InPoint Commercial Real Estate Income, Inc., a Maryland-based real estate investment trust, has disclosed its net asset value (NAV) per share as of October 31, 2024. The company, which is listed on the New York Stock Exchange under the ticker ICR PR A, announced that the NAV per share was calculated in accordance with the valuation guidelines approved by its board of directors and is available on its website.
The NAV reflects the value of the company's assets minus its liabilities and is a critical measure for investors to assess the company's financial health and performance. As of October 31, 2024, InPoint's total net asset value attributable to common stock stood at approximately $166.6 million, with an aggregate NAV per share of $16.4698.
The company's assets primarily consist of commercial mortgage loans valued at $605.3 million, real estate owned worth $43.6 million, and cash and equivalents including restricted cash totaling $63.3 million. Other assets added up to $5.8 million. Liabilities include repurchase agreements on commercial mortgage loans amounting to $400.4 million, loan participations sold totaling $56.3 million, and other liabilities and payables.
InPoint has various classes of common stock, and the NAV per share for each class as of October 31, 2024, ranges from $16.4584 for Class P shares to $16.5988 for Class T shares. The company had not sold any Class S shares as of that date.
The filing also notes that on January 30, 2023, InPoint's board unanimously approved the suspension of the sale of shares in the primary portion of its public offering and through its distribution reinvestment plan. This decision was made in response to market conditions and the company's strategic considerations.
The determination of NAV per share is an essential practice for REITs, providing transparency to shareholders about the value of their investment. InPoint's announcement serves as an update to investors and the market on the company's valuation as of the end of October 2024. This information is based on a press release statement filed with the SEC.
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