Strs Ohio Buys New Shares in Ares Capital Corporation $ARCC

Strs Ohio bought a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,500,000 shares of the investment management company’s stock, valued at approximately $189,210,000. Ares Capital makes up 0.8% of Strs Ohio’s holdings, making the stock its 17th biggest holding. Strs Ohio owned 1.46% of Ares Capital at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ARCC. Palladiem LLC bought a new stake in shares of Ares Capital in the 4th quarter worth approximately $26,000. SWAN Capital LLC bought a new stake in shares of Ares Capital during the third quarter valued at approximately $27,000. Sankala Group LLC bought a new stake in shares of Ares Capital during the fourth quarter valued at approximately $28,000. Core Wealth Advisors LLC acquired a new position in shares of Ares Capital in the fourth quarter valued at $33,000. Finally, Quarry LP bought a new position in Ares Capital in the third quarter worth $33,000. 27.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ARCC has been the topic of several analyst reports. B. Riley Financial lowered their price target on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Keefe, Bruyette & Woods reduced their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. Royal Bank Of Canada decreased their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Citizens Jmp lowered their target price on shares of Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $19.00 price target (down from $20.00) on shares of Ares Capital in a research report on Friday, June 12th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Ares Capital has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Ares Capital Stock Performance

NASDAQ ARCC opened at $18.73 on Friday. The firm has a market cap of $13.45 billion, a price-to-earnings ratio of 11.49 and a beta of 0.56. The company has a 50 day moving average of $18.70 and a 200-day moving average of $19.11. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. Ares Capital Corporation has a 1-year low of $17.40 and a 1-year high of $23.42.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Tuesday, April 28th. The investment management company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The business had revenue of $763.00 million during the quarter, compared to analyst estimates of $778.00 million. During the same period in the previous year, the firm earned $0.50 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, equities analysts forecast that Ares Capital Corporation will post 1.91 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 10.3%. The ex-dividend date was Monday, June 15th. Ares Capital’s dividend payout ratio (DPR) is presently 117.79%.

Ares Capital Company Profile

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.