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Closed End Fund Debt
EIM is a non-diversified, closed-end management investment company traded on the New York Stock Exchange (NYSE). EIM's investment goal is to generate high current income and capital appreciation by investing in a diversified portfolio of equity and debt securities issued by real estate companies, including mortgage-backed securities and other real estate-related investments.
The fund intends to achieve its investment objective by investing primarily in a diversified portfolio of equity and debt securities issued by real estate companies, including mortgage-backed securities and other real estate-related investments. It invests in various sectors, including mortgage-backed and asset-backed securities, real estate investment trusts (REITs), real estate management, and development companies, and other real estate-related industries.
Under normal circumstances, the fund invests at least 80% of its managed assets in the real estate sector. Up to 30% of its assets can be invested in securities of real estate companies, including REITs.
As of March 2023, the fund's top holdings are Federal National Mortgage Association (2.38%), Granite Point Mortgage Trust Inc. (2.14%), and Apollo Commercial Real Estate Finance Inc. (2.04%). The fund's total assets are valued at USD 222.54 million, and its asset under management (AUM) is USD 284.25 million.
In terms of its distribution policy, the fund intends to distribute at least 90% of its ordinary income and net capital gains, if any, to its shareholders semi-annually.
As of March 10, 2023, EIM's market price is $19.51 per share, with a high and low of $20.35 and $17.17, respectively, in the past 52 weeks. Its trailing 12-month dividend yield is 10.07%.
EIM has received numerous analyst ratings, with JP Morgan rated it as overweight on December 9, 2022, and Wells Fargo rated it as overweight on December 30, 2022.
Earnings history:
EIM's earnings have fluctuated over the years. In 2018, earnings increased by 2.34%, while in 2019 and 2020, they decreased slightly.
Financials as of February 24, 2023
The fund's 50-day moving average is USD 19.82, and its 200-day moving average is USD 19.47, with a PE ratio of 13.38. The fund's market capitalization is USD 449.10 million. The fund's latest earnings per share (EPS) was USD -0.04 recorded on February 13, 2023, with a market capitalization of USD 449.10 million.
Conclusively, EIM is a closed-end management investment company that invests in a diversified portfolio of equity and debt securities issued by real estate companies, including mortgage-backed securities and other real estate-related investments.