Eagle Point Income (NYSE:EIC) Upgraded at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of Eagle Point Income (NYSE:EIC) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Eagle Point Income Price Performance

Eagle Point Income stock opened at $13.07 on Wednesday. The stock has a fifty day simple moving average of $13.24 and a two-hundred day simple moving average of $14.23. Eagle Point Income has a 12 month low of $12.10 and a 12 month high of $16.71.

Eagle Point Income (NYSE:EIC) last posted its earnings results on Tuesday, August 12th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $15.27 million during the quarter, compared to analyst estimates of $14.40 million.

Eagle Point Income Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Thursday, December 11th will be paid a $0.13 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date is Thursday, December 11th.

Hedge Funds Weigh In On Eagle Point Income

A number of institutional investors and hedge funds have recently modified their holdings of EIC. Baillie Gifford & Co. purchased a new position in shares of Eagle Point Income in the 1st quarter worth $8,515,000. Whipplewood Advisors LLC purchased a new position in shares of Eagle Point Income in the 2nd quarter worth $2,199,000. Verity Asset Management Inc. purchased a new position in shares of Eagle Point Income in the 1st quarter worth $1,149,000. Choreo LLC purchased a new position in shares of Eagle Point Income in the 1st quarter worth $1,052,000. Finally, Enstar Group LTD boosted its stake in shares of Eagle Point Income by 1.5% in the 2nd quarter. Enstar Group LTD now owns 3,819,656 shares of the company’s stock worth $52,215,000 after buying an additional 55,076 shares during the last quarter.

About Eagle Point Income

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.