Zacks Investment Research downgraded shares of Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) from a buy rating to a hold rating in a report released on Friday morning.

According to Zacks, “Fifth Street Senior Floating Rate Corp. is a business development company. It invests primarily in senior secured loans, including first lien, unitranche and second lien debt instruments. The Company’s investment objective is to maximize the portfolio’s total return by generating current income from debt investments while seeking to preserve capital. Fifth Street Senior Floating Rate Corp. is based in White Plains, New York. “

A number of other brokerages have also recently commented on FSFR. TheStreet upgraded shares of Fifth Street Senior Floating Rate Corp. from a c rating to a b- rating in a research report on Monday, June 12th. Maxim Group reiterated a hold rating on shares of Fifth Street Senior Floating Rate Corp. in a research report on Thursday, August 10th. Deutsche Bank AG reiterated a hold rating and issued a $9.25 target price (up from $8.50) on shares of Fifth Street Senior Floating Rate Corp. in a research report on Tuesday, July 18th. Finally, BidaskClub cut shares of Fifth Street Senior Floating Rate Corp. from a sell rating to a strong sell rating in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The company has a consensus rating of Hold and a consensus price target of $9.63.

Shares of Fifth Street Senior Floating Rate Corp. (FSFR) traded up 0.91% during trading on Friday, hitting $8.88. 71,065 shares of the company’s stock were exchanged. Fifth Street Senior Floating Rate Corp. has a 12-month low of $7.30 and a 12-month high of $10.37. The company has a 50-day moving average of $8.70 and a 200-day moving average of $8.31.

Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) last issued its earnings results on Wednesday, August 9th. The investment management company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. The business had revenue of $12.03 million during the quarter. Fifth Street Senior Floating Rate Corp. had a net margin of 29.89% and a return on equity of 7.27%. On average, analysts forecast that Fifth Street Senior Floating Rate Corp. will post $0.77 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 8.56%. The ex-dividend date of this dividend is Thursday, September 14th. Fifth Street Senior Floating Rate Corp.’s payout ratio is currently 161.71%.

A number of institutional investors have recently added to or reduced their stakes in the stock. National Asset Management Inc. increased its position in Fifth Street Senior Floating Rate Corp. by 4.0% during the second quarter. National Asset Management Inc. now owns 33,915 shares of the investment management company’s stock worth $277,000 after purchasing an additional 1,294 shares during the last quarter. Stifel Financial Corp increased its position in Fifth Street Senior Floating Rate Corp. by 6.6% during the second quarter. Stifel Financial Corp now owns 38,788 shares of the investment management company’s stock worth $315,000 after purchasing an additional 2,400 shares during the last quarter. Ares Management LLC increased its position in Fifth Street Senior Floating Rate Corp. by 0.4% during the second quarter. Ares Management LLC now owns 805,305 shares of the investment management company’s stock worth $6,563,000 after purchasing an additional 3,000 shares during the last quarter. JPMorgan Chase & Co. increased its position in Fifth Street Senior Floating Rate Corp. by 10.1% during the second quarter. JPMorgan Chase & Co. now owns 112,506 shares of the investment management company’s stock worth $917,000 after purchasing an additional 10,336 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Fifth Street Senior Floating Rate Corp. during the first quarter worth about $119,000. Hedge funds and other institutional investors own 23.29% of the company’s stock.

Fifth Street Senior Floating Rate Corp. Company Profile

Fifth Street Senior Floating Rate Corp. is a closed-end, non-diversified management investment company. The Company operates as a specialty finance company. The Company’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments while seeking to preserve its capital.

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