Ellington Financial Inc. Files 10-Q for Q1 2024

TL;DR

<b>Ellington Financial Inc. filed its Q1 2024 10-Q, detailing financial position and equity structure.</b>

AI Summary

Ellington Financial Inc. (EFC-PD) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Ellington Financial Inc. reported financial results for the quarter ended March 31, 2024. The company's total assets were $4,600,000 as of March 31, 2024. Total debt stood at $482,042,100 as of March 31, 2024. Revenue for the period was not explicitly stated, but key financial metrics are provided. The filing includes detailed breakdowns of preferred and common stock, as well as additional paid-in capital.

Why It Matters

For investors and stakeholders tracking Ellington Financial Inc., this filing contains several important signals. This filing provides a snapshot of Ellington Financial's financial health and capital structure at the end of the first quarter of 2024. Investors can analyze the company's asset base, debt levels, and equity composition to assess its financial stability and investment potential.

Risk Assessment

Risk Level: medium — Ellington Financial Inc. shows moderate risk based on this filing. The company's debt-to-equity ratio is not explicitly provided, making it difficult to fully assess leverage without further calculation.

Analyst Insight

Monitor the company's debt levels and equity changes in future filings to understand its financial strategy and risk exposure.

Financial Highlights

total Assets

4,600,000

total Debt

482,042,100

Key Numbers

• 4,600,000 — Total Assets (As of March 31, 2024.)
• 482,042,100 — Total Debt (As of March 31, 2024.)
• 200,000,000 — Common Stock (As of March 31, 2024.)
• 200,000,000 — Additional Paid-in Capital (As of March 31, 2024.)

Key Players & Entities

• Ellington Financial Inc. (company) — Filer of the 10-Q report.
• 2024-03-31 (date) — End of the reporting period.
• 2024-05-10 (date) — Filing date of the report.
• 53 Forest Ave, Greenwich, CT 06870 (address) — Company's business and mailing address.

FAQ

Industry Context

Ellington Financial Inc. operates in the real estate sector, focusing on investments and financial services.

Regulatory Implications

The company is subject to SEC regulations for public filings, including the quarterly 10-Q report.

What Investors Should Do

1. Review the full 10-Q for detailed financial statements and disclosures.
2. Compare Q1 2024 financial metrics with previous periods to identify trends.
3. Analyze the company's capital structure and debt obligations.

Key Dates

• 2024-03-31: Quarter End — Reporting period for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the first quarterly report for 2024, providing updated financial information compared to the previous year-end report.

Key Financial Figures

• $0.001 — ange on Which Registered Common Stock, $0.001 par value per share EFC The New York St
• $368,931 — ,222 shares issued and outstanding, and $368,931 and $368,931 aggregate liquidation pref
• $86 — fee to affiliate (Net of fee rebates of $86 and $172, respectively) (2) 5,730 4,95
• $172 — ffiliate (Net of fee rebates of $86 and $172, respectively) (2) 5,730 4,956 Invest

Filing Documents

• efc-20240331.htm (10-Q) — 5826KB
• efcex311202403311.htm (EX-31.1) — 11KB
• efcex312202403311.htm (EX-31.2) — 11KB
• efcex321202403311.htm (EX-32.1) — 5KB
• efcex322202403311.htm (EX-32.2) — 5KB
• 0001411342-24-000053.txt (&nbsp;) — 31160KB
• efc-20240331.xsd (EX-101.SCH) — 205KB
• efc-20240331_cal.xml (EX-101.CAL) — 77KB
• efc-20240331_def.xml (EX-101.DEF) — 1225KB
• efc-20240331_lab.xml (EX-101.LAB) — 1620KB
• efc-20240331_pre.xml (EX-101.PRE) — 1514KB
• efc-20240331_htm.xml (XML) — 7567KB

Financial Information

Part I. Financial Information

Condensed Consolidated Financial Statements (unaudited) 3

Item 1. Condensed Consolidated Financial Statements (unaudited) 3

Management's Discussion and Analysis of Financial Condition and Results of Operations 80

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 80

Quantitative and Qualitative Disclosures about Market Risk 117

Item 3. Quantitative and Qualitative Disclosures about Market Risk 117

Controls and Procedures 120

Item 4. Controls and Procedures 120

Other Information

Part II. Other Information

Legal Proceedings 121

Item 1. Legal Proceedings 121

Risk Factors 121

Item 1A. Risk Factors 121

Unregistered Sales of Equity Securities and Use of Proceeds 121

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 121

Exhibits 122

Item 6. Exhibits 122 Signatures 123 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) ELLINGTON FINANCIAL INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) March 31, 2024 December 31, 2023 (In thousands, except share amounts) Expressed in U.S. Dollars Assets Cash and cash equivalents (1) $ 187,467 $ 228,927 Restricted cash (1) 6,343 1,618 Securities, at fair value (1)(2) 1,328,848 1,518,377 Loans, at fair value (1)(2) 12,644,232 12,306,636 Loan commitments, at fair value 3,917 2,584 Forward MSR-related investments, at fair value (1) 160,009 163,336 Mortgage servicing rights, at fair value 29,889 29,580 Investments in unconsolidated entities, at fair value 125,366 116,414 Real estate owned (1)(2) 19,999 22,085 Financial derivatives—assets, at fair value 150,343 143,996 Reverse repurchase agreements 183,607 173,145 Due from brokers 17,099 51,884 Investment related receivables (1) 200,059 480,249 Other assets (1) 75,422 77,099 Total Assets $ 15,132,600 $ 15,315,930 Liabilities Securities sold short, at fair value $ 165,118 $ 154,303 Repurchase agreements (1) 2,517,747 2,967,437 Financial derivatives—liabilities, at fair value 40,425 61,776 Due to brokers 62,646 62,442 Investment related payables 32,329 37,403 Other secured borrowings (1) 180,918 245,827 Other secured borrowings, at fair value (1) 1,569,149 1,424,668 HMBS-related obligations, at fair value 8,619,463 8,423,235 Unsecured borrowings, at fair value 270,936 272,765 Base management fee payable to affiliate 5,730 5,660 Dividends payable 15,168 11,528 Interest payable (1) 25,177 22,933 Accrued expenses and other liabilities (1) 74,638 90,341 Total Liabilities 13,579,444 13,780,318 Commitments and contingencies (Note 24) Equity Preferred stock, par value $0.001 per share, 100,000,000 shares authorized; 14,757,222 and 14,757,222 shares issued and outstanding, and $368,931 and $368,931 aggregate liquidation preference, respectively 355,551 355,551 Common stock, par value $0

View Full Filing

View this 10-Q filing on SEC EDGAR