Why Eagle Point Credit Should Cut Distributions, And Probably Won't [Seeking Alpha]
Eagle Point Credit Company Inc. (ECC)
NASDAQ:AMEX Investor Relations:
eaglepointcreditcompany.com/investor-relations/default.aspx
Company Research
Source: Seeking Alpha
Why Eagle Point Credit Should Cut Distributions, And Probably Won't Summary ECC's 15.3% dividend is unsustainable. If the payouts aren't cut, NAV will continue to fall. If they cut, ECC's premium will fall. Either way, 20% losses are inevitable. If ECC fails to cut, long-term losses could be much worse as its NAV continues to decline due to lower interest rates hurting the CLO market, especially ECC's equity-CLO portfolio. A sudden loss in ECC's portfolio in 2Q is just a prelude to more pain that is likely to come soon. Yield-hungry investors have praised Eagle Point Credit Company ( But, as with other unsustainably high yielding stocks and funds, the music will stop eventually—and the longer management postpones the pain, the more acute the pain will be when it arrives. I do not believe ECC will cut distributions anytime soon, which is a reason for extra concern. Signs from the company’s NII and total portfolio performance indicate structural challenges that, in addition to growing s
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ECC
News
- Eagle Point Credit Company Inc. Prices $100 Million Public Offering of NotesBusiness Wire
- Eagle Point Credit Company Inc. Announces Offering of NotesBusiness Wire
- Eagle Point Credit: Is This 21% Yield Sustainable? [Seeking Alpha]Seeking Alpha
- Eagle Point Institutional Income Fund Generates 9.9% Annual Net Return and Exceeds $150 Million in Assets [Yahoo! Finance]Yahoo! Finance
- Eagle Point Credit Company Inc. Announces Third Quarter 2024 Financial ResultsBusiness Wire
ECC
Sec Filings
- 12/16/24 - Form 497AD
- 12/16/24 - Form CERT
- 12/10/24 - Form 8-A12B
- ECC's page on the SEC website