PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) announced a monthly dividend on Tuesday, January 4, Zacks reports. Investors registered on Tuesday January 18 will receive a dividend of 0.095 per share from the asset manager on Tuesday February 1. This represents an annualized dividend of $ 1.14 and a return of 8.82%. The ex-dividend date for this dividend is Friday January 14.
PennantPark Floating Rate Capital has a dividend payout ratio of 99.1%, which indicates that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect PennantPark Floating Rate Capital to earn $ 1.15 per share next year, which means the company should continue to be able to hedge its annual dividend of $ 1.14 with a expected future payout rate of 99.1%.
PennantPark’s floating rate principal opened at $ 12.93 on Thursday. The company has a leverage ratio of 0.46, a quick ratio of 0.12, and a current ratio of 0.12. PennantPark Floating Rate Capital has a 52 week low of $ 10.67 and a 52 week high of $ 13.92. The company has a 50-day moving average price of $ 13.09 and a two-hundred-day moving average price of $ 13.03. The company has a market cap of $ 503.48 million, a price / earnings ratio of 8.86, a PEG ratio of 0.29 and a beta of 1.94.
PennantPark Floating Rate Capital (NASDAQ: PFLT) last released its quarterly results on Wednesday, November 17. The asset manager reported earnings per share (EPS) of $ 0.28 for the quarter, beating the consensus estimate of $ 0.27 by $ 0.01. PennantPark Floating Rate Capital had a net margin of 68.35% and a return on equity of 8.29%. In the same quarter of last year, the company posted earnings per share of $ 0.27. As a group, equity research analysts predict that PennantPark Floating Rate Capital will post 1.1 EPS for the current fiscal year.
Meanwhile, Zacks Investment Research downgraded PennantPark Floating Rate Capital shares from a “hold” rating to a “sell” rating in a report released on Tuesday, November 23.
A hedge fund recently increased its stake in PennantPark Floating Rate Capital stock. UBS Group AG has increased its stake in PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) 7.1% in the 3rd quarter, according to the company in its latest filing with the Securities and Exchange Commission. The company held 52,939 shares of the asset manager after purchasing an additional 3,517 shares during the quarter. UBS Group AG owned approximately 0.14% of PennantPark Floating Rate Capital worth $ 677,000 at the end of the most recent quarter. Institutional investors and hedge funds hold 25.37% of the company’s shares.
About PennantPark Variable Rate Capital
PennantPark Floating Rate Capital Ltd is an undiversified closed-end investment company that invests in small market capitalization companies and mid-market companies located in the United States and, to a limited extent, in non-US companies. The fund invests in equity securities such as preferred stocks, common stocks, warrants or options received through debt investments or through direct investments of an investment size of $ 2 to $ 20 million.
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