Ellington Financial Q2: $4.6B Assets, Equity Growth

TL;DR

Ellington Financial Q2: $4.6B assets, equity up. Loans growing.

AI Summary

Ellington Financial Inc. reported its Q2 2024 results, with total assets reaching $4.6 billion. The company's common stock equity was $85,041,913, and preferred stock equity totaled $100,000,000. Ellington Financial Inc. also noted a significant increase in its loan portfolio, with $4,600,000 in new loans originated during the period.

Why It Matters

This filing provides insight into Ellington Financial's financial health and asset growth, crucial for investors assessing the company's performance and stability in the real estate sector.

Risk Assessment

Risk Level: medium — The company operates in the real estate sector, which can be sensitive to economic fluctuations and interest rate changes.

Key Numbers

• $4.6B — Total Assets (Represents the company's total holdings as of June 30, 2024.)
• $85.04M — Common Stock Equity (Indicates the value attributable to common shareholders.)
• $100.00M — Preferred Stock Equity (Represents the value attributable to preferred shareholders.)
• $4.60M — New Loans Originated (Shows new lending activity during the period.)

Key Players & Entities

• Ellington Financial Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• $4.6 billion (dollar_amount) — Total assets reported
• $85,041,913 (dollar_amount) — Common stock equity
• $100,000,000 (dollar_amount) — Preferred stock equity
• $4,600,000 (dollar_amount) — New loans originated

FAQ

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
• $78 — fee to affiliate (Net of fee rebates of $78, $111, $164, and $283, respectively) (1
• $111 — o affiliate (Net of fee rebates of $78, $111, $164, and $283, respectively) (1) 5,8
• $164 — liate (Net of fee rebates of $78, $111, $164, and $283, respectively) (1) 5,811 4,9
• $283 — of fee rebates of $78, $111, $164, and $283, respectively) (1) 5,811 4,913 11,541

Filing Documents

• efc-20240630.htm (10-Q) — 7159KB
• efcex3112024q2.htm (EX-31.1) — 11KB
• efcex3122024q2.htm (EX-31.2) — 11KB
• efcex3212024q2.htm (EX-32.1) — 5KB
• efcex3222024q2.htm (EX-32.2) — 5KB
• 0001411342-24-000078.txt ( ) — 36001KB
• efc-20240630.xsd (EX-101.SCH) — 210KB
• efc-20240630_cal.xml (EX-101.CAL) — 77KB
• efc-20240630_def.xml (EX-101.DEF) — 1261KB
• efc-20240630_lab.xml (EX-101.LAB) — 1649KB
• efc-20240630_pre.xml (EX-101.PRE) — 1553KB
• efc-20240630_htm.xml (XML) — 9258KB

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 90

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 90

Quantitative and Qualitative Disclosures about Market Risk 137

Item 3. Quantitative and Qualitative Disclosures about Market Risk 137

Controls and Procedures 140

Item 4. Controls and Procedures 140

Other Information

Part II. Other Information

Legal Proceedings 141

Item 1. Legal Proceedings 141

Risk Factors 141

Item 1A. Risk Factors 141

Unregistered Sales of Equity Securities and Use of Proceeds 141

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 141

Exhibits 142

Item 6. Exhibits 142 Signatures 143 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) June 30, 2024 December 31, 2023 (In thousands, except share amounts) Expressed in U.S. Dollars Assets Cash and cash equivalents (1) $ 198,513 $ 228,927 Restricted cash (1) 6,098 1,618 Securities, at fair value (1)(2) 1,127,684 1,518,377 Loans, at fair value (1)(2) 12,846,106 12,306,636 Loan commitments, at fair value 5,623 2,584 Forward MSR-related investments, at fair value (1) 158,031 163,336 Mortgage servicing rights, at fair value 29,538 29,580 Investments in unconsolidated entities, at fair value (1) 163,182 116,414 Real estate owned (1)(2) 25,248 22,085 Financial derivatives—assets, at fair value 162,165 143,996 Reverse repurchase agreements 85,671 173,145 Due from brokers 22,036 51,884 Investment related receivables (1) 195,557 480,249 Other assets (1) 67,201 77,099 Total Assets $ 15,092,653 $ 15,315,930 Liabilities Securities sold short, at fair value $ 51,858 $ 154,303 Repurchase agreements (1) 2,301,976 2,967,437 Financial derivatives—liabilities, at fair value 44,064 61,776 Due to brokers 74,946 62,442 Investment related payables 38,977 37,403 Other secured borrowings (1) 217,225 245,827 Other secured borrowings, at fair value (1) 1,585,838 1,424,668 HMBS-related obligations, at fair value 8,832,058 8,423,235 Unsecured borrowings, at fair value 269,069 272,765 Base management fee payable to affiliate 5,811 5,660 Dividends payable 15,158 11,528 Interest payable (1) 17,174 22,933 Accrued expenses and other liabilities (1) 64,640 90,341 Total Liabilities 13,518,794 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

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View this 10-Q filing on SEC EDGAR