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 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.