Separately, Zacks Investment Research lowered shares of Solar Capital from a hold rating to a sell rating in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Solar Capital currently has a consensus rating of Hold and a consensus target price of $22.70.
SLRC stock opened at $20.77 on Wednesday. The company’s 50 day moving average price is $20.52 and its 200 day moving average price is $20.89. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.96 and a current ratio of 0.96. Solar Capital has a fifty-two week low of $18.45 and a fifty-two week high of $21.83. The firm has a market capitalization of $874.38 million, a price-to-earnings ratio of 11.76, a PEG ratio of 3.93 and a beta of 0.70.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Thursday, September 19th will be paid a $0.41 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.64 annualized dividend and a yield of 7.90%. Solar Capital’s dividend payout ratio is currently 92.66%.
A number of institutional investors have recently made changes to their positions in SLRC. Arlington Partners LLC purchased a new position in Solar Capital in the second quarter valued at approximately $38,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Solar Capital in the second quarter valued at approximately $41,000. Centaurus Financial Inc. increased its stake in Solar Capital by 4,820.7% in the second quarter. Centaurus Financial Inc. now owns 5,462 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 5,351 shares during the last quarter. Glassman Wealth Services purchased a new position in Solar Capital in the first quarter valued at approximately $165,000. Finally, Advisor Group Inc. increased its stake in Solar Capital by 26.2% in the second quarter. Advisor Group Inc. now owns 8,535 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 1,772 shares during the last quarter. Institutional investors own 57.86% of the company’s stock.
About Solar Capital
Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities.
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