5 High-Yield But Safe Dividend Stocks to Buy Now

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1. Ellington Financial Inc. (NYSE:EFC)

Dividend Yield as of July 22: 11.47%

Ellington Financial Inc. (NYSE:EFC) is an American real estate credit company that provides services related to retirement, investment, and insurance planning.

Ellington Financial Inc. (NYSE:EFC) reported cash and cash equivalents of $363.2 million at the end of Q1 2022, compared with $92.6 million in the previous quarter. It distributed dividends worth $11.6 million during the quarter, up from $10.3 million at the end of December 2021. Ellington Financial Inc. (NYSE:EFC) started paying monthly dividends in 2019 and paid quarterly dividends steadily for seven consecutive years before that. It currently offers a monthly payout of $0.15 per share, with a yield of 11.47%, as of July 22.

In July, Keefe Bruyette reduced its book value estimates on mortgage real estate investment trust and downgraded Ellington Financial Inc. (NYSE:EFC) to Market Perform with a $14.75 price target.

Mike Vranos’ Ellington owned stakes worth over $16.4 million in Ellington Financial Inc. (NYSE:EFC), becoming the company’s leading shareholder in Q1 2022. Overall, 7 hedge funds in Insider Monkey’s database owned stakes in the company in Q1, the same as in the previous quarter. The collective value of these stakes is over $25.6 million.

You can also take a look at 9 Best Indian Stocks to Buy Right Now and 10 Dividend Stocks That Have Doubled Their Payouts

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