Eagle Point Income Company (EIC) Reports Q3 EPS of $0.28

Eagle Point Income Company (NYSE: EIC) reported Q3 EPS of $0.28.

THIRD QUARTER 2020 HIGHLIGHTS

• Net investment income (“NII”) of $0.28 per weighted average common share.1
• NAV per common share of $14.84 as of September 30, 2020.
• Third quarter 2020 GAAP net income (inclusive of unrealized mark-to-market gains) of $6.9 million, or $1.13 per weighted average common share.
• Weighted average effective yield of the Company’s collateralized loan obligation (“CLO”) debt and equity portfolio (based on amortized cost) was 8.84% as of September 30, 2020.
• Deployed $3.6 million in gross capital in the third quarter of 2020.

“We are very pleased with the Company’s third quarter performance. The Company generated net investment income of $0.28 per share, which is above our distribution level, and our portfolio’s value continued to increase,” said Thomas Majewski, Chairman and Chief Executive Officer. “All of the investments in our portfolio that were scheduled to make payments in October did so. As the benefit of LIBOR floors became more pronounced in our CLO equity portfolio, total portfolio collections in October exceeded our July tally.”

For earnings history and earnings-related data on Eagle Point Income Company (EIC) click here.

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