Ellington Financial drops after mREIT's  $119 mln stock sale

Ellington Financial

27/01/2026 11:59

** Mortgage real estate investment trust Ellington Financial's EFC.N shares down 2.3% to $13.54 before the bell after $118.5 mln follow-on priced

** Old Greenwich, Connecticut-based EFC late Mon sold  ~8.8 mln shares

** Offering price equates to $13.50, a 2.6% discount to last close

** Co intends to use net offering proceeds to fully redeem fixed-to-floating rate preferred stock, any remainder for general purposes

** Morgan Stanley and Goldman joint bookrunners

** Co has ~115.9 mln shares outstanding as of Jan 23, per offering prospectus

** Through Mon, shares up about 11% over the past year

** 7 of 8 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT $14.50, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))