From Seekingalpha · · 1m
Eagle Point Income: Q3 Earnings Boost
Eagle Point Income's high yield and stable distributions ahead of Q3 earnings.
In brief
Eagle Point Income's high yield and stable distributions ahead of Q3 earnings. Eagle Point Income offers 15% yield with 30% discount to NAV, supporting distributions through floating rate loans ahead of Q3 earnings. Originally reported by Seekingalpha.
Eagle Point Income Rating
Eagle Point Income Company is rated a buy due to its historically wide -30% discount to NAV and 15% yield.
Stable NAV Despite Market Decline
EIC's NAV has remained stable despite market fears and a sharp price decline.
Fully Covered Distributions
Monthly distributions are fully covered by net investment income.
Shifting to Higher-Performing Assets
The fund is shifting toward higher-performing credit assets, reducing CLO equity exposure below 20%.
Recent Redemption of Preferred Shares
EIC recently redeemed its Series A Term Preferred Shares.
Floating Rate Loans Benefit from Higher Rates
Higher interest rates are expected to benefit EIC's floating rate loan portfolio, supporting stable distributions ahead of Q3 earnings.
What matters most
Eagle Point Income offers 15% yield with 30% discount to NAV, supporting distributions through floating rate loans ahead of Q3 earnings.
