Solar Capital Ltd. (SLRC) to Issue Quarterly Dividend of $0.40 on October 4th
Solar Capital Ltd. (NASDAQ:SLRC) declared a quarterly dividend on Thursday, August 4th. Stockholders of record on Thursday, September 22nd will be paid a dividend of 0.40 per share on Tuesday, October 4th. This represents a $1.60 annualized dividend and a dividend yield of 7.84%. The ex-dividend date is Tuesday, September 20th.
Shares of Solar Capital (NASDAQ:SLRC) opened at 20.41 on Monday. Solar Capital has a 12 month low of $15.05 and a 12 month high of $20.88. The stock has a 50 day moving average price of $20.29 and a 200 day moving average price of $18.73.
Solar Capital (NASDAQ:SLRC) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.05. Solar Capital had a net margin of 35.86% and a return on equity of 7.83%. On average, equities research analysts predict that Solar Capital will post $1.74 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of SLRC. BlackRock Group LTD increased its position in Solar Capital by 14.6% in the second quarter. BlackRock Group LTD now owns 191,328 shares of the company’s stock worth $3,645,000 after buying an additional 24,321 shares in the last quarter. Freestone Capital Holdings LLC acquired a new position in Solar Capital during the second quarter worth approximately $553,000. Citigroup Inc. increased its position in Solar Capital by 0.3% in the second quarter. Citigroup Inc. now owns 22,960 shares of the company’s stock worth $437,000 after buying an additional 80 shares in the last quarter. Nuveen Fund Advisors LLC acquired a new position in Solar Capital during the second quarter worth approximately $2,144,000. Finally, Van ECK Associates Corp increased its position in Solar Capital by 13.1% in the second quarter. Van ECK Associates Corp now owns 136,719 shares of the company’s stock worth $2,604,000 after buying an additional 15,831 shares in the last quarter. Institutional investors own 58.55% of the company’s stock.
Several equities analysts have recently issued reports on SLRC shares. Keefe, Bruyette & Woods set a $21.50 price target on Solar Capital and gave the company a “hold” rating in a research report on Wednesday, August 3rd. National Securities reiterated a “buy” rating and set a $22.00 price target (up from $21.00) on shares of Solar Capital in a research report on Thursday, August 4th. Deutsche Bank AG lifted their price target on Solar Capital from $23.00 to $23.50 and gave the company a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research upgraded Solar Capital from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Friday, August 5th. Finally, Citigroup Inc. lifted their price target on Solar Capital from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, August 16th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $21.38.
About Solar Capital
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.
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