This is a routine monthly NAV disclosure with no material change to credit fundamentals. Preferred dividend coverage appears stable based on the asset base. Monitor next month's NAV for trend; no immediate trading action warranted.
Price Chart
Executive Summary
InPoint Commercial Real Estate Income, Inc. (ICR-PA) filed an 8-K disclosing its NAV per share as of May 31, 2026, as part of a routine monthly update. Aggregate NAV per share was $13.3191, supported by a total portfolio of $291.5M in commercial mortgage loans and $99.8M in real estate owned, offset by $183.7M in repurchase agreements and $89.4M in preferred stock. The disclosure provides transparency into asset coverage for the 6.75% Series A Preferred Stock but contains no material changes or new credit events.
Key Facts
- Aggregate NAV per share as of May 31, 2026 was $13.3191, up to 10.12 million shares outstanding.
- Total net asset value attributable to common stock was $134.8 million.
- The largest asset component is $291.5 million in commercial mortgage loans, with $183.7 million in repurchase agreements as the largest liability.
- Preferred stock liquidation preference of $89.4 million is carried as a liability in the NAV calculation.
- The public offering terminated on November 1, 2025; the filing includes a breakdown of NAV by share class (Class P, A, T, D, I).
Financial Impact
NAV per share of $13.3191 implies asset coverage of approximately 1.51x on the $89.4M preferred stock liquidation preference ($134.8M common NAV + $89.4M preferred = $224.2M total equity; $224.2M / $89.4M = 2.51x, but net equity after preferred is $134.8M). No change in dividend rate or coverage ratios is disclosed.
Risk Factors
- Commercial real estate loan portfolio performance could deteriorate, pressuring NAV.
- Leverage via $183.7M repurchase agreements adds refinancing risk.
- No prior-month NAV provided for comparison, so direction of change is unknown.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-271120 |
| Document: 0001193125-26-271120-index-headers.html | 0001193125-26-271120 |
| Document: 0001193125-26-271120-index.html | 0001193125-26-271120 |
| Document: 0001193125-26-271120.txt | 0001193125-26-271120 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 12d ago | 8-K | $20.98 | awaiting T+20 | — | $19.20 (−8.46%) |
Sep 15, 2026 6w ago | 8-K | $22.25 $20.75 | ▼ −6.74% | ▼ −10.19% | $19.20 (−13.71%) |
Jun 30, 2026 17w ago | DEFA14A | $21.94 $21.73 | ▼ −0.93% | ▲ +1.25% | $19.20 (−12.47%) |
Jun 30, 2026 17w ago | DEFA14A | $21.94 $21.73 | ▼ −0.93% | ▲ +1.25% | $19.20 (−12.47%) |
Jun 29, 2026 17w ago | 8-K | $22.25 $21.73 | ▼ −2.34% | ▼ −1.55% | $19.20 (−13.71%) |
Jun 24, 2026 17w ago | DEFA14A | $22.00 $22.25 | ▲ +1.14% | ▲ +0.61% | $19.20 (−12.73%) |
Jun 24, 2026 17w ago | DEFA14A | $22.00 $22.25 | ▲ +1.14% | ▲ +0.61% | $19.20 (−12.73%) |
Jun 15, 2026 19w ago | 8-K | $21.95 $22.50 | ▲ +2.51% | ▲ +1.65% | $19.20 (−12.53%) |
US Market Status
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