Shares of Solar Capital Ltd. (NASDAQ:SLRC) have earned an average rating of “Buy” from the seven brokerages that are currently covering the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $21.60.

Several brokerages recently commented on SLRC. National Securities restated a “buy” rating and issued a $22.00 price target (up previously from $21.00) on shares of Solar Capital in a research report on Thursday, August 4th. Zacks Investment Research upgraded shares of Solar Capital from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Friday, August 5th. Deutsche Bank AG upped their price target on shares of Solar Capital from $23.00 to $23.50 and gave the company a “buy” rating in a research report on Thursday, August 4th. Keefe, Bruyette & Woods set a $21.50 price target on shares of Solar Capital and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Finally, Citigroup Inc. upped their price target on shares of Solar Capital from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, August 16th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Yorktown Management & Research Co Inc raised its position in shares of Solar Capital by 60.3% in the third quarter. Yorktown Management & Research Co Inc now owns 1,010,000 shares of the company’s stock valued at $20,725,000 after buying an additional 380,000 shares during the period. Muzinich & Co. Inc. raised its position in shares of Solar Capital by 43.4% in the third quarter. Muzinich & Co. Inc. now owns 902,226 shares of the company’s stock valued at $18,514,000 after buying an additional 273,040 shares during the period. Bank of Montreal Can acquired a new position in shares of Solar Capital during the second quarter valued at approximately $4,534,000. State of New Jersey Common Pension Fund D raised its position in shares of Solar Capital by 21.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 730,000 shares of the company’s stock valued at $14,980,000 after buying an additional 130,000 shares during the period. Finally, Nuveen Fund Advisors LLC acquired a new position in shares of Solar Capital during the second quarter valued at approximately $2,144,000. Hedge funds and other institutional investors own 58.78% of the company’s stock.

Solar Capital (NASDAQ:SLRC) opened at 21.42 on Thursday. The company’s 50 day moving average is $20.27 and its 200 day moving average is $19.60. Solar Capital has a 12-month low of $15.05 and a 12-month high of $21.48.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Thursday, December 15th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $1.60 annualized dividend and a yield of 7.47%. Solar Capital’s dividend payout ratio is presently 89.89%.

Solar Capital Company Profile

Solar Capital Ltd. is a management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in the United States middle market companies. It invests primarily in leveraged middle markets companies in the form of senior secured loans, mezzanine loans and equity securities.

5 Day Chart for NASDAQ:SLRC

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