Eagle Point Income: Common Shares Yield 15%, 7.5% Yield On Preferred Shares [Seeking Alpha]
Eagle Point Income Company Inc. (EIC)
Company Research
Source: Seeking Alpha
The company issued new shares, reducing concerns about the asset coverage ratio for the term preferred shares. The 2026 term preferred shares offer a pro forma yield to maturity of approximately 7.5-7.6%, making them an appealing investment. Looking for a helping hand in the market? Members of European Small-Cap Ideas get exclusive ideas and guidance to navigate any climate. Learn More » Introduction Eagle Point Income ( NYSE: EIC ) is an investment company focusing on CLO debt, and as explained in a previous article, Steven Bavaria is an authority on this sector and I would strongly recommend you to read some of his older articles. This October 2022 article is perhaps 18 months old, but still explains very well how you should look at CLO debt. I have a long position in EIC's common shares, but I have a much larger position in the 2026 term preferred shares ( NYSE: EICA ) where the yield to maturity is quite appealing given the additional layer of safety. A very robust Q4 r
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EIC
News
- EICC: New Preferred Equity From This CEF [Seeking Alpha]Seeking Alpha
- Eagle Point Income: A Less Risky CLO Alternative To ECC [Seeking Alpha]Seeking Alpha
- CEF Weekly Review: Some Funds Are Locking In High Leverage Costs [Seeking Alpha]Seeking Alpha
- Eagle Point Income Company Inc. Prices Offering of Preferred StockBusiness Wire
- Eagle Point Income Company Inc. Announces Offering of Preferred StockBusiness Wire
EIC
Sec Filings
- 4/25/24 - Form 424B3
- 4/15/24 - Form 497AD
- 4/11/24 - Form 8-K
- EIC's page on the SEC website