EFC Ellington Financial Inc.
Price Chart
Executive Summary
Ellington Financial reported exceptional Q1 2026 results, with GAAP net income to common stockholders surging to $95.5M ($0.78/share) from $14.7M in Q4 2025, driven by strong securitization activity, credit portfolio performance, and a $17M litigation settlement. Adjusted distributable earnings also rose to $0.55/share, comfortably covering the $0.39 dividend, while book value per share increased 3% to $13.56.
Actionable Insight
The strong quarter and rising book value support dividend sustainability. Watch for continued securitization execution and potential preferred equity refinancing, which could further lower cost of capital.
Key Facts
- Net income attributable to common stockholders: $95.5M, or $0.78 per share (vs. $14.7M, $0.14 in Q4 2025)
- Adjusted Distributable Earnings of $66.5M, or $0.55 per share (vs. $51.4M, $0.47 in Q4 2025)
- Book value per share rose to $13.56 from $13.16 in Q4 2025
- Longbridge segment net income of $57.5M including $17.0M litigation settlement
- Recourse debt-to-equity ratio unchanged at 1.91; total unencumbered assets of $1.92B
Financial Impact
GAAP net income surged 551% sequentially; ADE grew 29% sequentially
Risk Factors
- Securitization gains and litigation settlement are non-recurring; core earnings may revert
- Higher interest rates could pressure asset yields and increase financing costs
- Credit performance deterioration in loan portfolios could reverse gains
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-030664 |
| Document: efc-20260505.htm | 0001628280-26-030664 |
| Document: 0001628280-26-030664-index-headers.html | 0001628280-26-030664 |
| Document: 0001628280-26-030664-index.html | 0001628280-26-030664 |
| Document: 0001628280-26-030664.txt | 0001628280-26-030664 |
| 8-K Data (Synthetic) | 0001628280-26-030664 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 29, 2026
16d ago
|
8-K
| $23.12 $23.10 | ▼ −0.09% | ▲ +2.66% | $13.68 (−40.83%) |
|
May 11, 2026
4w ago
|
8-K
| $25.59 $25.52 | ▼ −0.27% | ▼ −0.18% | $13.68 (−46.54%) |
|
May 5, 2026
5w ago
|
8-K
| $23.17 $23.06 | ▼ −0.47% | ▼ −1.61% | $13.68 (−40.96%) |
|
Apr 28, 2026
6w ago
|
8-K
| $25.35 $25.36 | ▲ +0.06% | ▼ −1.63% | $13.68 (−46.02%) |
|
Mar 25, 2026
11w ago
|
8-K
| $11.53 $11.90 | ▲ +3.25% | ▲ +3.50% | $13.68 (+18.70%) |
|
Mar 5, 2026
14w ago
|
8-K
| $11.78 $11.67 | ▼ −0.93% | ▲ +0.59% | $13.68 (+16.13%) |
|
Feb 26, 2026
15w ago
|
8-K
| $12.19 $12.07 | ▼ −1.03% | ▲ +0.09% | $13.68 (+12.21%) |
US Market Status
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