Ellington Financial Inc. reported a net income attributable to common stockholders of $26.9 million, or $0.32 per common share, for the first quarter of 2024. The company's investment portfolio generated $43.0 million, driven by the credit strategy ($40.9 million) and the Agency strategy ($2.1 million). Adjusted Distributable Earnings were $23.7 million, or $0.28 per common share.
Net income attributable to common stockholders was $26.9 million, or $0.32 per common share.
Adjusted Distributable Earnings of $23.7 million, or $0.28 per common share.
Book value per common share as of March 31, 2024 was $13.69, including the effects of dividends of $0.43 per common share for the quarter.
Cash and cash equivalents of $187.5 million as of March 31, 2024, in addition to other unencumbered assets of $544.5 million.
The company continues to focus on deploying capital, driving origination profits at Longbridge, and managing sub-performing loans in the commercial bridge loan portfolio, while balancing near-term earnings growth with opportunistic investments.
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