Eagle Point Income Company Inc (EIC)
NYSE NYSE Primary 
Eagle Point Income Co Inc. (EIC) Q3 2024 Earnings Call Transcript
Eagle Point Income Co Inc. (NYSE:EIC ) Q3 2024 Earnings Conference Call November 14, 2024 11:30 AM ET Company Participants Garrett Edson - ICR Thomas Majewski - Chairman and Chief Executive Officer Dan Ko - Senior Principal and Portfolio Manager Lena Umnova - Chief Accounting Officer Conference Call Participants Matthew Howlett - B. Riley Securities Operator Ladies and gentlemen, greetings, and welcome to the Eagle Point Income Company's Third Quarter 2024 Financial Results Call.
Bargain Securities From NewtekOne And Eagle Point Income Company
At our Conservative Income Portfolio service, I specialize in uncovering relatively mispriced/undervalued preferred stocks and bonds that often fly under the radar and that should significantly outperform similar securities. In this article, I present two very undervalued high yielding baby bonds from NewtekOne and the evidence that I have to declare them very undervalued. Additionally, I will present two term preferred stocks from Eagle Point Credit Company, which offer an 8% yield to maturity for an investment that I consider quite safe.
Preferreds Weekly Review: Embedded Options And Redemption Likelihood
We take a look at the action in preferreds and baby bonds through the first week of October and highlight some of the key themes we are watching. Preferred stocks saw slight declines as Treasury yields rose, but year-to-date returns remain strong, outperforming REITs and BDCs. Lower-priced preferreds offer better capital gain potential and are more attractive due to lower negative convexity compared to higher-priced counterparts.
EICC: Compared To Other 2029 Choices, I Have Downgraded My Rating To Sell
I am downgrading Eagle Point Income Company Inc. NT 29, trading under EICC, from Buy to Sell due to poor yield comparisons and coverage ratio. EICC's primary investment objective is high current income, investing mainly in junior debt tranches of CLOs, with a secondary focus on capital appreciation. Compared to other 2029 maturing issues, EICC offers the least yield and coverage, with RWTO providing the best yield-to-call and coverage.
Eagle Point Income: 15% Yield On Common Stock, 8% On Preferred Stock
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 (EIC) Q2 2024 Earnings Call Transcript
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 Financial Results Conference. At this time all participants are in a listen-only mode.
Eagle Point Income: May Benefit From Interest Rate Cuts
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 investment.
Our Latest Picks In The 8-9%-Yielding CLO Equity Senior Security Sector
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 Income: Where This High-Yield CLO Fund Fits In The Risk Stack
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.
Eagle Point Income Company Inc. (EIC) Q1 2024 Earnings Call Transcript
Eagle Point Income Company Inc. (NYSE:EIC ) Q1 2024 Earnings Conference Call May 21, 2024 11:30 AM ET Company Participants Peter Sceusa - IR Tom Majewski - Chairperson & CEO Dan Ko - Senior Principal Lena Umnova - Chief Accounting Officer Conference Call Participants Operator Greetings. Welcome to the Eagle Point Income Company First Quarter 2024 Financial Results Call.
