Ellington Financial reports Q3 adjusted EPS 40c, consensus 36c

“In the third quarter, Ellington Financial’s (EFC) investment portfolio expanded as we utilized our strong balance sheet to continue growing our high-yielding loan portfolios. For the quarter, our non-QM loan, residential transition loan, commercial mortgage bridge loan, HELOC, and closed-end second lien loan portfolios increased by a combined 26%, which drove leverage incrementally higher, even as we continued to shrink our Agency portfolio and maintain additional dry powder to deploy,” said Laurence Penn, Chief Executive Officer and President.