PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT – Get Free Report) announced a monthly dividend on Wednesday, October 2nd, Wall Street Journal reports. Stockholders of record on Wednesday, October 16th will be paid a dividend of 0.1025 per share by the asset manager on Friday, November 1st. This represents a $1.23 dividend on an annualized basis and a dividend yield of 10.55%. The ex-dividend date of this dividend is Wednesday, October 16th.
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 Stock Up 1.2 %
Shares of PFLT stock opened at $11.66 on Friday. PennantPark Floating Rate Capital has a twelve month low of $9.69 and a twelve month high of $12.63. The stock has a market cap of $856.08 million, a P/E ratio of 7.88 and a beta of 1.68. The stock has a 50 day moving average of $11.25 and a 200 day moving average of $11.35. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.60.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the stock. Maxim Group raised shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Monday, August 12th. StockNews.com cut PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, JMP Securities dropped their price objective on PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 30th.
Check Out Our Latest Research Report on PennantPark Floating Rate Capital
PennantPark Floating Rate Capital Company Profile
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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