Eagle Point Income Co Inc. (NYSE:EIC), a Delaware-incorporated company with a market capitalization of $302 million, disclosed its unaudited year-end net asset value (NAV) and quarterly earnings in a recent 8-K filing with the Securities and Exchange Commission. As of December 31, 2024, the company estimated its NAV per share to be in the range of $14.94 to $15.04. According to InvestingPro data, the stock is currently trading near its 52-week high of $16.75, reflecting strong investor confidence.
In addition to the NAV, Eagle Point Income provided an estimate of its net investment income and realized gains or losses for the quarter ending December 31, 2024. The company's management reported that these figures ranged between $0.52 and $0.56 per share of common stock. InvestingPro analysis reveals impressive financial metrics, including a 73% revenue growth and a P/E ratio of 8.57, suggesting strong operational performance. The company maintains a significant dividend yield of 14.75% and has raised its dividend for three consecutive years.
Eagle Point Income, which is headquartered in Greenwich, Connecticut, is known for its preferred stock offerings. The company has several series of preferred stock listed on the New York Stock Exchange, including the 5.00% Series A Term Preferred Stock due 2026 (NYSE:EICA), the 7.75% Series B Term Preferred Stock due 2028 (NYSE:EICB), and the 8.00% Series C Term Preferred Stock due 2029 (NYSE:EICC).
The financial information provided in the filing gives shareholders and potential investors a glimpse into the company's performance as of the end of the previous fiscal year. The disclosed figures are unaudited, and the final audited results will be released at a later date. The company's Chief Financial Officer and Chief Operating Officer, Kenneth P. Onorio, signed off on the report.
This recent filing is based on a press release statement and is intended to keep investors informed of Eagle Point Income's financial position as it stands at the close of the fiscal year. With an "GREAT" overall financial health score from InvestingPro, the company demonstrates robust fundamentals.
The company's stock performance and future outlook remain to be seen as it continues its operations in the current financial year. For deeper insights into EIC's valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Eagle Point Income Company reported robust financial results alongside strategic advancements. The company disclosed an estimated net asset value (NAV) per share of its common stock as of November 2024, ranging between $15.00 and $15.10. This estimated NAV provides a snapshot of the firm's financial health and is a crucial metric for investors and analysts.
Eagle Point Income Company also reported a strong third quarter in 2024, with net investment income and realized gains of $9.9 million, or $0.57 per share, an increase from $0.44 per share in the previous quarter. Despite a slight decline in the company's NAV, consistent monthly distributions have been maintained, indicating the resilience of their portfolio.
The company's strategic moves in the junior CLO debt and equity markets contributed to a robust average yield and low default exposure. Eagle Point Income deployed approximately $90 million in investments in Q3, with an average yield of 12%.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.