Eagle Point Credit Co Inc. (NYSE:ECC), a Connecticut-based investment company with a market capitalization of $915 million, disclosed an estimated range for its net asset value (NAV) per share as of November 30, 2024.
In a regulatory filing with the Securities and Exchange Commission on Tuesday, the company estimated the NAV per share of its common stock to be between $8.40 and $8.50. According to InvestingPro data, the company has demonstrated strong performance with an 18.3% year-to-date return.
The announcement comes as part of a current report filed with the SEC, detailing the unaudited estimate of the company's NAV. Eagle Point Credit, which operates under the ticker ECC on the New York Stock Exchange, is known for providing investors with access to credit investment opportunities.
The company's portfolio includes a variety of preferred stocks and notes, such as the 6.50% Series C Term Preferred Stock due 2031 (NYSE:ECCC), 6.75% Series D Preferred Stock (NYSE:ECC PRD), 8.00% Series F Term Preferred Stock due 2029 (NYSE:ECCF), 6.6875% Notes due 2028 (NYSE:ECCX), 6.75% Notes due 2031 (NYSE:ECCW), and 5.375% Notes due 2029 (NYSE:ECCV). InvestingPro analysis reveals that ECC maintains an impressive 19.7% dividend yield and has sustained dividend payments for 11 consecutive years.
Eagle Point Credit's disclosure of its NAV per share provides investors with a snapshot of the company's financial position as of November 30, 2024, and is a common practice among investment companies to offer transparency regarding their value. The NAV is a key metric used by investment companies to represent the per-share market value of their assets, minus their liabilities.
The information provided in the SEC filing is based on management's unaudited estimates and is intended to give shareholders and potential investors insight into the company's performance. Eagle Point Credit's Chief Financial Officer and Chief Operating Officer, Kenneth P. Onorio, signed off on the filing, affirming the company's compliance with SEC reporting requirements.
Investors often monitor NAV estimates as they can influence market perceptions and the trading of a company's shares. It should be noted that the reported NAV is an estimate and is subject to change based on the company's financial performance and market conditions. InvestingPro subscribers can access additional insights, including 7 key investment tips and a comprehensive Pro Research Report, which provides deep-dive analysis of ECC's financial health and market position.
This news is based on a press release statement filed with the SEC and does not include any marketing or promotional content.
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