Eagle Point Income Company Inc. 5% Notes due 2026 (EICA)
NYSE NYSE Primary 
EICA: Has Run Its Course, Monitoring For Price Distortions (Downgrade)
Eagle Point Income Company Inc. Series A Preferred is now rated 'Hold' as the pull-to-par opportunity has closed with shares trading near par. EICA's October 2026 maturity and 5% coupon offer little capital gain potential, with yield to maturity at 5.5% and only five months remaining. Recent refinancing replaced exchange-listed preferreds with privately placed perpetual convertibles, limiting retail investor access and signaling a likely direction for Series A post-maturity.
EICA: Nothing Wrong With Boring
Eagle Point Income Company Inc. Series A Preferred offers a stable, low-volatility income stream with a 5% coupon and October 2026 maturity. EICA trades near par, yielding a 6.08% yield to maturity, outperforming comparable short-term bond and money market funds by about 100 bps. Credit risk is minimal due to 1940 Act coverage requirements, positioning EICA as a conservative alternative for short-duration investors.
EICA: One Year Left, 6.24% YTM
Eagle Point Income Company Inc. CAL NT 26 (EICA) offers a 6.24% yield to maturity with only one year remaining until its October 2026 maturity. EICA stands out versus other short-term vehicles, providing a 2.24% yield pick-up over the current 4% Fed Funds rate and superior risk-adjusted returns. Protections under the 1940 Act and a seasoned management team mitigate credit risk, making EICA a robust short-duration option despite underlying CLO exposure.
