFC for each share of Arlington (AAIC) common stock held, or ~11.7M EFC shares in total. Wed like to share more about how we work and what drives our day-to-day business. EFC Presentation to Debt and Preferred Equity Investors May 2023 (PDF) . Well, the div has been steady and reliable, and I like to see they are making acquisitions, which I'm sure their calculations indicate will lead to a stronger company. One of the major reasons why is it so much interesting for many income investors. Ellington Financial is externally managed and advised by Ellington Financial Management LLC, an affiliate of Ellington Management Group, LLC. against its industry peers and the overall market. This article Ellington Financial Buys Two Mortgage REITs Within Two Months originally appeared on Benzinga.com. Ellington Financial (EFC) and Great Ajax Corp. (AJX) have announced that they have entered into a definitive merger agreement whereby Ellington Financial will acquire Great Ajax. About Ellington Financial Our Manager Team. This is a 73% increase over Arlingtons share price on May 26, 2023, and a 15% decrease from the adjusted tangible book value per share as of March 31, 2023. See score breakdown. Ellington Financials fiscal year is January 1 to December 31. Overview Key Ratios Trading Information Last Close 13.64 Sector Real Estate Industry REIT - Mortgage Investment Style Small Value Day Range 13.64 - 13.79 Year Range 10.81 - 16.38 Market Cap. About Ellington Financial | Ellington Financial Inc. on the Dividend tab. PARTICIPANTS IN SOLICITATION RELATING TO THE MERGER. Altria lost over $1 billion on Juul, and Cronos shares are down about 86% since Altrias purchase in December 2018. Despite the economic downturn, the corporation appears to be positioning itself for long-term growth and success through mergers and acquisitions. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Ellington Financial Announces REIT Conversion and Closing of Exchange View source version on businesswire.com: https://www.businesswire.com/news/home/20230703409077/en/, Ellington Financial Inc. Investor Relations(203) 409-3575info@ellingtonfinancial.com, Great Ajax Corp. Mary DoyleChief Financial Officermary.doyle@great-ajax.com 503-444-4224, https://www.businesswire.com/news/home/20230703409077/en/. Is this happening to you frequently? Ellington Financial Inc. is a real estate investment trust (REIT). Ellington Financial: The Best Mortgage 'REIT' At A Healthy Discount To REITRating is REITNotes' Real Estate Investment Trust industry-specific rating and ranking system. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. Ellington Financial Inc. (EFC) - Stock Analysis Over the past five years, Ellington Financial Inc's dividend yield has averaged 10.7% per year. When the deal is finalized, Ellington Financial stockholders will own about 85% of the combined companys stock, while Arlington stockholders will own about 15%. In my opinion, these synergies will steer the companys long-term growth, which should draw investors to this company. Entering text into the input field will update the search result below. In early June, they announced a monthly dividend payment of $0. Based on the closing price of EFC's common stock on May 26, the stimated pro forma market capitalization of the combined company would exceed $1.0B. Ellington Financial (NYSE:EFC), headquartered in Connecticut, manages mortgage-backed securities and other financial-related assets. Ellington Financial uses a risk-management infrastructure system to assess the risks involved in any deals it makes and charges higher interest rates to compensate for potential losses. When one of its loans goes into foreclosure, it takes back the property and either sells or rents it out. Please. Important Note: REITRating is not a predictor of a REITs future performance, it is an evaluation of its past results. Let us know if you want us to cover any specific tickers and we'll be sure to take a look! Verify your identity, personalize the content you receive, or create and administer your account. All quotes delayed a minimum of 15 minutes. Investors who own the acquiring company hope that the merger will create substantial earnings and revenue that will propel the stock higher down the road. Last update: 2023-07-07 12:57:46 PST REITRating Trend We pursue value across various types of mortgage-related, consumer-related, corporate-related, and other financial assets, through investments primarily in loans and securities. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Significant Increase to Scale: Estimated pro forma market capitalization in excess of $1 billion, which is expected to enhance liquidity for both Ellington Financial and Great Ajax shareholders. We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes. N/A is assigned if insufficient data is available for a particular analysis. Then on July 3, Ellington Financial announced it will acquire Great Ajax Corp. (NYSE: AJX) for $7.33 per share, a 19.5% premium to the $6.13 closing price of Great Ajax on June 30. Ellington Financial invests in a diverse array of financial assets, including residential and commercial mortgage loans, residential and commercial mortgage-backed securities, consumer loans and asset-backed securities backed by consumer loans, collateralized loan obligations, non-mortgage and mortgage-related derivatives, strategic debt and equity investments in loan origination companies, and other strategic investments. To report a factual error in this article. Its subsidiaries include EF Mortgage LLC, EF Securities LLC and EF CMO LLC. In the mREITs industry, acquisitions and mergers are key competitive tools. Transaction Increases Scale and Enhances Access to Securitization Markets , Synergistic Expansion Expected to Drive Earnings Accretion and Long-Term Growth . Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. Note: All prices have a 15 minute delay. Ellington Financial (EFC), the parent company of Longbridge Financial, announced this week that it has entered into a merger agreement with real estate investment trust (REIT) Great Ajax Corp., which primarily invests in residential mortgage loans.. The REITs score for each analysis is out of ten points, with ten being the best score and zero being the worst. If you have an ad-blocker enabled you may be blocked from proceeding. The Board of Directors of Great Ajax formed a Special Committee comprised of independent directors (the "Special Committee") to review the transaction and make a recommendation to the Board of Directors of Great Ajax. Our Quantitative Research team models direct competitors or comparable companies In the mREITs industry, acquisitions and mergers are key competitive tools. The industry leader for online information for tax, accounting and finance professionals. Ellington Financial is led by a board of directors and a seasoned team of officers, with extensive experience in the mortgage securities and loan businesses, including both buy side and sell side experience. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. Ellington Financial and Great Ajax Corp. Announce Definitive Merger By rotating between and allocating among various sectors of the structured product markets and adjusting the extent to which it hedges, Ellington believes that it is able to capitalize on the disparities between these sectors as well as on overall trends in the marketplace, and therefore provide better and more consistent returns for its investors. According to 5 analyst offering 12-month price targets in the last 3 months, Ellington Financial has an average price target of $13.8 with a high of $14.50 and a low of $13.50. A definitive proxy statement/prospectus will be sent to Great Ajaxs stockholders. Ellington Financial Inc. Reports Fourth Quarter 2022 Results. Take a look at one mortgage real estate investment trust (mREIT) that recently purchased two other mREITs over the past two months and whether it appears that investors should be optimistic about the purchases. Ellington Financial is a mortgage REIT that invests in a diverse array of financial assets, including residential and commercial mortgage loans, residential and commercial mortgage-backed securities, consumer loans and asset-backed securities backed by consumer loans, collateralized loan obligations, non-mortgage and mortgage-related derivatives. HQ: Old Greenwich, CT, United States In connection with the proposed merger, Ellington Financial intends to file a registration statement on Form S-4 with the SEC that includes a Great Ajax proxy statement and an Ellington Financial prospectus. Ellington Financial Inc., a real estate investment trust, is leveraging mergers and acquisitions for long-term growth, despite a 10.74% loss in shares over the past year. Their dividends are monthly not quarterly. Our Investment Strategy | Ellington Financial Inc. See here for a complete list of exchanges and delays. fair value, and uncertainty rating. Ellington Financial Inc. is a real estate investment trust (REIT). Home | Ellington Residential Mortgage REIT EFCs stock style is Small Value. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. As of July 5, 2023, EFCs relative dividend yield was 13.3%, which was higher than the median of 6.5% for the REITs - Specialized business. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. I have optimism regarding the companys long-term viability because, in my opinion, mergers and acquisitions are among the most significant sources of competitive advantage. The transaction has been unanimously approved by the Boards of Directors of Ellington Financial and Great Ajax. Since December 15, 2010, Ellington Financial Inc. has distributed monthly dividends to its stockholders. to compare the relationship between a stocks price and how it rewards stockholders through dividends. What is Ellington Financials fiscal year? By accessing REITNotes.com, you agree to our Terms and Service, Disclaimer, Privacy Policy, and Community Terms of Use. The merging transaction is projected to bring an improved scale of operations and enhanced access to financial markets. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day.
Oakland Soldiers 2029, Young Philanthropists Nyc, Sjcc Register For Classes, Remove Item From List Python By Value, Articles E