Ellington Financial ( (EFC) ) has shared an update.
Ellington Financial Inc. reported its fourth-quarter 2024 results, highlighting a net income of $22.4 million attributable to common stockholders. The company experienced strong performance from its loan originator affiliates, particularly in its reverse mortgage loan platform, Longbridge Financial. The quarter saw a 39% growth in mortgage loan portfolios and successful securitization transactions, which contributed to gains and secured financing. The company also improved its liability management by refinancing higher-cost debt and preferred stock, which positively impacted earnings. Despite challenges in the Agency RMBS portfolio due to rising interest rates, the overall performance was bolstered by gains in the credit strategy and Longbridge segment.
More about Ellington Financial
Ellington Financial Inc. operates in the financial services industry, focusing on investment strategies that include credit, agency, and mortgage-related investments. The company is known for its proprietary loan origination businesses and securitization transactions, which are integral to its market operations.
YTD Price Performance: 10.93%
Average Trading Volume: 943,129
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.21B
For an in-depth examination of EFC stock, go to TipRanks’ Stock Analysis page.