Saratoga Investment Corp. (sar) Raises Dividend to $0.44 Per Share
Saratoga Investment Corp. (NYSE:sar) announced a quarterly dividend on Wednesday, October 12th. Investors of record on Monday, October 31st will be paid a dividend of 0.44 per share on Wednesday, November 9th. This represents a $1.76 annualized dividend and a dividend yield of 9.55%. The ex-dividend date is Thursday, October 27th. This is a positive change from Saratoga Investment Corp.’s previous quarterly dividend of $0.43.
Shares of Saratoga Investment Corp. (NYSE:SAR) opened at 18.365 on Thursday. The company has a market cap of $105.43 million, a price-to-earnings ratio of 13.777 and a beta of 0.39. The company’s 50 day moving average price is $18.03 and its 200 day moving average price is $17.08. Saratoga Investment Corp. has a 12 month low of $13.41 and a 12 month high of $18.75.
Saratoga Investment Corp. (NYSE:SAR) last posted its quarterly earnings data on Thursday, October 13th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. Saratoga Investment Corp. had a return on equity of 9.23% and a net margin of 24.83%. On average, equities analysts expect that Saratoga Investment Corp. will post $1.91 EPS for the current fiscal year.
An institutional investor recently raised its position in Saratoga Investment Corp. stock. Ameriprise Financial Inc. raised its position in shares of Saratoga Investment Corp. (NYSE:SAR) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,129 shares of the company’s stock after buying an additional 265 shares during the period. Ameriprise Financial Inc. owned about 0.32% of Saratoga Investment Corp. worth $306,000 at the end of the most recent quarter. 20.45% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on SAR. Zacks Investment Research lowered Saratoga Investment Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Compass Point began coverage on Saratoga Investment Corp. in a research note on Tuesday, July 26th. They set a “neutral” rating and a $18.00 price target for the company.
Saratoga Investment Corp. Company Profile
Saratoga Investment Corp. is a specialty finance company. The Company is an externally managed, closed-end, non-diversified management investment company. The Company invests primarily in leveraged loans and mezzanine debt issued by private middle-market companies in the United States. Its investment objective is to generate current income and, to a lesser extent, capital appreciation from its investments.
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