Pennantpark Floating Rate Capital said on April 4, 2023 that its board of directors declared a regular monthly dividend of $0.10 per share ($1.20 annualized). Previously, the company paid $0.10 per share.
Shares must be purchased before the ex-div date of April 17, 2023 to qualify for the dividend. Shareholders of record as of April 18, 2023 will receive the payment on May 1, 2023.
At the current share price of $10.62 / share, the stock's dividend yield is 11.30%. Looking back five years and taking a sample every week, the average dividend yield has been 10.44%, the lowest has been 8.14%, and the highest has been 29.23%. The standard deviation of yields is 2.79 (n=196).
The current dividend yield is 0.31 standard deviations above the historical average.
The company's 3-Year dividend growth rate is 0.05%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 10.45% Upside
As of March 31, 2023, the average one-year price target for Pennantpark Floating Rate Capital is $11.73. The forecasts range from a low of $11.11 to a high of $12.60. The average price target represents an increase of 10.45% from its latest reported closing price of $10.62.
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The projected annual revenue for Pennantpark Floating Rate Capital is $128MM, an increase of 16.03%. The projected annual non-GAAP EPS is $1.24.
What is the Fund Sentiment?
There are 109 funds or institutions reporting positions in Pennantpark Floating Rate Capital. This is an increase of 10 owner(s) or 10.10% in the last quarter. Average portfolio weight of all funds dedicated to PFLT is 0.12%, a decrease of 5.46%. Total shares owned by institutions increased in the last three months by 2.21% to 10,860K shares. The put/call ratio of PFLT is 0.43, indicating a bullish outlook.
What are Other Shareholders Doing?
FNY Investment Advisers holds 1K shares. No change in the last quarter.
Delta Asset Management holds 1K shares.
Lindbrook Capital holds 0K shares. In it's prior filing, the firm reported owning 0K shares, representing an increase of 3.12%.
McElhenny Sheffield Capital Management holds 1K shares.
Pictet North America Advisors holds 26K shares. No change in the last quarter.
PennantPark Floating Rate Capital Background Information
(This description is provided by the company.)
PennantPark Investment Advisers, LLC is a leading middle market credit platform, managing $4.3 billion of investable capital, including potential leverage. Since its inception in 2007, PennantPark Investment Advisers, LLC has provided investors access to middle market credit by offering private equity firms and their portfolio companies as well as other middle-market borrowers a comprehensive range of creative and flexible financing solutions. PennantPark Investment Advisers, LLC is headquartered in New York and has offices in Chicago, Houston and Los Angeles.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
