Fortress income fund news
Fortress Income Fund is a publicly traded business development company (BDC) that focuses on providing financing solutions to middle-market companies. Here are some recent news and updates about Fortress Income Fund:
Recent News:
- Q4 2022 Earnings Release: Fortress Income Fund announced its Q4 2022 earnings results on February 22, 2023. The company reported net investment income of $14.4 million, or $0.23 per share, and net asset value (NAV) of $14.45 per share.
- Portfolio Company Update: In January 2023, Fortress Income Fund announced that its portfolio company, Advanced Drainage Systems (ADS), had completed a successful initial public offering (IPO) and began trading on the New York Stock Exchange (NYSE) under the ticker symbol "WMS".
- New Investment: In December 2022, Fortress Income Fund announced a new investment in a leading provider of specialty chemicals and materials, which was not disclosed publicly.
Recent Developments:
- Strategic Review: In November 2022, Fortress Income Fund announced that it was conducting a strategic review of its business and operations to identify opportunities for growth and improvement.
- Board Changes: In October 2022, the company announced the appointment of a new independent director, Michael J. Murphy, to its board of directors.
- Share Repurchase Program: In September 2022, Fortress Income Fund announced a share repurchase program to purchase up to 5% of its outstanding shares.
Financial Performance:
- Net Investment Income: Fortress Income Fund has consistently generated net investment income, with a trailing 12-month net investment income yield of around 8%.
- Net Asset Value: The company's NAV has been relatively stable, with a one-year return of around 5%.
- Dividend Yield: Fortress Income Fund has a dividend yield of around 7%, which is attractive compared to other BDCs.
Investor Presentation:
Fortress Income Fund regularly updates its investor presentation, which provides an overview of the company's investment strategy, portfolio composition, and financial performance. The latest presentation can be found on the company's website.
Analyst Coverage:
Fortress Income Fund is covered by several analysts, including those from firms such as Raymond James, Stifel, and Janney Montgomery Scott. Analyst reports and ratings can be found on the company's website or through financial databases such as Thomson Reuters or Bloomberg.
Please note that the information provided is subject to change and may not be up-to-date. It is always a good idea to check the company's website or contact its investor relations department for the latest information.