Ellington Financial

EFC

Market cap $1.56B

OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Financial Inc. (NYSE: EFC) ("we") today announced that its Board of Directors has declared a monthly dividend of $0.13 per share of common stock, payable on February 27, 2026 to stockholders of record as of January 30, 2026. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forwar.

Mortgage rates hit 2025 lows near 6.15%, improving housing demand and putting mREITs like EFC, NLY and NREF in focus.

The S&P 600 SmallCap index offers quality small-cap exposure, emphasizing companies with positive earnings and robust liquidity requirements. Nineteen of the thirty highest-yielding S&P 600 'safer' dividend stocks are attractively valued, with free cash flow supporting their dividends. Top ten S&P 600 small/mid-cap dividend stocks project average net gains of 42.25% by December 2026, with lower-than-market average risk.

While the improving mortgage market trend is likely to support the Zacks REIT and Equity Trust industry, companies like ARI, EFC and NREF are poised to gain.

OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Financial Inc. (NYSE: EFC) ("we") today announced an estimated book value per share of common stock of $13.17 as of November 30, 2025. This estimate includes the effect of the previously announced monthly dividend of $0.13 per share of common stock, to be paid on December 31, 2025 to holders of record on November 28, 2025, with the same ex-dividend date. Cautionary Statement Regarding Forward-Looking Statements Estimated book value per common sha.

Ellington Financial, Inc. (EFC) trades at a 2.2% premium to NAV, near record valuation, despite underwhelming long-term value creation. EFC's annual shareholder value creation since IPO is 4.49% of NAV per share, significantly lagging the S&P 500's 12.5%. Future value creation is expected around 4–5% of share price, driven by dividends but offset by declining NAV per share.

Falling mortgage rates and Fed cuts are improving mREIT outlooks, putting TWO, NREF and EFC in focus for 2026.

Ellington Financial benefits from rising net interest income, driven by loan growth and stable interest expense amid a lower rate environment. I favor EFC.PC (Series C preferred) for its 8.5% yield, no call until at least 2028, and strong income stability vs. other preferreds. Common shares offer high yield but suffer from persistent book value declines, making them less attractive for capital preservation.

Ellington Financial stands out as a conservative mortgage REIT with lower-than-average leverage and a strong underwriting track record. EFC maintains robust risk controls, including active interest rate hedging, an investment-grade Moody's rating, and over $1 billion in unencumbered assets. EFC common stock offers an 11.4% dividend, but signs of declining credit losses warrant caution.

Agency mortgage REITs duel to the dividend cut. There are 7 facing off. The top 3 are much better than the other 4. Valuations are important and awful. Deal with it.