Ellington Credit
Invests primarily in CLO mezzanine debt and equity as an externally advised closed-end fund.
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Profile
Invests primarily in corporate CLO mezzanine debt and equity, seeking current yield and risk-adjusted total returns. The NYSE-listed vehicle is externally advised by an Ellington Management Group affiliate and is a registered closed-end fund.
Invests primarily in corporate CLO mezzanine debt and equity tranches, seeking current yield and risk-adjusted total returns. Its former residential-mortgage focus was replaced by its current structured-credit mandate. The strategy concentrates on mezzanine debt and equity positions in the CLO capital structure.
Its operating model is external-adviser based: an affiliate of Ellington Management Group provides investment advice, while personnel of affiliated entities may manage accounts with wholly or partly overlapping strategies.
The fund's conversion to its current legal form followed the strategic shift toward corporate CLOs. It is a non-diversified registered closed-end management investment company organized as a Delaware statutory trust.
Company facts
Categories
Key statistics
Year to date −16.1% · Average volume (30d) 418.0K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jul 13, 2026 | Piper Sandler | Reiterate | Overweight | $8 | $5 |
| Dec 23, 2025 | UBS | Target | $5.25 | $6 | |
| Oct 14, 2025 | UBS | Reiterate | Neutral | $5.25 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 12, 2026Q2 FY26 | $0.20 | $0.15 | −25.0% | $10.6M | $12.0M | +13.1% | +2.07% |
| May 19, 2026Q1 FY26 | $0.22 | $0.19 | −13.6% | $10.6M | $12.3M | +16.7% | +3.23% |
| Mar 4, 2026Q4 FY25 | $0.25 | $0.21 | −15.9% | $12.7M | $11.1M | −12.5% | +2.29% |
| Nov 19, 2025Q3 FY25 | $0.20 | $0.23 | +15.0% | $11.4M | $15.4M | +35.1% | +0.59% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $921.0K | $11.9M | $15.4M | $14.3M | $12.3M | $11.8M | |
| Gross profit | −$5.3M | $11.9M | $15.4M | $14.3M | $12.3M | $11.8M | |
| Operating income | −$7.9M | $11.9M | $6.2M | −$18.7M | −$27.7M | $15.3M | |
| Net income | −$7.9M | $10.2M | $4.3M | −$21.1M | −$32.3M | $12.3M | |
| Diluted EPS | −$0.23 | $0.29 | $0.12 | −$0.56 | −$0.86 | $0.33 | |
| Gross margin | -574.8% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | |
| Operating margin | -855.2% | 100.2% | 40.5% | -130.6% | -224.5% | 129.7% |
Fiscal years (4-quarter sums)FY21 $2.2M · FY22 −$10.3M · FY23 $31.5M · FY24 $50.7M · FY25 $42.6M
Balance sheet, Jun 30, 2026Cash & short-term investments $23.5M · Total debt $205.9M · Total assets $382.5M · Shareholders' equity $159.7M
Dividends
Raised for 4 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 31, 2026 | Jul 31 | Aug 31 | $0.08 | |
| Jun 30, 2026 | Jun 30 | Jul 31 | $0.08 | |
| May 29, 2026 | May 29 | Jun 30 | $0.08 | |
| Apr 30, 2026 | Apr 30 | May 29 | $0.08 | |
| Mar 31, 2026 | Mar 31 | Apr 30 | $0.08 | |
| Feb 27, 2026 | Feb 27 | Mar 31 | $0.08 | |
| Jan 30, 2026 | Jan 30 | Feb 27 | $0.08 | |
| Dec 31, 2025 | Dec 31 | Jan 30 | $0.08 |
Ownership
Shares outstanding 37.57M · Float 37.06M · 98.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Delphi Financial Group, Inc. | 608.7K | 1.62% | 13F | May 13, 2026 |
| Arrowstreet Capital, Limited Partnership | 251.7K | 0.67% | 13F | May 14, 2026 |
| Castlekeep Investment Advisors LLC | 179.9K | 0.48% | 13F | May 11, 2026 |
| Clear Harbor Asset Management, LLC | 173.2K | 0.46% | 13F | May 5, 2026 |
| Waverly Advisors, LLC | 167.3K | 0.45% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Oct 1, 2025 | Gregory Morris Borenstein | officer: Portfolio Manager | +3,000 | $5.29 |
| Sep 11, 2025 | Ronald I. Simon | director | +10,536 | $5.68 |
| Sep 5, 2025 | Gregory Morris Borenstein | officer: Portfolio Manager | +4,000 | $5.62 |
Peers
- Eagle Point Credit Company
Listed CLO equity and junior-debt fund with direct tranche overlap
- OFS Credit Company
Listed CLO equity-led fund that also allocates to CLO debt
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ellington Credit | $4.46 | +0.34% | $166.8M | — | 4.9 | 3.1 | +21.2% |
| Eagle Point Credit Company | $3.91 | 0.00% | $515.6M | — | 5.5 | 64.7 | −21.7% |
| OFS Credit Company | $2.73 | +0.45% | $79.6M | — | 2.8 | 2.3 | −83.3% |
| Median | — | 4.2 | 33.5 | −52.5% |