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Eagle Point Income Company Inc. - EIC STOCK NEWS

Welcome to our dedicated page for Eagle Point Income Company news (Ticker: EIC), a resource for investors and traders seeking the latest updates and insights on Eagle Point Income Company stock.

Eagle Point Income Company Inc. (symbol: EIC) is a non-diversified, closed-end management investment company headquartered in Greenwich, Connecticut. The company’s primary investment objective is to generate high current income, with a secondary goal of achieving capital appreciation. EIC primarily invests in junior debt tranches of Collateralized Loan Obligations (CLOs), which are sophisticated financial instruments that pool together various loans and debt securities. This strategic focus on CLOs allows EIC to deliver robust income streams to its investors.

The company also has the flexibility to invest up to 20% of its total assets in CLO equity securities and related instruments. This diversification within its investment portfolio helps mitigate risk while seeking higher returns. EIC is externally managed by Eagle Point Income Management LLC, a specialist in CLO investments, which brings expert oversight and management to the company's portfolio.

Recent achievements include strong financial performance despite market volatility. The company has successfully navigated economic fluctuations, maintaining a resilient portfolio that continues to generate high-income yields. With a commitment to transparency and shareholder value, EIC regularly updates its investors through detailed reports and earnings calls.

Current projects involve further diversification of its investment portfolio and exploring new opportunities within the CLO market. By leveraging its deep industry expertise and prudent management, EIC aims to enhance its income-generating capabilities while maintaining a strong focus on capital preservation and appreciation.

Eagle Point Income Company Inc. stands out in the investment landscape due to its specialized focus on CLO investments and its structured approach to achieving high current income for its investors. With a solid track record and a clear strategic vision, EIC continues to be a significant player in the investment management sector.

News

Eagle Point Income Company Inc. Prices Offering of Preferred Stock

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Eagle Point Income Company Inc. announced a public offering of 1,220,000 shares of its 8.00% Series C Term Preferred Stock at a price of $25 per share, aiming to raise approximately $29.3 million. The offering is rated 'BBB' by Egan-Jones Ratings Company and includes an option for underwriters to purchase additional shares. The Company plans to list the Preferred Stock on the NYSE under the symbol 'EICC'.
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Eagle Point Income Company Inc. Announces Offering of Preferred Stock

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Eagle Point Income Company Inc. announced a public offering of its Series C Term Preferred Stock, rated 'BBB' by Egan-Jones Ratings Company. The offering includes an option for underwriters to purchase additional shares and is expected to list on NYSE under the symbol 'EICC'.
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Eagle Point Income Company Inc. Announces Fourth Quarter and Full Year 2023 Financial Results

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Eagle Point Income Company Inc. reported strong financial results for Q4 2023 and full year 2023, with a significant increase in net asset value and net income. The company's NAV per common share increased by 2.2% to $14.39, and net investment income also saw a substantial rise. Additionally, the company increased its monthly common distribution by 11% to $0.20 per share, the highest in its history. The Company's CLO debt and equity portfolio showed a weighted average effective yield of 13.29% and an expected yield of 17.21%. For the full year 2023, the Company recorded GAAP net income of $29.3 million and received $29.0 million in recurring cash distributions from its investment portfolio. The Company also announced new monthly distributions for its common stock and preferred stocks.
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Eagle Point Income Company Inc. Announces Second Quarter 2024 Common and Preferred Distributions

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Eagle Point Income Company Inc. (EIC) announces distributions on common stock and preferred stock. The company declared three distributions of $0.20 per share on common stock payable in April, May, and June 2024. Additionally, distributions were announced for the 5.00% Series A Term Preferred Stock due 2026 and the 7.75% Series B Term Preferred Stock due 2028.
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Eagle Point Income Company Inc. Schedules Release of Fourth Quarter 2023 and Year-End 2023 Financial Results on Thursday, February 22, 2024

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Eagle Point Income Company Inc. plans to report financial results for the quarter and fiscal year ended December 31, 2023, on February 22, 2024. The Company will discuss its financial results on a conference call on that day at 11:30 a.m. (Eastern Time). Thomas P. Majewski, Chairman and Chief Executive Officer, will host the call along with other key personnel. Interested parties can participate via phone or internet, and a replay will be available for approximately 30 days.
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Eagle Point Income Company Inc. Announces Third Quarter 2023 Financial Results

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Eagle Point Income Company Inc. (NYSE: EIC, EICA, EICB) announced strong financial results for Q3 2023, with an 8.3% increase in NAV per common share, NII of $0.38 per common share, and $14.1 million GAAP net income. The company also declared an 11% increase in monthly common distributions.
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Eagle Point Income Company Inc. Announces 11% Increase in Common Stock Distributions for First Quarter 2024

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Eagle Point Income Company Inc. (NYSE: EIC, EICA, EICB) announces an 11% increase in monthly common stock distributions to $0.20 per share, reflecting sustained confidence in the company's outlook. The company also declares distributions on its Series A and Series B Term Preferred Stock.
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Eagle Point Income Company Inc. Schedules Release of Third Quarter 2023 Financial Results on Tuesday, November 14, 2023

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Eagle Point Income Company Inc. (NYSE: EIC, EICA, EICB) will report financial results for Q3 2023 on November 14, 2023. The conference call to discuss the results will be hosted by Thomas P. Majewski, Chairman and CEO, along with Lena Umnova, Chief Accounting Officer, and Daniel Ko, Portfolio Manager. Interested parties can participate via phone or internet, and an archived replay will be available on the company's website.
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Eagle Point Income Company Inc. Announces Second Quarter 2023 Financial Results

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Eagle Point Income Company Inc. (NYSE: EIC, EICA, EICB) announced strong second-quarter 2023 financial results, including $0.49 NII per common share and a 13% increase in monthly common distributions. The company also issued new 7.75% Series B Preferred Stock, strengthening its balance sheet with $31 million in net proceeds. Portfolio activity through July 31, 2023, saw an estimated NAV per common share of $13.39-$13.49, $6.7 million in recurring cash distributions, and $10.2 million deployed into CLO debt and other investments.
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Eagle Point Income Company Inc. Announces 13% Increase in Common Stock Distributions for Fourth Quarter 2023

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Eagle Point Income Company Inc. (NYSE: EIC, EICA, EICB) announces a 13% increase in monthly distributions on its common stock, with each distribution of $0.18 per share payable on October 31, November 30, and December 29, 2023. The company's outlook remains strong in the current rate environment, leading to the seventh increase in common distributions since 2020.
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FAQ

What is the current stock price of Eagle Point Income Company (EIC)?

The current stock price of Eagle Point Income Company (EIC) is $15.88 as of September 27, 2024.

What is the market cap of Eagle Point Income Company (EIC)?

The market cap of Eagle Point Income Company (EIC) is approximately 249.8M.

What is Eagle Point Income Company Inc. (EIC)?

EIC is a non-diversified, closed-end management investment company that focuses on generating high current income and capital appreciation primarily through investing in junior debt tranches of CLOs.

What are the primary investment objectives of EIC?

The primary investment objective is to generate high current income, with a secondary objective of achieving capital appreciation.

What types of investments does EIC focus on?

EIC primarily invests in junior debt tranches of CLOs and may allocate up to 20% of its total assets to CLO equity securities and related instruments.

Who manages Eagle Point Income Company Inc.?

EIC is externally managed by Eagle Point Income Management LLC, a firm specializing in CLO investments.

How does EIC communicate its performance to investors?

EIC regularly updates its investors through detailed financial reports and earnings calls.

What makes EIC’s investment strategy unique?

EIC stands out due to its specialized focus on CLO investments and its balanced approach to generating high income while preserving capital.

Where is Eagle Point Income Company Inc. headquartered?

EIC is headquartered in Greenwich, Connecticut.

What recent achievements has EIC accomplished?

EIC has maintained strong financial performance and resilient income yields despite market volatility.

What are the future plans of EIC?

EIC plans to further diversify its investment portfolio and explore new opportunities within the CLO market.

How can I invest in EIC?

You can invest in EIC by purchasing its publicly traded shares on the stock market under the symbol EIC.

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Eagle Point Income Company Inc.

NYSE:EIC

EIC Rankings

#3687 Ranked by Market Cap
#42 Ranked by Dividends

EIC Stock Data

249.79M
1.95M
24.19%
3.4%
0.1%
Asset Management
Financial Services
United States of America
Greenwich