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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 reported its first-quarter 2021 results with a net investment income of $0.32 per share and a GAAP net income of $1.6 million, or $0.25 per share. The company’s net asset value (NAV) stood at $16.90 per share as of March 31, 2021, reflecting a slight increase from the previous quarter. With a weighted average yield of 9.53% in its CLO portfolio, the company deployed $4.9 million in capital during the quarter. A subsequent estimated NAV range for April 30, 2021, is $17.36 to $17.40, and a 6% increase in monthly distributions to $0.09 per share will begin in July 2021.
The Eagle Point Income Company (NYSE:EIC) has declared a 5.9% increase in its monthly distribution rate, raising it to $0.09 per share from $0.085. Three distributions are scheduled for July 30, August 31, and September 30, 2021, with record dates on July 12, August 11, and September 10, 2021, respectively. The increase in distributions reflects strong portfolio performance, as indicated by CEO Thomas Majewski. Distributions primarily stem from net investment income and may also include capital gains or return of capital.
Eagle Point Income Company (NYSE:EIC) plans to announce its financial results for Q1 2021 on May 18, 2021, before market opening. A conference call will be held at 11:30 a.m. Eastern Time, hosted by Chairman and CEO Thomas P. Majewski, along with CFO Kenneth P. Onorio. Participants can join via phone or internet, with details available in the press release.
The Company aims to generate high current income primarily through junior debt tranches of CLOs and may invest 20% of its assets in CLO equity securities.
Eagle Point Income Company reported strong financial results for the quarter and fiscal year ending December 31, 2020.
Highlights include a net investment income of $0.29 per share and a NAV of $16.89, reflecting a 14% increase from the prior quarter.
GAAP net income stood at $15.1 million, or $2.48 per share, while the yield on the CLO portfolio increased to 9.03%.
Subsequently, NAV is estimated to rise to between $17.22 and $17.26 by January 31, 2021, and a distribution increase of 6.25% is set for April.
Eagle Point Income Company (NYSE:EIC) has declared three distributions of $0.085 per share, marking a 6.25% increase from the prior rate of $0.08. These distributions are scheduled for April 30, May 28, and June 30, 2021, with record dates of April 12, May 10, and June 10, respectively. Chairman Thomas Majewski expressed confidence in the company's future prospects with this increase. The distributions will be funded primarily from net investment income, along with potential capital gains and returns of capital, with tax implications provided to shareholders in 2022.
Eagle Point Income Company plans to report financial results for the quarter and fiscal year ended December 31, 2020, on February 23, 2021, before market opening. A conference call hosted by CEO Thomas P. Majewski and CFO Kenneth P. Onorio will take place at 11:30 a.m. ET on the same day. The Company aims to generate high current income primarily by investing in junior debt tranches of CLOs while also seeking capital appreciation. More detailed portfolio and financial information can be accessed on their website.
Eagle Point Income Company reported its financial results for Q3 2020, revealing a net investment income of $0.28 per share and a GAAP net income of $6.9 million, or $1.13 per share. The company's net asset value (NAV) stood at $14.84 per share as of September 30, 2020, an increase from the previous quarter. Total portfolio collections in October exceeded July totals due to favorable market conditions. The company also deployed $3.6 million in new investments during the quarter and has significant cash available for future investments.
Eagle Point Income Company has announced three distributions of $0.08 per share on its common stock, set for payment on January 29, February 26, and March 31, 2021. These distributions are payable to stockholders of record on January 12, February 12, and March 12, 2021, respectively. The distributions will mainly come from net investment income and may include capital gains or return of capital. Eagle Point Income Company aims to generate high current income by investing primarily in junior debt tranches of CLOs.
Eagle Point Income Company (EIC) will report its financial results for Q3 2020 on November 17, 2020, before market open. CEO Thomas P. Majewski and CFO Kenneth P. Onorio will host a conference call at 11:30 a.m. ET to discuss the results. Interested parties can join via phone or online registration. The company focuses on high current income from junior debt tranches of CLOs and allocates up to 20% of its assets in CLO equity securities. Monthly portfolio updates and financial information are available on the company’s website.