PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Declares Monthly Dividend of $0.10

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLTGet Free Report) declared a monthly dividend on Friday, February 2nd, Wall Street Journal reports. Investors of record on Thursday, February 15th will be given a dividend of 0.1025 per share by the asset manager on Friday, March 1st. This represents a $1.23 dividend on an annualized basis and a yield of 10.78%. The ex-dividend date is Wednesday, February 14th.

PennantPark Floating Rate Capital has decreased its dividend payment by an average of 35.2% annually over the last three years.

PennantPark Floating Rate Capital Price Performance

NASDAQ:PFLT traded up $0.03 during trading hours on Monday, reaching $11.41. 324,953 shares of the company were exchanged, compared to its average volume of 729,893. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.34. The firm has a market cap of $703.20 million, a PE ratio of 8.37 and a beta of 1.70. PennantPark Floating Rate Capital has a twelve month low of $9.69 and a twelve month high of $12.63. The stock’s 50-day moving average is $11.75 and its 200-day moving average is $11.07.

PennantPark Floating Rate Capital (NASDAQ:PFLTGet Free Report) last posted its quarterly earnings data on Wednesday, November 15th. The asset manager reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. PennantPark Floating Rate Capital had a return on equity of 11.83% and a net margin of 43.40%. The company had revenue of $35.73 million during the quarter, compared to analyst estimates of $34.37 million. On average, sell-side analysts anticipate that PennantPark Floating Rate Capital will post 1.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new position in PennantPark Floating Rate Capital in the second quarter valued at approximately $4,998,000. First Republic Investment Management Inc. lifted its holdings in PennantPark Floating Rate Capital by 27.5% in the fourth quarter. First Republic Investment Management Inc. now owns 363,811 shares of the asset manager’s stock valued at $3,995,000 after acquiring an additional 78,546 shares during the last quarter. BlackRock Inc. lifted its holdings in PennantPark Floating Rate Capital by 31.1% in the third quarter. BlackRock Inc. now owns 359,692 shares of the asset manager’s stock valued at $3,453,000 after acquiring an additional 85,430 shares during the last quarter. Two Sigma Advisers LP lifted its stake in PennantPark Floating Rate Capital by 21.1% during the first quarter. Two Sigma Advisers LP now owns 333,075 shares of the asset manager’s stock worth $3,534,000 after purchasing an additional 58,000 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in PennantPark Floating Rate Capital by 3.8% during the first quarter. Advisors Asset Management Inc. now owns 320,460 shares of the asset manager’s stock worth $3,400,000 after purchasing an additional 11,721 shares in the last quarter. 27.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PFLT has been the subject of several research reports. TheStreet upgraded PennantPark Floating Rate Capital from a “c” rating to a “b-” rating in a research note on Friday, November 17th. JMP Securities boosted their target price on PennantPark Floating Rate Capital from $12.00 to $12.50 and gave the stock a “market outperform” rating in a report on Thursday, January 18th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.83.

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About PennantPark Floating Rate Capital

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PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S.

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Dividend History for PennantPark Floating Rate Capital (NASDAQ:PFLT)

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