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

Eagle Point Income Company Inc. (NYSE:EIC) declared a monthly dividend on Thursday, August 13th. Shareholders of record on Tuesday, November 10th will be given a dividend of 0.11 per share on Monday, November 30th. This represents a c) dividend on an annualized basis and a dividend yield of 13.1%. The ex-dividend date of this dividend is Tuesday, November 10th.

Eagle Point Income Stock Performance

Shares of NYSE:EIC traded up $0.16 during midday trading on Thursday, hitting $10.08. 137,099 shares of the stock traded hands, compared to its average volume of 146,449. The business’s 50 day moving average is $10.11 and its two-hundred day moving average is $10.11. Eagle Point Income has a one year low of $9.17 and a one year high of $13.92.

Eagle Point Income (NYSE:EIC) last posted its earnings results on Thursday, August 13th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Eagle Point Income from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Eagle Point Income presently has an average rating of “Hold” and a consensus 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.