On February 6, 2023, Compass Point downgraded their outlook for Solar Capital from Buy to Neutral.
Analyst Price Forecast Suggests 2.62% Upside
As of February 8, 2023, the average one-year price target for Solar Capital is $16.01. The forecasts range from a low of $11.62 to a high of $19.95. The average price target represents an increase of 2.62% from its latest reported closing price of $15.60.
The projected annual revenue for Solar Capital is $226MM, an increase of 41.77%. The projected annual EPS is $1.71, an increase of 1,419.91%.
Solar Capital Declares $0.14 Dividend
Solar Capital said on February 2, 2023 that its board of directors declared a regular monthly dividend of $0.14 per share ($1.64 annualized). Shareholders of record as of February 15, 2023 will receive the payment on March 1, 2023. Previously, the company paid $0.14 per share.
At the current share price of $15.60 / share, the stock's dividend yield is 10.51%. Looking back five years and taking a sample every week, the average dividend yield has been 8.96%, the lowest has been 7.51%, and the highest has been 19.81%. The standard deviation of yields is 1.64 (n=196).
The current dividend yield is 0.94 standard deviations above the historical average.
The company has not increased its dividend in the last three years.
What are large shareholders doing?
Thornburg Investment Management holds 4,338,599 shares
TIBAX - Thornburg Investment Income Builder Fund - holds 4,307,900 shares
Jpmorgan Chase & holds 2,291,695 shares
Ares Management holds 1,646,647 shares
Aristotle Capital Boston holds 1,581,853 shares
Fund Sentiment
There are 125 funds or institutions reporting positions in Solar Capital. This is a decrease of 6 owner(s) or 4.58%.
Average portfolio weight of all funds dedicated to US:SLRC is 0.2585%, a decrease of 1.1602%. Total shares owned by institutions decreased in the last three months by 4.11% to 24,073K shares.
SLR Investment Background Information
(This description is provided by the company.)
Solar Capital Ltd. is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. A specialty finance company with expertise in several niche markets, the Company primarily invests directly and indirectly in leveraged, U. S. middle market companies in the form of cash flow senior secured loans including first lien and second lien debt instruments and asset-based loans including senior secured loans collateralized on a first lien basis primarily by current assets.
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.
