Ellington Financial reports Q2 EPS 16c, consensus 27c
Reports book value per share as of June 30, 2017 of $19.21 on a diluted basis. The company said, "Our performance reflects solid carry from our long investments, but that carry was partially offset by losses on our hedging portfolio and our relative value trading strategies, as spreads continued to tighten and volatility remained low in most credit sectors. Although we net sold U.S. non-Agency RMBS over the quarter as the rally in that sector continued, our total allocation to RMBS credit actually increased, as we added U.K. non-conforming RMBS investments, which we believe currently offer superior value to their U.S. counterparts. We also net added to our CLO, small balance commercial mortgage loan, and non-QM mortgage loan portfolios during the quarter."