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Eagle Point Income Company Inc. (symbol: EIC) is a non-diversified, closed-end management investment company headquartered in Greenwich, Connecticut. The company’s primary investment objective is to generate high current income, with a secondary goal of achieving capital appreciation. EIC primarily invests in junior debt tranches of Collateralized Loan Obligations (CLOs), which are sophisticated financial instruments that pool together various loans and debt securities. This strategic focus on CLOs allows EIC to deliver robust income streams to its investors.
The company also has the flexibility to invest up to 20% of its total assets in CLO equity securities and related instruments. This diversification within its investment portfolio helps mitigate risk while seeking higher returns. EIC is externally managed by Eagle Point Income Management LLC, a specialist in CLO investments, which brings expert oversight and management to the company's portfolio.
Recent achievements include strong financial performance despite market volatility. The company has successfully navigated economic fluctuations, maintaining a resilient portfolio that continues to generate high-income yields. With a commitment to transparency and shareholder value, EIC regularly updates its investors through detailed reports and earnings calls.
Current projects involve further diversification of its investment portfolio and exploring new opportunities within the CLO market. By leveraging its deep industry expertise and prudent management, EIC aims to enhance its income-generating capabilities while maintaining a strong focus on capital preservation and appreciation.
Eagle Point Income Company Inc. stands out in the investment landscape due to its specialized focus on CLO investments and its structured approach to achieving high current income for its investors. With a solid track record and a clear strategic vision, EIC continues to be a significant player in the investment management sector.
Eagle Point Income Company (EIC) reported financial results for Q2 2021, highlighting a net investment income (NII) of $0.28 per share and a GAAP net income of $4.5 million, or $0.73 per share. The NAV per share stood at $17.38, reflecting a 3% increase from March 31, 2021. The company deployed $11.4 million in gross capital during the quarter. Significant subsequent developments include an estimated NAV range of $17.44 to $17.48 as of July 31 and a 33% increase in monthly distributions to $0.12 per share, effective October 2021.
Eagle Point Income Company (NYSE:EIC) announces a 33% increase in monthly distributions, raising it to $0.12 per share from $0.09. The distributions are set for October 29, November 30, and December 31, 2021, with record dates of October 12, November 10, and December 13, 2021, respectively. This declaration reflects strong financial performance and confidence in future earnings, according to CEO Thomas Majewski. The distributions will be funded by net investment income, and tax characteristics will be reported on Form 1099 at year-end.
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.
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