HighTower Advisors LLC Has $71.71 Million Holdings in Ares Capital Corporation $ARCC

HighTower Advisors LLC increased its position in Ares Capital Corporation (NASDAQ:ARCC) by 9.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,870,130 shares of the investment management company’s stock after buying an additional 335,197 shares during the period. HighTower Advisors LLC owned 0.54% of Ares Capital worth $71,714,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Roman Butler Fullerton & Co. grew its position in Ares Capital by 1.9% in the first quarter. Roman Butler Fullerton & Co. now owns 27,713 shares of the investment management company’s stock valued at $504,000 after acquiring an additional 528 shares during the period. First Citizens Bank & Trust Co. raised its stake in shares of Ares Capital by 5.3% in the fourth quarter. First Citizens Bank & Trust Co. now owns 10,530 shares of the investment management company’s stock valued at $213,000 after acquiring an additional 532 shares during the last quarter. CWS Financial Advisors LLC raised its position in Ares Capital by 4.0% in the 1st quarter. CWS Financial Advisors LLC now owns 14,956 shares of the investment management company’s stock valued at $270,000 after purchasing an additional 582 shares during the last quarter. Astoria Portfolio Advisors LLC. raised its holdings in shares of Ares Capital by 5.9% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 10,616 shares of the investment management company’s stock valued at $202,000 after buying an additional 592 shares during the last quarter. Finally, Founders Financial Alliance LLC raised its stake in shares of Ares Capital by 1.8% in the fourth quarter. Founders Financial Alliance LLC now owns 34,362 shares of the investment management company’s stock worth $695,000 after acquiring an additional 620 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Stock Performance

NASDAQ ARCC opened at $20.04 on Tuesday. The firm has a market cap of $14.39 billion, a P/E ratio of 14.84 and a beta of 0.57. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.28 and a quick ratio of 1.28. The stock’s 50-day moving average is $19.33 and its 200-day moving average is $18.86. Ares Capital Corporation has a one year low of $17.40 and a one year high of $22.51.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, July 29th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Ares Capital had a return on equity of 9.80% and a net margin of 30.91%.The business had revenue of $768.00 million during the quarter, compared to analyst estimates of $770.19 million. During the same period in the previous year, the firm earned $0.50 EPS. Sell-side analysts anticipate that Ares Capital Corporation will post 1.91 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.6%. The ex-dividend date is Tuesday, September 15th. Ares Capital’s dividend payout ratio is 142.22%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered Ares Capital from a “hold” rating to a “sell” rating in a research note on Sunday, August 2nd. JPMorgan Chase & Co. decreased their price objective on Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a research note on Thursday, July 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a research note on Tuesday, June 9th. Truist Financial reduced their target price on Ares Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, UBS Group increased their price target on shares of Ares Capital from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, September 1st. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Ares Capital has an average rating of “Moderate Buy” and a consensus target price of $20.60.

About Ares Capital

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.