Filing Analysis
InPoint Commercial Real Estate Income, Inc. announced a cash distribution to its various classes of common stock for stockholders of record as of December 31, 2024.
📋 Key Facts
- Record Date: December 31, 2024
- Payment Date: On or about January 17, 2025
- Distribution Type: Cash distribution to common stock classes
- Class A Common Stock: $0.1042 net per share
- Class D Common Stock: $0.1007 net per share (after $0.0035 servicing fee)
- Class I Common Stock: $0.1042 net per share
- Class P Common Stock: $0.1042 net per share
- Class T Common Stock: $0.0922 net per share (after $0.0120 servicing fee)
The company is reporting its Net Asset Value (NAV) per share as of November 30, 2024. This is a routine regulatory disclosure providing a breakdown of assets and liabilities used to calculate the NAV for various classes of common stock.
📋 Key Facts
- Aggregate NAV per share as of November 30, 2024: $16.4394
- Total net asset value attributable to common stock: $166,333,000
- Commercial mortgage loans component: $590,050,000
- Real estate owned component: $43,627,000
- Cash and cash equivalents/restricted cash: $57,929,000
- Repurchase agreements - commercial mortgage loans (liability): ($387,323,000)
- Class P NAV per share: $16.4279
- Class I NAV per share: $16.4788
The Company has authorized a cash distribution to various classes of common stock and a quarterly dividend for its Series A Cumulative Redeemable Preferred Stock.
📋 Key Facts
- Record date for common stock distributions is November 30, 2024; payment expected on or about December 18, 2024.
- Class A, I, and P Common Stock will receive a net distribution of $0.1042 per share.
- Class D Common Stock will receive a net distribution of $0.1008 per share after servicing fees.
- Class T Common Stock will receive a net distribution of $0.0926 per share after servicing fees.
- A quarterly dividend of $0.421875 per share was declared for 6.75% Series A Cumulative Redeemable Preferred Stock (ICR PR A).
- The record date for the preferred stock dividend is December 15, 2024, with payment on December 30, 2024.
The Company announced the resignation of Mitchell A. Sabshon as CEO and Chairman, effective November 30, 2024. The Board has appointed Denise C. Kramer as the new CEO and Donald MacKinnon as Chairman, effective December 1, 2024.
🚩 Red Flags
- Sudden departure of the CEO/Chairman creates leadership transition risk.
📋 Key Facts
- Mitchell A. Sabshon is resigning as CEO and Chairman of the Board, effective November 30, 2024.
- Resignation stated to be for personal reasons and not due to any disagreement with management or operations.
- Donald MacKinnon (current President) appointed as Chairman of the Board, effective December 1, 2024.
- Denise C. Kramer appointed as CEO and Board member, effective December 1, 2024.
- New CEO Denise C. Kramer is currently President of Inland InPoint Advisor, LLC (the Company's Advisor).
The company has released its Net Asset Value (NAV) per share calculation as of October 31, 2024. This is a routine monthly update providing transparency into the valuation of the fund's underlying assets and equity classes.
📋 Key Facts
- Aggregate NAV per share as of October 31, 2024: $16.4698
- Total Net Asset Value attributable to common stock: $166,641,000
- Commercial mortgage loans component: $605,297,000
- Real estate owned component: $43,627,000
- Cash and cash equivalents/restricted cash: $63,253,000
- Repurchase agreements - commercial mortgage loans (liability): ($400,413,000)
- Class P NAV per share: $16.4584
- Class I NAV per share: $16.5087
InPoint Commercial Real Estate Income, Inc. has authorized a cash distribution to its various classes of common stock for stockholders of record as of October 31, 2024.
📋 Key Facts
- Record Date: October 31, 2024
- Payment Date: On or about November 19, 2024
- Distribution Type: Cash distribution to common stock classes
- Gross Distribution per share (all classes): $0.1042
- Class A Net Distribution: $0.1042
- Class D Net Distribution: $0.1007 (after $0.0035 servicing fee)
- Class I Net Distribution: $0.1042
- Class P Net Distribution: $0.1042
- Class T Net Distribution: $0.0922 (after $0.0120 servicing fee)
The Company's Board of Directors issued a formal response to an unsolicited mini-tender offer from West 4 Capital LP for up to 375,000 shares of Class P common stock at $7.65 per share. The Board recommends that stockholders do not accept the offer.
🚩 Red Flags
- Unsolicited mini-tender offers can sometimes be used in predatory tactics or to create market volatility/uncertainty regarding share price and control.
📋 Key Facts
- Unsolicited mini-tender offer received from West 4 Capital LP (unaffiliated third party).
- Offer size: Up to 375,000 shares of Class P common stock.
- Offer price: $7.65 per share.
- Board recommendation: Stockholders should NOT accept the offer.
- Filing date of event: October 24, 2024.
The company has released its Net Asset Value (NAV) per share calculation as of September 30, 2024. This is a routine regulatory disclosure providing a breakdown of assets and liabilities used to determine the value of common stock classes.
🚩 Red Flags
- None identified in this routine NAV disclosure.
📋 Key Facts
- Aggregate NAV per share as of September 30, 2024: $16.4992
- Total net asset value attributable to all classes of common stock: $166,939,000
- Commercial mortgage loans represent the largest asset component at $647,280,000.
- Repurchase agreements - commercial mortgage loans total ($418,765,000).
- The company continues to suspend sales of Class S shares as previously announced on January 30, 2023.
- NAV per share varies by class: Class T is highest at $16.6247; Class A is $16.5389.
InPoint Commercial Real Estate Income, Inc. has announced a cash distribution to its various classes of common stock for stockholders of record as of September 30, 2024.
📋 Key Facts
- Record Date: September 30, 2024
- Payment Date: On or about October 17, 2024
- Distribution Type: Cash distribution to common stock classes
- Class A Common Stock Net Distribution: $0.1042 per share
- Class D Common Stock Net Distribution: $0.1008 per share (after $0.0034 servicing fee)
- Class I Common Stock Net Distribution: $0.1042 per share
- Class P Common Stock Net Distribution: $0.1042 per share
- Class T Common Stock Net Distribution: $0.0926 per share (after $0.0116 servicing fee)
The company is reporting its Net Asset Value (NAV) per share calculation as of August 31, 2024. This is a routine regulatory disclosure providing a breakdown of assets and liabilities for various classes of common stock.
📋 Key Facts
- Aggregate NAV per share as of August 31, 2024: $16.4829
- Total net asset value attributable to common stock: $166,741,000
- Commercial mortgage loans component: $660,041,000
- Repurchase agreements - commercial mortgage loans (liability/offset): ($418,765,000)
- Total outstanding common shares: 10,116,000
- NAV per share varies by class, ranging from $16.4720 (Class P) to $16.6041 (Class T).
InPoint Commercial Real Estate Income, Inc. held its 2024 Annual Meeting of Stockholders on September 12, 2024. The meeting resulted in the election of five directors and the ratification of KPMG LLP as the company's independent auditor.
📋 Key Facts
- Annual Meeting held on September 12, 2024.
- Five individuals elected to the Board: Mitchell A. Sabshon, Donald MacKinnon, Norman A. Feinstein, Cynthia Foster Curry, and Robert N. Jenkins.
- KPMG LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
The company furnished a presentation intended for its annual meeting of stockholders on September 12, 2024. This is a standard regulatory disclosure under Item 7.01 to provide supplemental information to shareholders.
📋 Key Facts
- The filing was made on September 12, 2024.
- The company furnished an investor presentation (Exhibit 99.1) for its annual meeting of stockholders.
- Information provided under Item 7.01 is considered 'furnished' but not 'filed', meaning it is not subject to the same liability as a formal SEC filing.
The Company announced the declaration and payment of a quarterly dividend on its 6.75% Series A Cumulative Redeemable Preferred Stock.
📋 Key Facts
- Dividend amount: $0.421875 per share.
- Dividend type: Quarterly dividend on 6.75% Series A Cumulative Redeemable Preferred Stock (NYSE: ICR PR A).
- Record date: September 15, 2024.
- Payment date: September 30, 2024.
InPoint Commercial Real Estate Income, Inc. has announced a cash distribution to its various classes of common stock for stockholders of record as of August 31, 2024.
📋 Key Facts
- Record Date: August 31, 2024
- Payment Date: On or about September 18, 2024
- Distribution Type: Cash distribution to common stock classes
- Class A Net Distribution: $0.1042 per share
- Class D Net Distribution: $0.1007 per share (after $0.0035 servicing fee)
- Class I Net Distribution: $0.1042 per share
- Class P Net Distribution: $0.1042 per share
- Class T Net Distribution: $0.0922 per share (after $0.0120 servicing fee)
The company is reporting its monthly Net Asset Value (NAV) per share as of July 31, 2024. This is a routine regulatory disclosure providing a breakdown of assets and liabilities used to calculate the NAV for various classes of common stock.
📋 Key Facts
- Aggregate NAV per share as of July 31, 2024: $16.5260
- Total net asset value attributable to common stock: $167,177,000
- Commercial mortgage loans component: $659,685,000
- Repurchase agreements - commercial mortgage loans (liability/offset): ($418,765,000)
- Class P NAV per share: $16.5146
- Class I NAV per share: $16.5632
- The company continues to suspend the sale of Class S shares as previously announced on January 30, 2023.
InPoint Commercial Real Estate Income, Inc. has announced a cash distribution to its various classes of common stock for stockholders of record as of July 31, 2024.
📋 Key Facts
- Record Date: July 31, 2024
- Payment Date: On or about August 19, 2024
- Distribution Type: Cash distribution to common stock classes
- Class A Common Stock Net Distribution: $0.1042 per share
- Class D Common Stock Net Distribution: $0.1006 per share (after $0.0036 servicing fee)
- Class I Common Stock Net Distribution: $0.1042 per share
- Class P Common Stock Net Distribution: $0.1042 per share
- Class T Common Stock Net Distribution: $0.0921 per share (after $0.0121 servicing fee)
The company has released its Net Asset Value (NAV) per share calculation as of June 30, 2024. The aggregate NAV per share for all classes of common stock was determined to be $16.5986.
📋 Key Facts
- As of June 30, 2024, the total net asset value attributable to common stock is $167,911,000.
- The aggregate NAV per share for all classes of common stock is $16.5986.
- Commercial mortgage loans represent the largest component of assets at $688,884,000.
- Repurchase agreements - commercial mortgage loans account for a significant liability/offset of ($422,944,000).
- The company continues to suspend the sale of Class S shares as previously announced on January 30, 2023.
InPoint Commercial Real Estate Income, Inc. has announced a cash distribution to its various classes of common stock for stockholders of record as of June 30, 2024.
📋 Key Facts
- Record Date: June 30, 2024
- Payment Date: On or about July 17, 2024
- Distribution Method: Cash
- Class A Common Stock Net Distribution: $0.1042 per share
- Class D Common Stock Net Distribution: $0.1008 per share (after $0.0034 fee)
- Class I Common Stock Net Distribution: $0.1042 per share
- Class P Common Stock Net Distribution: $0.1042 per share
- Class T Common Stock Net Distribution: $0.0925 per share (after $0.0117 fee)
The company has released its Net Asset Value (NAV) per share calculation as of May 31, 2024. The aggregate NAV per common stock is reported at $16.5719.
📋 Key Facts
- As of May 31, 2024, total net asset value attributable to all classes of common stock was $167,641,000.
- Aggregate NAV per share for common stock is $16.5719.
- Commercial mortgage loans represent the largest component of assets at $688,579,000.
- Repurchase agreements - commercial mortgage loans total $(414,743,000).
- The company has not sold any Class S shares as of May 31, 2024.
InPoint Commercial Real Estate Income, Inc. has announced the authorization of cash distributions to its various classes of common and preferred stock. The distributions are scheduled for payment in June 2024.
📋 Key Facts
- Record date for common stock distribution is May 31, 2024; payable on or about June 18, 2024.
- Class A, I, and P Common Stock will receive a net distribution of $0.1042 per share.
- Class D Common Stock will receive a net distribution of $0.1006 per share after servicing fees.
- Class T Common Stock will receive a net distribution of $0.0921 per share after servicing fees.
- A quarterly dividend of $0.421875 per share was declared for 6.75% Series A Cumulative Redeemable Preferred Stock (ICR PR A).
- Preferred stock record date is June 15, 2024; payable on June 28, 2024.
The company has released its Net Asset Value (NAV) per share calculation as of April 30, 2024. This is a routine regulatory disclosure providing a breakdown of assets and liabilities used to determine the value of common stock classes.
📋 Key Facts
- Aggregate NAV per share as of April 30, 2024: $16.6094
- Total net asset value attributable to common stock: $168,021,000
- Commercial mortgage loans component: $697,620,000
- Repurchase agreements - commercial mortgage loans (liability): ($435,439,000)
- Class P NAV per share: $16.5986
- Class I NAV per share: $16.6465
- The Board previously approved the suspension of Class S share sales on January 30, 2023.
InPoint Commercial Real Estate Income, Inc. announced a cash distribution to its various classes of common stock for stockholders of record as of April 30, 2024.
📋 Key Facts
- Record Date: April 30, 2024
- Payment Date: On or about May 17, 2024
- Gross distribution amount per share for all classes: $0.1042
- Class A, I, and P Common Stock will receive the full gross amount of $0.1042.
- Class D Common Stock net distribution: $0.1007 (after $0.0035 servicing fee).
- Class T Common Stock net distribution: $0.0925 (after $0.0117 servicing fee).
The company released its Net Asset Value (NAV) calculation as of March 31, 2024, and issued a portfolio update letter to stockholders. The filing primarily serves to disclose the breakdown of assets and liabilities contributing to the aggregate NAV per share.
🚩 Red Flags
- None identified in this specific filing.
📋 Key Facts
- As of March 31, 2024, total Net Asset Value (NAV) attributable to common stock was $168,488,000.
- Aggregate NAV per share as of March 31, 2024, was $16.6556.
- Total commercial mortgage loans stood at $697,464,000.
- The company has not sold any Class S shares of common stock in its public offering.
- Repurchase agreements - commercial mortgage loans totaled ($435,439,000).
- Cash and cash equivalents/restricted cash amounted to $60,396,000.
InPoint Commercial Real Estate Income, Inc. has announced a cash distribution to its various classes of common stock for shareholders of record as of March 31, 2024.
📋 Key Facts
- Record Date: March 31, 2024
- Payment Date: On or about April 17, 2024
- Distribution Type: Cash distribution to common stockholders
- Class A Common Stock Net Distribution: $0.1042 per share
- Class D Common Stock Net Distribution: $0.1006 per share (after $0.0036 servicing fee)
- Class I Common Stock Net Distribution: $0.1042 per share
- Class P Common Stock Net Distribution: $0.1042 per share
- Class T Common Stock Net Distribution: $0.0920 per share (after $0.0122 servicing fee)
The company is reporting its Net Asset Value (NAV) per share as of February 29, 2024. This is a routine monthly disclosure providing a breakdown of assets and liabilities used to calculate the NAV for various classes of common stock.
🚩 Red Flags
- None identified in this routine valuation filing.
📋 Key Facts
- Aggregate NAV attributable to common stock: $170,088,000 as of February 29, 2024.
- Total aggregate NAV per share: $16.8138.
- Commercial mortgage loans component: $701,228,000.
- Repurchase agreements - commercial mortgage loans (liability/offset): ($437,364,000).
- Class P NAV per share: $16.8029.
- Class I NAV per share: $16.8508.
- The company continues to suspend the sale of Class S shares as previously announced on January 30, 2023.
The Company announced a cash distribution to various classes of common stock and a quarterly dividend for its Series A Cumulative Redeemable Preferred Stock. The distributions are scheduled to be paid in mid-to-late March 2024.
📋 Key Facts
- Record date for common stock distributions is February 29, 2024; payable on or about March 19, 2024.
- Class A, I, and P Common Stock will receive a net distribution of $0.1042 per share.
- Class D Common Stock will receive a net distribution of $0.1008 per share (after $0.0034 servicing fee).
- Class T Common Stock will receive a net distribution of $0.0927 per share (after $0.0115 servicing fee).
- 6.75% Series A Cumulative Redeemable Preferred Stock dividend of $0.421875 per share is payable March 29, 2024.
- Record date for preferred stock dividend is March 15, 2024.
InPoint Commercial Real Estate Income, Inc. released its Net Asset Value (NAV) calculation for the period ending January 31, 2024. The filing provides a breakdown of assets and liabilities used to determine the NAV per share across various share classes.
📋 Key Facts
- As of January 31, 2024, total net asset value attributable to common stock was $170,597,000.
- Aggregate NAV per share for all common stock classes was $16.8641.
- Commercial mortgage loans represent the largest asset component at $700,892,000.
- Repurchase agreements - commercial mortgage loans account for a reduction of ($437,364,000).
- The company has not sold any Class S shares as of the reporting date.
- Class P shares reported the highest NAV per share at $16.8533.
The Company announced a cash distribution to its various classes of common stock for stockholders of record as of January 31, 2024.
📋 Key Facts
- Record Date: January 31, 2024
- Payment Date: On or about February 20, 2024
- Distribution Type: Cash distribution to common stockholders
- Class A Common Stock Net Distribution: $0.1042 per share
- Class D Common Stock Net Distribution: $0.1006 per share (after $0.0036 servicing fee)
- Class I Common Stock Net Distribution: $0.1042 per share
- Class P Common Stock Net Distribution: $0.1042 per share
- Class T Common Stock Net Distribution: $0.0919 per share (after $0.0123 servicing fee)
The company provided a detailed breakdown of cash distributions paid to common and preferred stockholders for the 2023 fiscal year, including tax characterization.
📋 Key Facts
- Total common stock cash distributions for 2023: approximately $12.6 million.
- Total preferred stock cash distributions for 2023: approximately $6.0 million.
- Common stock distributions were characterized as 53.2% ordinary dividends and 46.8% nondividend distributions (return of capital).
- Preferred stock distributions were treated entirely as ordinary dividends for income tax purposes.
- The filing provides a monthly breakdown of distributions per share across multiple classes: Class P, A, D, I, T common stocks, and Series A Preferred Stock.
The company is reporting its Net Asset Value (NAV) per share as of December 31, 2023. This is a routine regulatory disclosure providing a breakdown of assets and liabilities to determine the value attributable to each class of common stock.
🚩 Red Flags
- None identified in this routine NAV disclosure.
📋 Key Facts
- Aggregate NAV per share for all common stock classes: $16.8995
- Total net asset value attributable to common stock: $170,955,000
- Commercial mortgage loans component: $727,586,000
- Repurchase agreements - commercial mortgage loans: ($457,438,000)
- Total outstanding shares (common stock): 10,116,000
- Class P NAV per share: $16.8887
- Class A NAV per share: $16.9375
- Class T NAV per share: $16.9999
- Class D NAV per share: $16.9316
- Class I NAV per share: $16.9362