Buy OFS Capital Term Preferred (OCCIN), Sell Eagle Point (ECCF) Term Preferred [Seeking Alpha]
OFS Capital Corporation - Closed End Fund (OFS)
Last ofs capital corporation - closed end fund earnings: 3/13 08:00 am
Check Earnings Report
US:NASDAQ Investor Relations:
ir.ofscapitalcorp.com
Company Research
Source: Seeking Alpha
OFS Capital term preferred stock, symbol OCCIN, currently offers a 9.23% yield to maturity (annualized return), clearly the best in the sector. On the other hand, Eagle Point Credit's new term preferred, symbol ECCF, has a YTM of only 7.52%, worst in the sector, trades over par, and has the worst taxation. The article compares OCCIN and ECCF to other term preferred stocks and baby bonds in the sector, demonstrating that ECCF is around $1.20 over-priced while OCCIN is undervalued. OFS Capital & Eagle Point Credit OFS Capital ( NASDAQ: OFS ) and Eagle Point Credit ( NYSE: ECC ) are both closed end funds (CEFs) that invest in CLO equity tranches. The third fund with same profile as ECC and OFS is Oxford Lane Capital ( OXLC ). As CEFs, they are only allowed to take on leverage of 50%. This keeps their preferred stocks and baby bonds very safe. If the value of their assets should drop significantly such that leverage broaches 50%, they must issue more common stock, bringing in c
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OFS
News
- OFS Capital Corporation Announces Date for Its First Quarter 2024 Earnings Release and Conference CallBusiness Wire
- OFS Capital Co. (NASDAQ: OFS) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- OFS Capital Corporation (NASDAQ:OFS) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- OFS Capital Co. (NASDAQ: OFS) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- OFS Capital Corp Reports Mixed Q4 and Full Year 2023 Results; NAV Declines Amid Investment ... [Yahoo! Finance]Yahoo! Finance
OFS
Earnings
- 3/4/24 - Miss
OFS
Sec Filings
- 4/24/24 - Form DEFA14A
- 4/24/24 - Form DEF
- 4/24/24 - Form ARS
- OFS's page on the SEC website