Eagle Point Income’s (EIC) “Neutral” Rating Reiterated at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH reissued their neutral rating on shares of Eagle Point Income (NYSE:EIC) in a report released on Friday morning, MarketBeat reports.

A number of other brokerages have also weighed in on EIC. Zacks Research upgraded shares of Eagle Point Income from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. B. Riley Financial decreased their price target on shares of Eagle Point Income from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Eagle Point Income Trading Down 1.3%

NYSE:EIC opened at $9.88 on Friday. The stock has a 50-day moving average price of $10.84 and a 200 day moving average price of $11.92. Eagle Point Income has a 12-month low of $9.78 and a 12-month high of $16.05.

Eagle Point Income (NYSE:EIC) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $14.50 million during the quarter, compared to analysts’ expectations of $14.70 million.

Eagle Point Income Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a c) dividend on an annualized basis and a dividend yield of 13.4%.

Institutional Investors Weigh In On Eagle Point Income

Hedge funds have recently bought and sold shares of the business. TCTC Holdings LLC grew its stake in shares of Eagle Point Income by 38.5% in the 4th quarter. TCTC Holdings LLC now owns 3,600 shares of the company’s stock worth $41,000 after buying an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Eagle Point Income by 63.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock valued at $31,000 after buying an additional 1,064 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Eagle Point Income by 3.6% in the 3rd quarter. Raymond James Financial Inc. now owns 48,471 shares of the company’s stock valued at $652,000 after acquiring an additional 1,701 shares during the last quarter. Astoria Portfolio Advisors LLC. grew its position in Eagle Point Income by 17.6% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 12,092 shares of the company’s stock worth $138,000 after acquiring an additional 1,807 shares in the last quarter. Finally, N.E.W. Advisory Services LLC increased its stake in Eagle Point Income by 100.0% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the company’s stock worth $46,000 after acquiring an additional 2,000 shares during the last quarter.

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.