Eagle Point Income Company Inc. (EIC) To Go Ex-Dividend on September 10th

Eagle Point Income Company Inc. (NYSE:EIC) declared a monthly dividend on Tuesday, May 12th. Investors of record on Thursday, September 10th will be paid a dividend of 0.11 per share on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 12.3%. The ex-dividend date of this dividend is Thursday, September 10th.

Eagle Point Income Stock Up 2.4%

Shares of Eagle Point Income stock opened at $10.75 on Thursday. The company has a fifty day moving average of $9.79 and a 200 day moving average of $10.72. Eagle Point Income has a fifty-two week low of $9.17 and a fifty-two week high of $14.80.

Eagle Point Income (NYSE:EIC) last issued its earnings results on Thursday, February 26th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $14.50 million during the quarter, compared to the consensus estimate of $14.70 million.

Analysts Set New Price Targets

EIC has been the topic of several research analyst reports. B. Riley Financial decreased their price target on shares of Eagle Point Income from $14.00 to $11.25 and set a “buy” rating on the stock in a research note on Monday, March 16th. Zacks Research cut shares of Eagle Point Income from a “hold” rating to a “strong sell” rating in a research note on Friday, February 27th. Finally, LADENBURG THALM/SH SH reiterated a “neutral” rating on shares of Eagle Point Income in a research note on Friday, February 27th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $11.25.

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.