SLR Investment Corp. (NASDAQ:SLRC) Announces $0.14 Monthly Dividend
SLR Investment Corp. (NASDAQ:SLRC – Get Rating) announced a monthly dividend on Friday, June 3rd, Zacks reports. Shareholders of record on Thursday, June 23rd will be paid a dividend of 0.137 per share by the financial services provider on Tuesday, July 5th. This represents a $1.64 annualized dividend and a yield of 10.42%. The ex-dividend date of this dividend is Wednesday, June 22nd.
SLR Investment has increased its dividend by an average of 10.1% annually over the last three years. SLR Investment has a payout ratio of 102.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect SLR Investment to earn $1.63 per share next year, which means the company may not be able to cover its $1.64 annual dividend with an expected future payout ratio of 100.6%.
Shares of SLRC opened at $15.78 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.98. SLR Investment has a 12 month low of $14.52 and a 12 month high of $20.05. The stock’s 50 day moving average is $16.66 and its two-hundred day moving average is $17.83. The firm has a market cap of $864.27 million, a P/E ratio of 16.79 and a beta of 1.14.
SLR Investment (NASDAQ:SLRC – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The firm had revenue of $33.01 million during the quarter, compared to analyst estimates of $36.95 million. SLR Investment had a return on equity of 7.11% and a net margin of 28.96%. Equities research analysts forecast that SLR Investment will post 1.43 EPS for the current year.
A number of brokerages have recently issued reports on SLRC. Wells Fargo & Company lowered their price target on SLR Investment from $17.25 to $16.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. Maxim Group began coverage on SLR Investment in a research note on Monday, April 25th. They issued a “buy” rating and a $20.00 price target on the stock. StockNews.com raised SLR Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11th. Hovde Group lowered their price objective on SLR Investment to $16.00 in a research note on Friday, May 20th. Finally, Zacks Investment Research lowered SLR Investment from a “hold” rating to a “sell” rating in a research note on Saturday, March 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.83.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new position in SLR Investment during the 1st quarter worth $229,000. Polar Capital Holdings Plc grew its stake in SLR Investment by 3.1% during the 1st quarter. Polar Capital Holdings Plc now owns 283,615 shares of the financial services provider’s stock worth $5,142,000 after purchasing an additional 8,615 shares in the last quarter. Royal Bank of Canada grew its stake in SLR Investment by 5.6% during the 1st quarter. Royal Bank of Canada now owns 151,115 shares of the financial services provider’s stock worth $2,740,000 after purchasing an additional 8,010 shares in the last quarter. First Republic Investment Management Inc. grew its stake in SLR Investment by 1.5% during the 1st quarter. First Republic Investment Management Inc. now owns 190,384 shares of the financial services provider’s stock worth $3,452,000 after purchasing an additional 2,781 shares in the last quarter. Finally, Ares Management LLC grew its stake in SLR Investment by 19.3% during the 1st quarter. Ares Management LLC now owns 1,895,303 shares of the financial services provider’s stock worth $34,362,000 after purchasing an additional 306,084 shares in the last quarter.
About SLR Investment (Get Rating)
SLR Investment Corp. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, leveraged buyouts, acquisitions, recapitalizations, general refinancing, growth capital and strategic income-oriented control equity investments in leveraged middle market companies.
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