Eagle Point Credit reports Q1 EPS 29c, consensus 34c

Reports Q1 NAV per common share of $9.16. “The Company had a solid start to the year, deploying $131.1 million in net capital into new investments that we expect to generate attractive risk-adjusted returns and enhance our net investment income moving forward,” said Thomas Majewski, CEO. “For the first quarter, we generated net investment income and realized capital gains, excluding non-recurring expenses, of $0.31 per share. In addition, we strengthened our balance sheet by issuing common stock at a premium to NAV as well as through issuing our new 8.00% Series F Term Preferred Stock. Looking ahead, we expect to further grow our portfolio through attractive CLO equity investments in both the new issue and secondary markets and improve our portfolio’s expected yield with an increase in refinancing and reset activity.”