ALTE GREENWICH, Conn. – (BUSINESS WIRE) – Ellington Residential Mortgage REIT (NYSE: EARN) (the “Company”) today announced its estimated book value per share as of April 30, 2020 of $ 12.44.
The estimated book value per share may change at the end of the month and end of the quarter in relation to its investment positions after the Company’s valuation processes have been completed, and any such change could be material (especially given the significant volatility, lack of price transparency, and market dislocations caused by the pandemic of the novel coronavirus (COVID-19) and the associated responses to the pandemic). There can be no assurance that the company’s estimated book value per share as of the 30th and the Company assumes no obligation to update or revise its estimated book value per share prior to the publication of the financial statements for that period. The estimated book value per share for which management of the company is responsible has been established by management of the company and is based on a number of assumptions including, but not limited to, the fair value of the company’s assets, which may not be the liquidation value of such assets, especially in view of the considerable volatility, lack of price transparency and the market distortions discussed above. Additional adjustments can be identified that could result in material changes in the estimated book value per share of the company. The company’s independent, registered auditing firm has neither audited, verified, compiled or performed the estimated book value per share of the company.
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve numerous risks and uncertainties. Actual results of the company could differ from the beliefs, expectations, estimates and projections of the company and therefore you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and may include words such as “believe”, “expect”, “anticipate”, “estimate”, “project”, “plan”, “continue”, “intend”, “should”, “would” “could”, “aim”, “objective”, “will”, “may”, “seek” or similar expressions or their negative forms, or through references to strategy, plans or intentions. Examples of forward-looking statements in this press release include the company’s book value per share. The company’s results may fluctuate from month to month and quarter to quarter depending on a variety of factors, some of which are beyond the control of the company and / or difficult to predict, including but not limited to changes in interest rates and the market value of securities of the Company, changes in mortgage default and prepayment rates, the Company’s ability to borrow to fund its assets, changes in government regulations that affect the Company’s business, the Company’s ability to prevent its from registration under the Investment Company Act of 1940 and other changes in market conditions and economic trends, including changes resulting from the economic impact associated with the COVID-19 pandemic and related responses to the pandemic. In addition, forward-looking statements are subject to risks and uncertainties, including but not limited to those set out in Item 1A of the Company’s Annual Report on Form 10-K, filed March 12, 2020, and Part II, Item 1A of the Company’s Quarterly Report on Form 10-Q, filed on May 11, 2020, which can be accessed by clicking the link to the company’s SEC filings under “For Our Shareholders” on the company’s website (www.earnreit.com) or the SEC’s website (www.sec.) can .gov). Other risks, uncertainties, and factors that could cause actual results to differ materially from those anticipated or implied may be described from time to time in reports we file with the SEC, including reports on Form 10-Q, 10-K and 8-K. The company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason.
This announcement and the information contained herein do not constitute an offer of securities or a solicitation of an offer to buy any securities.
About Ellington Residential Mortgage REIT
Ellington Residential Mortgage REIT is a mortgage real estate investment trust that specializes in the acquisition, investment in, and management of mortgage and real estate-related assets by a US government agency or a US government funded company. Ellington Residential Mortgage REIT is externally managed and advised by Ellington Residential Mortgage Management LLC, a subsidiary of Ellington Management Group, LLC