Ellington Financial
Invests in mortgage credit while Longbridge originates and services reverse mortgages.
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Profile
Runs a REIT portfolio of mortgage-related, consumer, corporate, and other financial assets, paired with Longbridge's reverse-mortgage origination and servicing platform. The business combines externally managed credit investing with operating exposure to HECM and proprietary reverse-mortgage markets.
Operates through an Investment Portfolio Segment that buys and manages residential and commercial mortgage loans, RMBS, CMBS, consumer loans and ABS, CLOs, mortgage servicing rights, derivatives, and strategic investments in loan originators. The portfolio is concentrated in U.S. mortgage and structured-credit assets, with a small Agency RMBS strategy inside the broader credit book.
Adds Longbridge as a consolidated reverse-mortgage platform. Longbridge originates, purchases, sells, services, and invests in HECM and proprietary reverse mortgage loans, giving the REIT an operating channel alongside its investment portfolio.
Depends on Ellington Financial Management and the wider Ellington platform for portfolio management, research, models, deal flow, risk tools, capital structuring, and hedging. The business is shaped by financing access, mortgage-credit spreads, securitization execution, REIT qualification, and FHA/HUD/Ginnie Mae reverse-mortgage rules.
Company facts
Categories
Key statistics
Year to date −0.8% · Average volume (30d) 1.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating |
|---|---|---|---|---|
| Jun 17, 2026 | BTIG | Downgrade | Buy | Neutral |
| Aug 13, 2025 | Jones Trading | Upgrade | Hold | Buy |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.46 | $0.60 | +30.8% | $114.6M | $123.1M | +7.5% | +3.50% |
| May 5, 2026Q1 FY26 | $0.42 | $0.55 | +31.0% | $114.1M | $171.3M | +50.1% | +3.51% |
| Feb 25, 2026Q4 FY25 | $0.46 | $0.47 | +2.2% | $101.8M | $78.2M | −23.1% | +0.48% |
| Nov 5, 2025Q3 FY25 | $0.44 | $0.53 | +20.5% | $132.1M | $76.6M | −42.0% | +0.80% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $72.3M | $86.3M | $123.0M | $147.4M | $228.8M | $174.9M | |
| Gross profit | $72.3M | $86.3M | $99.0M | $122.3M | $201.9M | $140.7M | |
| Operating income | $30.9M | $35.5M | $98.9M | $104.8M | $164.0M | $145.7M | |
| Net income | $38.7M | $50.0M | $36.6M | $21.6M | $105.3M | $58.6M | |
| Diluted EPS | $0.35 | $0.45 | $0.29 | $0.14 | $0.78 | $0.43 | |
| Gross margin | 100.0% | 100.0% | 80.5% | 83.0% | 88.2% | 80.5% | |
| Operating margin | 42.8% | 41.1% | 80.4% | 71.1% | 71.7% | 83.3% |
Fiscal years (4-quarter sums)FY21 $122.0M · FY22 $92.8M · FY23 $256.5M · FY24 $282.2M · FY25 $429.0M
Balance sheet, Jun 30, 2026Cash & short-term investments $247.5M · Total debt $18.49B · Total assets $21.03B · Shareholders' equity $1.97B
Dividends
Last cut to $0.13 from $0.15 in Mar 2024. 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 | $0.13 | |
| Jun 30, 2026 | Jun 30 | Jul 31 | $0.13 | |
| May 29, 2026 | May 29 | Jun 30 | $0.13 | |
| Apr 30, 2026 | Apr 30 | May 29 | $0.13 | |
| Mar 31, 2026 | Mar 31 | Apr 30 | $0.13 | |
| Feb 27, 2026 | Feb 27 | Mar 31 | $0.13 | |
| Jan 30, 2026 | Jan 30 | Feb 27 | $0.13 | |
| Dec 31, 2025 | Dec 31 | Jan 30 | $0.13 |
Ownership
Shares outstanding 125.39M · Float 122.49M · 97.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 20.88M | 16.65% | 13F | Aug 7, 2026 |
| Vanguard Capital Management | 6.28M | 5.00% | 13G | Jul 31, 2026 |
| State Street Corp | 4.95M | 3.95% | 13F | Aug 7, 2026 |
| Geode Capital Management, LLC | 3.18M | 2.54% | 13F | Aug 12, 2026 |
| Mirae Asset Global Etfs Holdings Ltd. | 2.25M | 1.79% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 11, 2025 | Ronald I. Simon | director | +5,544 | $13.56 |
Peers
- Rithm Capital
Broad mortgage-credit, MSR, and lending-platform overlap
- MFA Financial
Residential mortgage credit peer with whole-loan and Non-QM overlap
- Annaly Capital Management
Large mortgage REIT across Agency, residential credit, and MSRs
- Finance of America
Public reverse-mortgage peer for Longbridge's HECM and proprietary loans
- Chimera Investment
Hybrid residential credit REIT with loan, RMBS, and BPL overlap
- Redwood Trust
Housing-credit platform spanning mortgage banking and retained investments
- PennyMac Mortgage Investment Trust
Residential mortgage REIT with MSR, CRT, and production-channel overlap
- Starwood Property Trust
Commercial mortgage REIT overlap in bridge loans and CMBS/CRE debt
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ellington Financial | $13.62 | +0.37% | $1.70B | 8.3 | 7.0 | 2.5 | +184.1% |
| Rithm Capital | $10.09 | +0.05% | $5.63B | 16.8 | 4.5 | 1.0 | +205.4% |
| MFA Financial | $8.82 | −0.11% | $901.5M | 7.4 | 6.9 | 1.2 | −65.6% |
| Annaly Capital Management | $23.11 | +0.26% | $17.37B | 5.8 | 7.4 | 2.4 | −50.1% |
| Finance of America | $18.03 | +0.06% | $161.1M | — | 3.6 | 0.1 | −64.8% |
| Chimera Investment | $11.50 | −0.04% | $961.9M | — | 5.9 | 1.4 | −64.4% |
| Redwood Trust | $4.65 | +0.84% | $580.3M | — | 4.9 | 0.4 | +68.5% |
| PennyMac Mortgage Investment Trust | $9.34 | −0.16% | $814.5M | 6.5 | 7.4 | 0.5 | +1,323.8% |
| Starwood Property Trust | $15.85 | +0.27% | $5.86B | 23.2 | 9.4 | 2.9 | +7.9% |
| Median | 7.4 | 6.4 | 1.1 | −21.1% |