Eagle Point Income Company Inc Stock News

Eagle Point Income's strong balance sheet ensures the preferred equity is well covered, with a healthy 311% asset coverage ratio at the end of June. The focus is on preferred shares, particularly EICA, with plans to add EICC for longer duration. The common stock yields 15.4%, but dividend payments may stagnate or decrease as market interest rates drop.

Eagle Point Income Co Inc (NYSE:EIC ) Q2 2024 Earnings Conference Call August 6, 2024 11:30 AM ET Company Participants Peter Sceusa – ICR Tom Majewski – Chairman and Chief Executive Officer Dan Ko – Senior Principal and Portfolio Manager Lena Umnova – Chief Accounting Officer Conference Call Participants Operator Greetings, and welcome to the Eagle Point Income Company's Second Quarter 2024 Fin...

GREENWICH, Conn.--(BUSINESS WIRE)---- $EIC--Eagle Point Income Company Inc. (the “Company”) (NYSE: EIC, EICA, EICB, EICC) today announced financial results for the quarter ended June 30, 2024 and certain additional activity through July 31, 2024. “We kept our momentum going in the second quarter as the investment portfolio continued to generate strong cash flows and net investment income,” said...

Eagle Point Income operates as a closed end management company with a focus on CLO debt investments. EIC focuses on BB-rated CLO debt investments made on a floating rate basis. This floating rate focus helps generate higher earnings with higher interest rates. The dividend distribution is well-covered by net investment income and recurring cash distributions, making EIC a sustainable income inv...

June was another month where we saw broader equities hitting new all-time highs. However, that participation was rather narrow as the mega-cap tech names led the way higher. This last month, I added to or initiated positions in five different closed-end fund names; I sold out of two positions this month.

The CLO equity senior security sector is easy to overlook, but it has a number of attractive features such as high yields, strong asset coverage levels and mandatory maturities. We review the sector, the most common pitfalls and discuss a couple of head-to-head comparisons. Finally, we provide a detailed risk/reward summary and highlight our picks.

Eagle Point Credit Management manages two CLO-focused CEFs, with Eagle Point Income Company offering a nearly 15% yield. Closed-end funds offer high yields through various strategies, including collateralized loan obligations, or CLOs. EIC invests in lower-rated debt tranches of CLOs, providing high yields and growing dividends, outperforming its larger sister fund, ECC.

Collateralized loan obligation closed-end fund preferreds and baby bonds can offer relatively secure sources of income generation for investors. These offerings are subject to stricter regulations under the 1940 Act, limiting leverage and that can provide more security to these instruments. New offerings since our last update include EICC and CCIA, which naturally came with higher issued yields...