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Ellington posts $54.4M Q2 profit as Longbridge reverse originations rise 38%
Longbridge reverse mortgage originations climbed to $589.7 million in Q2, lifting HMBS market share to a record 29%, while Ellington covered its quarterly dividend with $75.5 million in adjusted distributable earnings.
Ellington Financial reported second-quarter 2026 net income attributable to common stockholders of $54.4 million, or $0.43 per share, alongside adjusted distributable earnings of $75.5 million that exceeded its 39 cents per share dividend, according to HousingWire. The REIT said its results reflected strong loan credit performance and momentum in reverse mortgage production through its Longbridge Financial unit. Ellington also reported book value per common share rose to $13.61 as of June 30, including the impact of dividends paid during the quarter.
Longbridge reverse mortgage originations grew 38% year over year to $589.7 million from April through June, and its HMBS market share reached a record 29%, making it the No. 2 issuer. The company completed two proprietary reverse mortgage securitizations during the quarter.
Ellington attributed part of the quarter’s results to investment portfolio income and Longbridge segment contributions, with $74.2 million of net income attributable to common stockholders from the investment portfolio segment and $30.2 million from the Longbridge reverse mortgage segment. Because securitized loans were removed from the balance sheet, the Longbridge portfolio declined 7% sequentially to $649.3 million as of June 30, despite the higher origination volumes.