Ellington Credit CoEARN
Price$3.98Intrinsic value$4.6216% above price

Qualitative Analysis

Business overview

Business Overview

Ellington Credit Co (NYSE: EARN), formerly known as Ellington Residential Mortgage REIT, is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940. The company specializes in acquiring, investing in, and managing secondary collateralized loan obligations (CLOs), with a primary focus on mezzanine debt and equity tranches. Its investment objective is to generate attractive current yields and risk-adjusted total returns for its shareholders. The fund is externally managed and advised by Ellington Credit Company Management LLC, an affiliate of Ellington Management Group, L.L.C..

Research as of 20 Jun 2026

Strategic Initiatives

Growth programs, investments, and their expected impact

AI-assisted
CLO Strategic TransformationTransformation

A comprehensive shift in investment strategy from residential mortgage-backed securities (RMBS) to corporate collateralized loan obligations (CLOs), specifically targeting secondary mezzanine debt and equity tranches.

Expected impact: Aims to generate attractive risk-adjusted total returns and high current yields with lower earnings volatility compared to the legacy mortgage REIT model.

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InvestmentReallocation of capital from Agency MBS to CLO assets, with the CLO portfolio expanding to over $171 million.
TimelineApproved on March 29, 2024, with the formal conversion completed on April 1, 2025.
AI-assisted, source-linked narrative; figures from company filings (SEC EDGAR) and market data. Dates shown per section. Not investment advice. Terms of Use.