LADENBURG THALM/SH SH Upgrades Eagle Point Income (NYSE:EIC) to “Strong-Buy”

LADENBURG THALM/SH SH upgraded shares of Eagle Point Income (NYSE:EIC) to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

Separately, B. Riley upgraded shares of Eagle Point Income to a “strong-buy” rating in a report on Tuesday, January 7th.

Eagle Point Income Stock Performance

Shares of Eagle Point Income stock opened at $15.71 on Thursday. Eagle Point Income has a 1 year low of $14.78 and a 1 year high of $16.75. The company’s fifty day simple moving average is $15.70 and its 200-day simple moving average is $15.79.

Eagle Point Income Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 14th will be issued a dividend of $0.20 per share. This represents a dividend yield of 15.17%. The ex-dividend date of this dividend is Monday, January 13th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Graypoint LLC increased its stake in Eagle Point Income by 19.2% in the fourth quarter. Graypoint LLC now owns 197,136 shares of the company’s stock valued at $3,063,000 after acquiring an additional 31,813 shares during the period. Virtu Financial LLC bought a new stake in shares of Eagle Point Income in the 3rd quarter valued at approximately $216,000. Finally, Webster Bank N. A. acquired a new position in shares of Eagle Point Income in the 3rd quarter worth approximately $44,000.

About Eagle Point Income

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.