ICR Stock Price, News & Analysis
Company Description
InPoint Commercial Real Estate Income, Inc. (historically associated with the symbol ICR for certain preferred shares) is described in its public disclosures as a commercial mortgage real estate investment trust. According to the company, it seeks to originate, acquire and manage a diversified credit portfolio secured by commercial real estate properties primarily within the United States. The company is incorporated in Maryland and, based on its SEC filings, maintains its principal offices in Oak Brook, Illinois.
As a commercial mortgage REIT, InPoint Commercial Real Estate Income, Inc. focuses on investments that are secured by commercial real estate. Its SEC filings show that key components of its net asset value include commercial mortgage loans, real estate owned, cash and cash equivalents, restricted cash, and other related assets and liabilities. The company reports that it calculates net asset value (NAV) per share in accordance with valuation guidelines approved by its board of directors, and that NAV per share is updated as of the last calendar day of each month.
InPoint Commercial Real Estate Income, Inc. issues multiple classes of common stock, including Class A, Class D, Class I, Class P and Class T shares, as reflected in its periodic net asset value tables filed with the SEC. These filings detail the net asset value attributable to common stock, the number of outstanding shares for each class, and the resulting NAV per share. Certain share classes, such as Class T and Class D, are subject to stockholder servicing fees that are recognized as a reduction of NAV on a monthly basis for NAV calculation purposes.
The company also has 6.75% Series A Cumulative Redeemable Preferred Stock, referenced in both SEC filings and prior dividend announcements. The preferred stock is associated with the ICR PRA/ICR PR A designation in regulatory and market disclosures. The board of directors has authorized quarterly dividends on this preferred stock, and the company has also authorized periodic cash distributions on its various classes of common stock, with gross and net amounts per share disclosed in its current reports on Form 8-K.
InPoint Commercial Real Estate Income, Inc. describes its approach to valuation and reporting in its prospectus and related SEC filings. Inland InPoint Advisor, LLC is identified in the filings as the advisor that is ultimately responsible for determining NAV, operating under valuation guidelines approved by the company’s board. The company’s public offering of certain share classes was conducted under a registration statement referenced as SEC Registration No. 333-264540, and the company has disclosed that the primary portion of this public offering and its amended and restated distribution reinvestment plan were suspended by board action on January 30, 2023.
Based on its filings, InPoint Commercial Real Estate Income, Inc. is an emerging growth company under applicable securities regulations. It holds annual meetings of stockholders at which directors are elected and the appointment of an independent registered public accounting firm is submitted to stockholder vote. The company has reported the results of such votes, including the election of directors and the ratification of its independent auditor, in its current reports on Form 8-K.
In addition to NAV and distribution information, InPoint Commercial Real Estate Income, Inc. periodically furnishes letters to stockholders and portfolio status updates as exhibits to its SEC filings. These materials, referenced in Form 8-K filings, provide information regarding the status of the company’s investment portfolio as of specified dates. The company also notes that certain furnished information is not deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 unless specifically incorporated by reference.
Overall, according to its own disclosures, InPoint Commercial Real Estate Income, Inc. operates as a commercial mortgage REIT focused on a diversified credit portfolio secured by commercial real estate in the United States, with multiple share classes, regular NAV reporting, and recurring cash distributions on both common and preferred equity.