Eagle Point Income Company Inc. Declares Monthly Dividend of $0.11 (NYSE:EIC)

Eagle Point Income Company Inc. (NYSE:EIC) declared a monthly dividend on Tuesday, February 17th. Shareholders of record on Monday, May 11th will be given a dividend of 0.11 per share on Friday, May 29th. This represents a c) annualized dividend and a yield of 12.9%. The ex-dividend date is Monday, May 11th.

Eagle Point Income Stock Performance

Shares of EIC opened at $10.22 on Wednesday. Eagle Point Income has a 1 year low of $9.78 and a 1 year high of $16.11. The stock’s 50-day moving average price is $11.01 and its two-hundred day moving average price is $12.07.

Wall Street Analyst Weigh In

EIC has been the subject of a number of analyst reports. B. Riley Financial decreased their price objective on shares of Eagle Point Income from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Zacks Research raised shares of Eagle Point Income from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $14.00.

Eagle Point Income Company Profile

Eagle Point Income Company (NYSE: EIC) is a closed-end management investment company that primarily invests in the equity and junior debt tranches of collateralized loan obligations (CLOs). Launched in 2019 and domiciled in Maryland, the company seeks to provide shareholders with high current income and the potential for capital appreciation by focusing on structured credit opportunities. Eagle Point Income maintains a diversified portfolio of CLO equity positions, targeting both seasoned and newly issued transactions across multiple risk profiles.

The company’s investment strategy centers on identifying mispriced or underfollowed CLO tranches, where it believes its team’s deep industry expertise can add value.