Ellington Financial Inc. announced an estimated book value per common share of $13.17 as of November 30, 2025. This estimate incorporates the effect of the $0.13 monthly dividend declared for December 31, 2025, payable to holders of record on November 28, 2025. The company noted that this preliminary figure remains subject to adjustment upon completion of its month-end and quarter-end valuation procedures across its portfolio of residential and commercial mortgage loans, mortgage-backed securities, mortgage servicing rights, consumer and asset-backed loans, collateralized loan obligations and related derivatives. Any revision could be material, and the final book value will be reported in Ellington Financial’s full fourth-quarter financial statements.

Since its IPO, Ellington Financial has delivered cumulative annualized shareholder value creation of approximately 4.49% of NAV per share, trailing the S&P 500’s 12.5% annualized return over the same period. Despite this dispersion, the company currently trades at a 2.2% premium to NAV, near its highest mark in five years. Analysts attribute the valuation support to a consistent dividend yield—Ellington has paid 57 consecutive monthly dividends—though they caution that future NAV growth may be restrained by rising interest rates, tighter credit spreads and potential prepayment volatility in its mortgage-related holdings. Consensus forecasts project annual NAV per share growth of 1–2% over the next 12 months, supplemented by the dividend to produce total returns in the 4–5% range.