Eagle Point Credit Q4 earnings slip from Q3; makes $34M in new investments [Seeking Alpha]
Eagle Point Credit Company Inc. (ECC)
NASDAQ:AMEX Investor Relations:
eaglepointcreditcompany.com/investor-relations/default.aspx
Company Research
Source: Seeking Alpha
"During the fourth quarter, we deployed $34M into new investments. The secondary market CLO equity we purchased during the quarter had a weighted average effective yield of 22.9%, further positioning the portfolio to enhance net investment income over time," said CEO Thomas P. Majewski. Q4 net investment income and realized capital gains of $0.33 per share, slipped from $0.35 in Q3 an increased from $0.29 per share of NII less realized capital losses in Q4 2022. Eagle Point Credit ( ECC ) deployed $34M in net capital into collateralized loan obligation equity, CLO debt, loan accumulation facilities, and other investments. In Q3 2023, ECC made $119M in net new investments. The weighted average effective yield of new CLO equity investments made by ECC during Q4, which includes a provision for credit losses, was 22.9% as measured at the time of investment, compared with 20.3% in Q3. As of Dec. 31, 2023, ECC's weighted average effective yield of the company's CLO equity portfolio
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ECC
News
- Bargain 8.80% Eagle Point Term Preferred Stock: Antidote To Reinvestment Risk [Seeking Alpha]Seeking Alpha
- Eagle Point Credit: Earn A High Yield From CLOs [Seeking Alpha]Seeking Alpha
- Eagle Point Credit Company Inc. (NYSE:ECC) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Eagle Point Credit Company Inc. Announces Fourth Quarter and Year-End 2023 Financial Results [Yahoo! Finance]Yahoo! Finance
- Eagle Point Credit Company Inc. Announces Fourth Quarter and Year-End 2023 Financial ResultsBusiness Wire
ECC
Sec Filings
- 4/23/24 - Form 40-APP/A
- 4/15/24 - Form 497AD
- 4/11/24 - Form 8-K
- ECC's page on the SEC website