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Eagle Point Income Company Inc. reports developments for a diversified closed-end management investment company focused on high current income and capital gains. The company invests primarily in junior debt tranches of collateralized loan obligations, with the ability to allocate a portion of assets to CLO equity securities, and is externally managed and advised by Eagle Point Income Management LLC.
Recurring updates include financial results, monthly common and preferred distributions, net asset value estimates, net investment income ranges, and portfolio-related disclosures. News also covers capital-structure actions such as common stock offerings, preferred stock issuances, preferred stock redemptions, ratings on preferred securities, revolving credit arrangements, and exchange-traded securities tied to the company’s common and preferred stock.
Eagle Point Income Company (EIC) reported its financial results for Q2 2022, including net investment income (NII) and realized capital gains of $0.41 per share. The net asset value (NAV) per share decreased to $13.66, down from $16.52 in Q1 2022. The company experienced a GAAP net loss of $17.9 million, or $2.56 per share, primarily due to unrealized losses. However, a 12% increase in monthly distributions to $0.14 per share was declared, reflecting confidence in future cash flows.
Eagle Point Income Company has declared distributions for its common stock, increasing the amount to $0.14 per share, a 12% rise from the previous $0.125. These distributions will be paid on October 31, November 30, and December 30, 2022. Shareholders of record will be notified accordingly. The company also announced distributions for its 5.00% Series A Term Preferred Stock, set at $0.104167 per share for the same payment dates. The distributions stem from net investment income and may include capital gains.
Eagle Point Income Company (NYSE: EIC) plans to release its financial results for the quarter ending June 30, 2022, before market opening on August 16, 2022. A conference call will take place at 11:30 a.m. ET the same day, hosted by CEO Thomas P. Majewski and CAO Lena Umnova. The call can be accessed via phone or internet, and a replay will be available for 30 days post-call. The Company focuses on generating high current income through investments in junior debt tranches of CLOs and may also invest in CLO equity securities.
Eagle Point Income Company reported its financial results for Q1 2022. The Company reported a net investment income of $0.33 per share and a net loss of $0.8 million, or $0.12 per share. As of March 31, 2022, NAV per common share was $16.52, marking a decline from previous quarters. The Company deployed $5.1 million in capital, while the weighted average yield on its CLO portfolio increased to 11.34%. A special distribution of $0.20 per share was paid on January 24, 2022. The estimated NAV as of April 30, 2022, is between $16.19 and $16.23.
Eagle Point Income Company has declared distributions for its common and Series A Term Preferred Stock. A total of three distributions of $0.125 per common share are set for July 29, August 31, and September 30, 2022, with respective record dates of July 11, August 11, and September 12, 2022. For the Series A Term Preferred Stock, distributions of $0.104167 per share are scheduled for the same dates. These distributions stem from net investment income, with tax characteristics to be reported later.
Eagle Point Income Company (NYSE: EIC, EICA) is set to release its financial results for the quarter ending March 31, 2022, before market opening on May 24, 2022. A conference call to discuss these results will take place at 11:30 a.m. (Eastern Time) the same day, hosted by CEO Thomas P. Majewski and CAO Lena Umnova. The call will be accessible via phone and internet, with a replay option available for 30 days post-call. The Company focuses on generating high current income from junior debt tranches of CLOs and may invest up to 35% in CLO equity securities.
Eagle Point Income Company announced its financial results for the quarter and fiscal year ending December 31, 2021. The company reported a net investment income (NII) and realized capital gains of $0.14 per common share. The net asset value (NAV) per common share was $16.76, down from $17.69 in the previous quarter. A GAAP net loss of $1.6 million was recorded for the fourth quarter. The company raised approximately $45 million through various capital offerings. Looking ahead, the NAV is estimated to be between $16.89 and $16.93 as of January 31, 2022.
Eagle Point Income Company (NYSE: EIC, EICA) has declared a 4% increase in its monthly common stock distribution to $0.125 per share, effective for three payments on April 29, May 31, and June 30, 2022. Record dates are set for April 11, May 11, and June 10, 2022. The company also declared distributions on its Series A Term Preferred Stock, amounting to $0.104167 per share. These distributions reflect the company's strong financial performance and confidence in its investment portfolio, which focuses on high current income and capital appreciation.
Eagle Point Income Company (NYSE: EIC, EICA) will announce its financial results for the quarter and fiscal year ended December 31, 2021, on February 17, 2022, before market opening. The company will hold a conference call at 11:30 a.m. ET, hosted by CEO Thomas P. Majewski and CFO Kenneth P. Onorio. Participants can join via phone or the company's website. The company focuses on generating high current income through investments in junior debt tranches of CLOs, with up to 35% of total assets in CLO equity securities.
Eagle Point Income Company (NYSE: EIC, EICA) announced the partial exercise of the overallotment option by B. Riley Securities, resulting in the issuance of 48,000 additional shares of common stock at $18.45 per share. This offering, part of a previously disclosed public offering of 600,000 shares, closed on November 2, 2021, generating approximately $0.9 million in net proceeds. Investors are advised to review the related prospectus for detailed information on investment risks and objectives.