Ellington Residential Announces Strategic Transformation
Ellington Residential Mortgage REIT (NYSE: EARN) (the “Company”) today announced that its Board of Trustees has unanimously approved a strategic transformation of its investment strategy to focus on corporate collateralized loan obligations (“CLOs”).
- Ellington Residential Mortgage REIT (NYSE: EARN) (the “Company”) today announced that its Board of Trustees has unanimously approved a strategic transformation of its investment strategy to focus on corporate collateralized loan obligations (“CLOs”).
- In connection with its strategic transformation, the Company has decided to revoke its REIT election for tax year 2024.
- In light of the strategic transformation, the Company will reschedule its 2024 annual meeting of shareholders.
- We believe that this strategic transformation will greatly enhance our ability to grow book value per share over time and unlock additional value for our shareholders.