Eagle Point Credit reports Q4 EPS 24c, consensus 27c

“We remain proactive in managing our portfolio and balance sheet,” said Thomas P. Majewski, Chief Executive Officer. “During the fourth quarter, we reset 16 and refinanced 2 of the Company’s CLO investments, lengthening the weighted average remaining reinvestment periods of the reset CLOs and lowering the cost of debt financing in all 18 CLOs. By exercising our majority rights, we are laying the foundation for the portfolio to further enhance its net investment income in 2025 and beyond.” “We have also been active in managing the Company’s balance sheet through our ‘at-the-market’ program by selectively issuing common stock at a premium to NAV, which generated $0.05 per share of NAV accretion,” added Mr. Majewski. “In addition, we have continued issuance of our Series D and Series AA/AB perpetual Net asset value per common share of $8.38 as of December 31, compared to $8.44 as of September 30.