Eagle Point Income Company (EIC) has reported a robust first quarter for 2024, with a notable increase in net asset value (NAV), a rise in portfolio cash flows,

Eagle Point Income Company (EIC) Reports Strong First Quarter Performance


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Eagle Point Income Company (EIC) has reported a robust first quarter for 2024, with a notable increase in net asset value (NAV), a rise in portfolio cash flows, and a significant strengthening of the balance sheet. The company's NAV per share increased by 5% from the end of the previous year, reaching $15.12.

Key Financial Highlights:

  • Net Investment Income: EIC reported net investment income and realized capital gains of $0.56 per share.
  • Recurring Cash Flows: The company comfortably exceeded its regular common distributions and operating expenses with recurring cash flows of $10.7 million or $0.88 per share.
  • NAV Growth: NAV per share increased by 5% to $15.12 as of March 31, 2024.
  • Capital Raise: EIC raised additional capital through a preferred stock offering and at-the-market (ATM) equity offerings.

With a strong performance in the first quarter and a solid balance sheet, EIC is well-positioned for continued success in the coming months.

CTA: Assess a company's true profitability and compare it to its competitors with the Owner Earnings API. Find out more here.

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