OLD GREENWICH, Conn., March 06, 2024–(BUSINESS WIRE)–Ellington Residential Mortgage REIT (NYSE: EARN) (“we”, “us,” or “our”) today reported financial results for the quarter ended December 31, 2023.
Highlights
Net income (loss) of $12.4 million, or $0.75 per share.
Adjusted Distributable Earnings1 of $4.6 million, or $0.27 per share.
Book value of $7.32 per share as of December 31, 2023, which includes the effects of dividends of $0.24 per share for the quarter.
Net interest margin2 of 2.02% on Agency, 6.28% on credit, and 2.19% overall.
Weighted average constant prepayment rate (“CPR”) for the fixed-rate Agency specified pool portfolio of 6.83.
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