Eagle Point Credit reports Q3 EPS 24c, consensus 23c

Reports Q3 NAV per share $7.00. “During the third quarter, we proactively optimized our portfolio by deploying nearly $200 million into new attractive investments and by reducing the debt cost of our CLO equity investments through completing 11 resets and 16 refinancings,” said Thomas Majewski, CEO. “These actions are designed to enhance our long-term earnings power and our ability to capture value as market conditions evolve. We also continued our portfolio rotation strategy, exiting a number of investments to move into higher earning opportunities.”