Ellington Financial Stock (NYSE:EFC), Trade Ideas

Ellington Financial

Ellington Financial Inc is a specialty finance company. Its primary investment objective is to generate attractive, risk-adjusted total returns for its shareholders by making investments. The company has two reportable segments; The Investment Portfolio Segment is focused on investing in a diverse array of financial assets, including residential and commercial mortgage loans, residential mortgage-backed securities, non-mortgage- and mortgage-related derivatives, debt and equity investments in loan origination companies, and other strategic investments, and The Longbridge Segment is focused on the origination and servicing of reverse mortgage loans. it acquires reverse mortgage loans both through its origination activities and through secondary market purchases.

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Ellington Financial Inc

Ellington Financial Inc. 6.750% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Ellington Financial Inc. 6.250% Series B Fixed-Rate Reset Cumulative Redeemable Preferred Stock

Ellington Financial Inc. 8.625% Series C Fixed-Rate Reset Cumulative Redeemable Preferred Stock

Ellington Financial Inc. 7.00% Series D Cumulative Perpetual Redeemable Preferred Stock

Ellington Financial Inc. 8.250% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Analysts' ratings for Ellington Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>) over the last quarter vary from bullish to bearish, as provided by 4 analysts.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Ellington Financial and provided 12-month price targets. The average target is $13.94, accompanied by a high estimate of $14.50 and a low estimate of $13.25. This current average represents a 5.49% decrease from the previous average price target of $14.75. 
<img src="https://www.benzinga.com/files/images/story/2024/1713542466_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
The standing of Ellington Financial among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Trevor Cranston</td>
<td>JMP Securities</td>
<td>Maintains</td>
<td>Market Outperform</td>
<td>$14.50</td>
<td>-</td>
</tr>
<tr>
<td>Trevor Cranston</td>
<td>JMP Securities</td>
<td>Maintains</td>
<td>Market Outperform</td>
<td>$14.50</td>
<td>-</td>
</tr>
<tr>
<td>Eric Hagen</td>
<td>BTIG</td>
<td>Lowers</td>
<td>Buy</td>
<td>$13.50</td>
<td>$15.50</td>
</tr>
<tr>
<td>Bose George</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$13.25</td>
<td>$14.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Ellington Financial. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Ellington Financial compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Ellington Financial's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Capture valuable insights into Ellington Financial's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/EFC/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Ellington Financial analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>All You Need to Know About Ellington Financial</h2>
Ellington Financial Inc is a specialty finance company. Its primary investment objective is to generate attractive, risk-adjusted total returns for its shareholders by making investments. The company has two reportable segments; The Investment Portfolio Segment is focused on investing in a diverse array of financial assets, including residential and commercial mortgage loans, residential mortgage-backed securities, non-mortgage- and mortgage-related derivatives, debt and equity investments in loan origination companies, and other strategic investments, and The Longbridge Segment is focused on the origination and servicing of reverse mortgage loans. it acquires reverse mortgage loans both through its origination activities and through secondary market purchases.
<h3>Financial Insights: Ellington Financial</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Ellington Financial's revenue growth over a period of 3 months has been noteworthy. As of 31 December, 2023, the company achieved a revenue growth rate of approximately 18.78%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Ellington Financial's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 15.82%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 1.16%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 0.08%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 11.48, caution is advised due to increased financial risk.
<h2>Analyst Ratings: What Are They?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

What Analysts Are Saying About Ellington Financial Stock

JMP Securities analyst Trevor Cranston reiterates Ellington Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>) with a Market Outperform and maintains $14.5 price target.

Price Target

Reiteration

JMP Securities Reiterates Market Outperform on Ellington Financial, Maintains $14.5 Price Target

JonesTrading analyst Jason Weaver initiates coverage on Ellington Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>) with a Hold rating.

Initiation

JonesTrading Initiates Coverage On Ellington Financial with Hold Rating

BTIG analyst Eric Hagen maintains Ellington Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>) with a Buy and lowers the price target from $15.5 to $13.5.

BTIG Maintains Buy on Ellington Financial, Lowers Price Target to $13.5

Keefe, Bruyette &amp; Woods analyst Bose George maintains Ellington Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>) with a Outperform and lowers the price target from $14 to $13.25.

Keefe, Bruyette & Woods Maintains Outperform on Ellington Financial, Lowers Price Target to $13.25

Ellington Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>) reported quarterly earnings of $0.27 per share which missed the analyst consensus estimate of $0.40 by 32.5 percent. The company reported quarterly sales of $31.58 million which missed the analyst consensus estimate of $42.67 million by 26.00 percent. This is a 4.65 percent increase over sales of $30.17 million the same period last year.

Earnings

Earnings Misses

Ellington Financial Q4 2023 Adj EPS $0.27 Misses $0.40 Estimate, Sales $31.58M Miss $42.67M Estimate

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&bull; Unity Software (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) is likely to report quarterly loss at $0.42 per share on revenue of $564.02 million.
&bull; Everbridge (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVBG#NASDAQ">EVBG</a>) is projected to report quarterly earnings at $0.49 per share on revenue of $114.66 million.
&bull; MidCap Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MFIC#NASDAQ">MFIC</a>) is expected to report quarterly earnings at $0.43 per share on revenue of $67.63 million.
&bull; Zoom Video Comms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) is projected to report quarterly earnings at $1.15 per share on revenue of $1.13 billion.
&bull; Heidrick &amp; Struggles Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSII#NASDAQ">HSII</a>) is estimated to report quarterly earnings at $0.68 per share on revenue of $248.12 million.
&bull; SkyWater Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYT#NASDAQ">SKYT</a>) is projected to report quarterly loss at $0.12 per share on revenue of $74.84 million.
&bull; FS KKR Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSK#NYSE">FSK</a>) is estimated to report quarterly earnings at $0.75 per share on revenue of $453.28 million.
&bull; CrossAmerica Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAPL#NYSE">CAPL</a>) is expected to report quarterly earnings at $0.22 per share on revenue of $1.11 billion.
&bull; PubMatic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PUBM#NASDAQ">PUBM</a>) is projected to report quarterly earnings at $0.20 per share on revenue of $78.20 million.
&bull; MasterBrand (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MBC#NYSE">MBC</a>) is projected to report quarterly earnings at $0.27 per share on revenue of $666.70 million.
&bull; Albany Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIN#NYSE">AIN</a>) is expected to report quarterly earnings at $0.82 per share on revenue of $298.26 million.
&bull; New Mountain Finance (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NMFC#NASDAQ">NMFC</a>) is likely to report quarterly earnings at $0.40 per share on revenue of $93.28 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For February 26, 2024

Ellington Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>) is set to give its latest quarterly earnings report on Monday, 2024-02-26. Here's what investors need to know before the announcement.
Analysts estimate that Ellington Financial will report an earnings per share (EPS) of $0.40. 
Ellington Financial bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company missed EPS by $0.09, which was followed by a 1.65% drop in the share price the next day.
Here's a look at Ellington Financial's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.42</td>
<td>0.44</td>
<td>0.43</td>
<td>0.44</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.33</td>
<td>0.38</td>
<td>0.45</td>
<td>0.42</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.0%</td>
<td>-1.0%</td>
<td>0.0%</td>
<td>-3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1708711243_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Ellington Financial were trading at $12.09 as of February 22. Over the last 52-week period, shares are down 4.92%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/EFC/earnings">To track all earnings releases for Ellington Financial visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview For Ellington Financial

The most oversold stocks in the financial presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi"> RSI is below 30</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3>Ellington Financial Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/efc#NYSE">EFC</a>)</h3>
<ul>
<li>On Dec. 12, Arlington Asset Investment shareholders approved a merger with Ellington Financial Inc. The company&rsquo;s stock fell around 3% over the past month and has a <a href="https://www.benzinga.com/quote/EFC">52-week low of $10.82 </a>.</li>
<li>RSI Value: 29.54</li>
<li>EFC Price Action: Shares of Ellington Financial gained 0.2% to close at $12.72 on Thursday.</li>
</ul>
<h3>Hywin Holdings Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hyw#NASDAQ">HYW</a>)</h3>
<ul>
<li>On Dec. 1, Hywin Holdings said it formed strategic partnership agreement with Tencent Cloud for digital transformation. The company&rsquo;s stock fell around 77% over the past month. It <a href="https://www.benzinga.com/quote/HYW"> has a 52-week low </a> of $1.2620.</li>
<li>RSI Value: 6.13</li>
<li>HYW Price Action: Shares of Hywin Holdings fell 4.3% to close at $1.3401 on Thursday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/24/01/36606903/flexsteel-industries-posts-strong-preliminary-results-joins-wipro-sify-technologies-and-other-big-st"> Flexsteel Industries Posts Strong Preliminary Results, Joins Wipro, Sify Technologies And Other Big Stocks Moving Higher In Friday&#39;s Pre-Market Session </a>

On December 26, 2023, Arlington (or Merger Sub as its successor following the anticipated closing of the Merger) intends to file a Form 25 with the U.S. Securities and Exchange Commission (the "SEC"), and it is expected that the last day of trading of the Senior Notes on the NYSE will be Friday, January 5, 2024. Arlington has not made arrangements for the listing and/or registration of the Senior Notes on another national securities exchange or for quotation on another medium.

Arlington Asset Investment Announced Today, In Connection With The Anticipated Merger Transaction With Ellington Financial, That It Intends To Voluntarily Delist From The New York Stock Exchange

Arlington Asset Investment Corp. (NYSE:<a href="https://www.benzinga.com/stock/AAIC#NYSE">AAIC</a>) ("Arlington")&nbsp;announced today that its shareholders have voted to approve the proposed merger transaction with Ellington Financial Inc. (NYSE:<a href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>) ("Ellington Financial") at a special meeting of shareholders of Arlington held today.
Approximately 98.2% of the votes cast at the special meeting – which is approximately 62.8% of the issued and outstanding shares of Arlington Class A common stock (the "Arlington Common Stock") entitled to vote at the special meeting -- voted to approve the terms of the previously announced Agreement and Plan of Merger, dated as of May 29, 2023 (the "Merger Agreement"), by and among Ellington Financial, EF Merger Sub Inc., a wholly owned subsidiary of Ellington Financial ("Merger Sub"), Arlington and, solely for the limited purposes set forth therein, Ellington Financial Management LLC ("EFC Manager"), which, among other things, provides for the merger of Arlington with and into Merger Sub, with Merger Sub continuing as the surviving corporation and a subsidiary of Ellington Financial (the "Merger").
If the Merger is completed, and upon the satisfaction of the conditions set forth in the Merger Agreement, each issued and outstanding share of Arlington Common Stock will be converted into the right to receive: (i) from Ellington Financial, 0.3619 shares of Ellington Financial common stock and (ii) from EFC Manager, cash consideration of $0.09 per share. Ellington Financial will pay cash in lieu of any fractional shares of Ellington Financial common stock that would otherwise have been received as a result of the Merger.
In addition, as a result of the Merger, (i) each outstanding share of Arlington 7.00% Series B Cumulative Perpetual Redeemable Preferred Stock will be converted into the right to receive one share of newly-designated Ellington Financial 7.00% Series D Cumulative Perpetual Redeemable Preferred Stock and (ii) each outstanding share of Arlington 8.250% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock will be converted into the right to receive one share of newly-designated Ellington Financial 8.250% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock.
The Merger is expected to close on December 14, 2023, subject to the satisfaction of the remaining closing conditions set forth in the Merger Agreement and discussed in detail in the proxy statement/prospectus filed with the U.S. Securities and Exchange Commission on November 3, 2023.

Arlington Asset Investment Corp. Shareholders Approve Merger With Ellington Financial Inc.

When analysts initiate coverage on a stock, it means they will begin to provide research on it and make investment recommendations for it for the first time. It typically leads to an increase in trading volume and interest among investors. It can help shares of those stocks to move higher.
Typically, analysts initiate coverage on two or three similar stocks at a time. But consider this somewhat unusual scenario where a single analyst initiated coverage on eight different mortgage real estate investment trusts (mREITs) on the same morning:
On Dec. 6, UBS analyst Douglas Harter initiated coverage with a Neutral rating on the following mREITs and announced price targets for each (year-to-date return included):
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>NAME OF REIT</td>
<td>SYMBOL</td>
<td>PRICE TARGET</td>
<td>Y-T-D RETURN</td>
</tr>
<tr>
<td>Apollo Commercial Real Estate Finance Inc.</td>
<td>ARI</td>
<td>$10.50</td>
<td>11.58%</td>
</tr>
<tr>
<td>ARMOUR Residential REIT Inc.</td>
<td>ARR</td>
<td>$18.50</td>
<td>(18.89%)</td>
</tr>
<tr>
<td>Blackstone Mortgage Trust Inc.</td>
<td>BXMT</td>
<td>$23.50</td>
<td>13.47%</td>
</tr>
<tr>
<td>Chimera Investment Corp.</td>
<td>CIM</td>
<td>$5.50</td>
<td>(1.36%)</td>
</tr>
<tr>
<td>Ellington Financial Inc.</td>
<td>EFC</td>
<td>$13.50</td>
<td>15.35%&nbsp;</td>
</tr>
<tr>
<td>Invesco Mortgage Capital Inc.</td>
<td>IVR</td>
<td>$8</td>
<td>(23.02%)</td>
</tr>
<tr>
<td>MFA Financial Inc.</td>
<td>MFA</td>
<td>$12</td>
<td>18.21%</td>
</tr>
<tr>
<td>Starwood Property Trust Inc.</td>
<td>STWD</td>
<td>$21</td>
<td>18.36%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data source: <a href="https://pro.benzinga.com/register/?utm_source=yahoo_finance">Benzinga Pro</a></figcaption></figure>
The performance of different mREITs varies even though they're in the same subsector. Investors in MFA Financial are a lot happier this year than those holding shares of Invesco Mortgage Capital.
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Collecting passive income from real estate just got a whole lot simpler. A new<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> real estate fund backed by Jeff Bezos</a> gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.</li>
<li>Passive income investments are one of the most trusted methods for riding out a recession, so it's no surprise that people are turning to <a href="https://www.benzinga.com/real-estate/23/05/32554601/want-to-grow-your-wealth-passively-these-high-yield-real-estate-notes-might-be-your-holy-grail">high-yield real estate notes that pay a fixed 7.5% to 9%.</a></li>
</ul>
Despite performance variations, the analyst rated all eight as Neutral, most likely pending further research and assessments of each. Yet three of these mREITs stand out from the pack this year in total returns:
Starwood Property Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STWD#NYSE">STWD</a>) is a Greenwich, Connecticut-based mREIT that acquires, finances and manages first mortgages, mezzanine loans and other types of loans for commercial and residential real estate. Starwood Property Trust operates throughout the U.S., Europe and Australia.
On Nov. 8, Starwood Property Trust reported its third-quarter operating results. Adjusted earnings per share (EPS) of $0.49 beat the estimate of $0.47 but was below EPS of $0.51 in the third quarter of 2022. Revenue of $521.55 million missed the estimate of $523.77 million but was a 33.54% increase over revenue of $390.54 in the third quarter of 2022.
Starwood's 18.36% represents the highest year-to-date total return among the eight mREITs covered by the analyst.
MFA Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFA#NYSE">MFA</a>) is a New York-based mREIT that invests in residential mortgage-backed securities (MBS) and residential whole loans. In April 2023, Mfa celebrated its 25th anniversary on the New York Stock Exchange.
In September, MFA Financial announced the appointment of Michael Roper as chief financial officer, succeeding Stephen Yarad.&nbsp;&nbsp;&nbsp;
On Nov. 7, MFA Financial reported its third-quarter operating results. Non-generally accepted accounting principles (GAAP) earnings per share of $0.40 beat the estimates of $0.38. Revenue of $46.14 million beat the estimates of $44.86 million but was lower than third-quarter 2022 revenue of $52.29 million.
On Nov. 21, Raymond James analyst Stephen Lewis maintained MFA Financial with an Outperform rating while lowering the price target slightly from $13 to $12.50. MFA's recent closing price was $10.50.
The quarterly dividend of $0.35 imparts an annual dividend of $1.40, which presently yields 12.77%. The question is whether the dividend is sustainable, given that the payout ratio is a risky 95.8%. Still, that has not put a damper on its year-to-date performance of 18.21%.
Ellington Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>) is an Old Greenwich, Connecticut-based mREIT that invests in diverse financial assets, including residential and commercial mortgage loans, residential and commercial mortgage-backed securities, consumer loans, collateralized loan obligations, nonmortgage and mortgage-related derivatives and other strategic debt and equity investments.&nbsp;
Ellington Financial takes on certain risks that other mREITs won't, but only if it feels the return adequately compensates for that risk. For example, loans are often made to underserved niche market segments that cannot procure loans elsewhere. 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.&nbsp;
One risk Ellington Financial took this year was to actively pursue the acquisition of other mREITs. In May, Ellington announced it was merging with Arlington Asset Investment Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAIC#NYSE">AAIC</a>), and on July 3, it announced it also is acquiring Great Ajax Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJX#NYSE">AJX</a>). The Arlington acquisition is pending a vote by shareholders on Dec. 12, but in October the Great Ajax acquisition was terminated by the mutual agreement of both company boards. The termination of the Ajax deal helped Ellington Financial's share price rebound by 21% since touching a low on Oct. 25.
The recent price rise is interesting, considering that on Nov. 7, Ellington's third-quarter operating results were disappointing. Earnings per share of $0.33 were 21.43% below the estimates of $0.42 per share and even further below its third-quarter 2022 EPS of $0.44 per share. Revenue of $27.51 million was 46.59% below estimates of $51.51 million and third-quarter 2022 revenue of $36.51 million. Wall Street is more concerned with the Federal Reserve's moves right now than with the earnings reports of mREITs.
Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it's too late. Benzinga's in-house real estate research team has been working hard to identify the greatest opportunities in today's market, which you can gain access to for free by signing up for the <a href="https://www.benzinga.com/money/reit-newsletter">Weekly REIT Report.</a>
<h2 class="wp-block-heading">Read Next:</h2>
<ul>
<li>This REIT just teamed up with the company that built Elon Musk's tiny house to develop affordable housing communities. <a href="https://www.benzinga.com/alternative-investments/listing/future-of-housing-fund">Here's how you can be among the first to buy shares.</a></li>
<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/3-high-yield-investments-boost-income">Here are 3 high-yield investments to add significant income to your portfolio</a>.</li>
<li>The 60/40 strategy isn't going to cut it any longer, which is why major firms like Blackrock are adding <a href="https://www.benzinga.com/money/60-40-demise">these assets to their portfolios to boost returns.</a></li>
</ul>

UBS analyst Douglas Harter initiates coverage on Ellington Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>) with a Neutral rating and announces Price Target of $13.5.

UBS Initiates Coverage On Ellington Financial with Neutral Rating, Announces Price Target of $13.5

Wednesday marks the last chance for investors to receive the next dividend payout from Ellington Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>). 
<h3>What's Happening</h3>
The company announced on Wednesday that it would pay shareholders a monthly dividend of 6 cents per share. On Thursday, Ellington Financial will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 6 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Thursday. Shareholders who own EFC as of the end of Wednesday's session are eligible to receive the 6 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on December 13, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
To read more news on Ellington Financial <a href="https://www.benzinga.com/stock//">click here</a>
<a href="https://www.benzinga.com/calendars/dividends">Click here</a> to visit our Dividends Calendar.

Dividends

Ellington Financial's Ex-Dividend Date Is Thursday, Here's What You Need To Know

On CNBC&rsquo;s &quot;Mad Money Lightning Round,&quot; Jim Cramer said he likes Trane Technologies plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tt#NYSE">TT</a>) so much. &quot;I still like it, <a href="https://www.benzinga.com/news/earnings/23/11/35537452/thermo-king-maker-trane-technologies-shares-are-surging-heres-why"> even up here,&quot; he noted.</a>
Trane&rsquo;s shares have surged around 32% over the past six months.
&quot;I like these guys,&quot; Cramer said when asked about Palantir Technologies Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pltr#NYSE">PLTR</a>).
When asked about Walmart Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmt#NYSE">WMT</a>), he said, &quot;Man, that stock goes down every day. You know why? Because it used to go up every day. I think this is a good level to start buying Walmart.&quot; He added that Costco Wholesale Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cost#NASDAQ">COST</a>) is better.
Cramer said ImmunityBio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ibrx#NASDAQ">IBRX</a>) is losing a lot of money. &quot;It&rsquo;s a company that if they don&rsquo;t get the approval that you want, it could be dangerous. As long as you accept the risk, then I&rsquo;m fine, but it&rsquo;s a very risky stock,&quot; he noted.
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
The &quot;Mad Money&quot; host said he doesn&rsquo;t know what Ellington Financial (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/efc#NYSE">EFC</a>) owns. &quot;I&rsquo;m going to have to be a little more circumspect than you are,&quot; he added.
Cramer said he likes Air Lease Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/al#NYSE">AL</a>). &quot;But I got to tell you, if you like Air Lease, you&rsquo;re going to love The Boeing Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>),&quot; he added.
Price Action: Shares of Boeing gained 1% to close at $233.87, while Air Lease rose 2.3% to $39.68 on Friday. Ellington Financial gained 0.9% to $13.12, while ImmunityBio rose 2.7% to $3.78 during Friday&rsquo;s session. Costco gained 0.6% to $596.25, while Walmart shares fell 0.9% to settle at $154.34. Palantir shares rose 1.1%, while Trane Technologies rose 0.9% on Friday.
Now Read This: <a href="https://www.benzinga.com/news/earnings/23/12/36063396/investor-sentiment-increases-as-s-p-500-reaches-2023-record"> Investor Sentiment Increases As S&amp;P 500 Reaches 2023 Record </a>

Jim Cramer Likes This Industrial Stock 'Even Up Here,' As For ImmunityBio? 'It's Risky'

Ellington Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>) reported quarterly earnings of $0.33 per share which missed the analyst consensus estimate of $0.42 by 21.43 percent. This is a 25 percent decrease over earnings of $0.44 per share from the same period last year. The company reported quarterly sales of $27.51 million which missed the analyst consensus estimate of $51.51 million by 46.59 percent. This is a 24.64 percent decrease over sales of $36.51 million the same period last year.

Ellington Financial Q3 Adj EPS $0.33 Misses $0.42 Estimate, Sales $27.51M Miss $51.51M Estimate

Ellington Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>) is set to give its latest quarterly earnings report on Tuesday, 2023-11-07. Here's what investors need to know before the announcement.
Analysts estimate that Ellington Financial will report an earnings per share (EPS) of $0.42. 
Ellington Financial bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company missed EPS by $0.06, which was followed by a 0.52% drop in the share price the next day.
Here's a look at Ellington Financial's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.44</td>
<td>0.43</td>
<td>0.44</td>
<td>0.42</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.38</td>
<td>0.45</td>
<td>0.42</td>
<td>0.44</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-0.52%</td>
<td>0.08%</td>
<td>-2.7%</td>
<td>1.79%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2023/1699290049_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Ellington Financial were trading at $12.8 as of November 03. Over the last 52-week period, shares are down 6.6%. Given that these returns are generally negative, long-term shareholders are likely unhappy going into this earnings release. 
<a href="https://www.benzinga.com/quote/EFC/earnings">To track all earnings releases for Ellington Financial visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For Ellington Financial

The termination was approved by both companies' boards of directors after careful consideration of the proposed merger and the progress made towards completing the proposed merger. In addition, Ellington Financial has agreed to pay Great Ajax $16 million of which $5 million is payable in cash and $11 million was paid as consideration for 1,666,666 shares of Great Ajax common stock, which were purchased at a per share price of $6.60. Ellington Financial will now hold approximately 6.1% of Great Ajax's stock. In addition, an affiliate of the external manager of Ellington Financial owned 273,983 shares of Great Ajax common stock as of June 30, 2023. Ellington Financial remains a securitization joint venture partner as well. The two companies intend to continue to work together on mortgage loan opportunities.

Ellington Financial And Great Ajax Corp. Announce Mutual Termination Of Merger Agreement; Ellington Financial Agreed To Pay Great Ajax $16M With $5M Payable In Cash And $11M Paid As Consideration For 1,666,666 Shares Of Stock Purchased At $6.60/Share

B. Riley Securities analyst Matt Howlett initiates coverage on Ellington Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>) with a Buy rating and announces Price Target of $15.

B. Riley Securities Initiates Coverage On Ellington Financial with Buy Rating, Announces Price Target of $15

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Investors looking for dividend-paying stocks can consider Star Bulk Carriers (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBLK#NASDAQ">SBLK</a>) and Ellington Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>). Both of these stocks...