Source: Investing Posted 08/11/2024, 00:57
In a recent 8-K filing with the Securities and Exchange Commission, Eagle Point Credit Co. Inc. (NYSE:ECC) disclosed its unaudited estimate of net asset value (NAV) per share and announced an upcoming dividend for its common stock.
The company, headquartered in Greenwich, Connecticut, estimated net asset value per share as of October 31, 2024 at between $8.55 and $8.65. This valuation serves as an indicator of a company’s financial health and its underlying value. Furthermore, Eagle Point Credit announced a regular monthly dividend of $0.14 per share on its common stock.
The company will pay these dividends on January 31, 2025, February 28, 2025, and March 31, 2025. The earnings registration dates are January 13, 2025, February 10, 2025, and March 11, 2025 respectively.
The company’s portfolio of investments and financial instruments includes common stocks, fixed-term preferred shares maturing in 2029 and 2031, and bonds with different maturity dates and interest rates. Investors trade all these securities on the New York Stock Exchange under different trading symbols.
Eagle Point Credit Co Inc. reported unaudited estimates of key financial metrics in a recent filing with the Securities and Exchange Commission. The estimated net asset value (NAV) per share of the Company’s common stock as at September 30, 2024 was between $8.39 and $8.49, with net investment income for the same quarter estimated between $0.27 and $0.31 per share.
Realized losses for the same quarter were estimated between $0.08 and $0.04 per share. The company also reported an increase in recurring cash flows to $71.4 million during the second-quarter earnings call.
despite some realized capital losses.
More than $135 million was invested in new investments during this period. Eagle Point Credit has launched an unlisted permanent convertible preferred share offering.
raising $9 million, as part of its plan to rotate proceeds from sales CLO BB to higher yielding CLO stocks.
Eagle Point Credit Co inc recent financial disclosures are in line with many key metrics and insights from Investing.
The company’s commitment to paying regular dividends stands out in Investing’s advice, which highlights that ECC “pays significant dividends to shareholders” and “has maintained dividend payments for 11 consecutive years.”
The current dividend yield of 19.92% further emphasizes the appeal of the investment, particularly in the current market environment.
Investors should also consider the company’s estimated NAV range of $8.55 to $8.65 per share as of October 31, 2024, alongside the current market price of $9.64.
indicating that the stock is Trading at a premium to its net asset value. This bonus may be justified by the company’s strong dividend policy and recent financial performance.
with revenue growing by 25.44% over the past twelve months from the second quarter of 2024.
Investing data also reveals that ECC has a price-to-earnings ratio of 7.89.
suggesting that a stock may be undervalued relative to its earnings. This could be interesting to investors looking for value.
especially when combined with the company’s profitability over the past twelve months, as highlighted by another tip from Investing.
