Ellington Credit Co Reports Decline in Estimated NAV to $4.26-$4.32 for April 2026
EARN is trading near its 52-week low of $4.27 (12% above the low).
Summary
Ellington Credit Co reported a decline in its estimated Net Asset Value (NAV) per share for April 2026, now ranging from $4.26 to $4.32, continuing a recent downward trend.
Key Events · Financing and Capital Events · EARN
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Estimated NAV Decline
The estimated Net Asset Value (NAV) per common share decreased to $4.26-$4.32 as of April 30, 2026, a decline from the $4.46-$4.52 reported in mid-March 2026.
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Trading at Premium to NAV
The company's closing stock price of $4.72 as of April 30, 2026, represents a 10.0% premium to the midpoint of the estimated NAV.
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Portfolio Composition Update
The CLO portfolio totals $328 million, consisting of 53% CLO equity and 47% CLO debt, with 95.5% of underlying loans being senior secured.
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High Distribution Rate Noted
The fund maintains a monthly distribution of $0.08 per share, equating to a 20.38% current distribution rate, with a cautionary note that distributions are not guaranteed and may include return of capital.
Analysis · EARN · Unknown
Ellington Credit Co's estimated Net Asset Value (NAV) per share declined to $4.26-$4.32 as of April 30, 2026, down from $4.46-$4.52 reported in mid-March. This represents a material decrease in the underlying value of the fund's assets, which is a negative indicator for shareholders. The fund continues to trade at a premium to its estimated NAV, currently 10.0%.
At the time of this filing, EARN was trading at $4.80 on NYSE in the Unknown sector, with a market capitalization of approximately $181.2M. The 52-week trading range was $4.27 to $6.08. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.