Eagle Point Income (NYSE:EIC) Upgraded at Zacks Research

Zacks Research upgraded shares of Eagle Point Income (NYSE:EIC) from a strong sell rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

Separately, B. Riley decreased their price target on Eagle Point Income from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $14.00.

Eagle Point Income Stock Performance

EIC opened at $11.19 on Monday. Eagle Point Income has a fifty-two week low of $10.81 and a fifty-two week high of $16.23. The company’s 50-day moving average is $11.30 and its 200 day moving average is $12.43.

Eagle Point Income (NYSE:EIC) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03.

Eagle Point Income Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 11th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, March 11th. This represents a c) annualized dividend and a dividend yield of 11.8%.

Institutional Trading of Eagle Point Income

Institutional investors have recently modified their holdings of the business. Enstar Group LTD grew its stake in Eagle Point Income by 1.5% in the 2nd quarter. Enstar Group LTD now owns 3,819,656 shares of the company’s stock valued at $52,215,000 after buying an additional 55,076 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of Eagle Point Income in the third quarter worth $9,959,000. North Ground Capital purchased a new position in shares of Eagle Point Income in the third quarter valued at $5,683,000. Alpine Global Management LLC purchased a new position in shares of Eagle Point Income in the third quarter valued at $2,991,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of Eagle Point Income during the 2nd quarter valued at $2,199,000.

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.