Ellington Residential Mortgage REIT (NYSE:EARN) Q4 2023 Earnings Conference Call March 7, 2024 11:00 AM ET

Company Participants

Alaael-Deen Shilleh - Associate General Counsel

Larry Penn - CEO

Chris Smernoff - CFO

Mark Tecotzky - Co-CIO

Conference Call Participants

Doug Harter - UBS

Matthew Erdner - JonesTrading

Eric Hagen - BTIG

Operator

Good morning ladies and gentlemen. Thank you for standing by and welcome to the Ellington Residential Mortgage REIT 2023 Fourth Quarter Financial Results Conference Call. Today's call is being recorded and at this time, all participants have been placed in a listen-only mode. The floor will be open for questions following the presentation. [Operator Instructions]

It is now my pleasure to turn the conference over to Alaael-Deen Shilleh, Associate General Counsel. Sir, you may begin.

Alaael-Deen Shilleh

Thank you. Before we begin, I would like to remind everyone that certain statements made during this conference call may constitute forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.

Forward-looking statements are not historical in nature and are subject to a variety of risks and uncertainties that could cause the company's actual results to differ from its beliefs, expectations, estimates, and projections. Consequently, you should not rely on these forward-looking statements as predictions of future events.

We strongly encourage you to review the information that we have filed with the SEC, including the earnings release and the Form 10-K for more information regarding these forward-looking statements and any related risks and uncertainties.

Unless otherwise noted, statements made during this conference call are made as of the date of this call, and the company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Joining me on the call today are Larry Penn, Chief Executive Officer of Ellington Residential; Mark Tecotzky, our Co-Chief Investment Officer; and Chris Smernoff, our Chief Financial Officer.

As described in our earnings press release, our fourth quarter earnings conference call presentation is available on our website, earnreit.com. Our comments this morning will track to the presentation. Please note that any references to figures in this presentation are qualified in their entirety by the notes at the back of the presentation.

With that, I will now turn the call over to Larry.

Larry Penn

Thanks Alaael-Deen and good morning everyone. We appreciate your time and interest in Ellington Residential. As with much of 2023, in the fourth quarter, markets gyrated between a selloff and a rally with tumultuous October giving way to a market rally in November and December.