Carlyle Secured Lending, Inc. (NASDAQ:CGBD) Announces Quarterly Dividend of $0.48

Carlyle Secured Lending, Inc. (NASDAQ:CGBD) declared a quarterly dividend on Tuesday, February 20th, Zacks reports. Shareholders of record on Friday, March 29th will be given a dividend of 0.48 per share on Wednesday, April 17th. This represents a $1.92 dividend on an annualized basis and a yield of 11.62%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from Carlyle Secured Lending’s previous quarterly dividend of $0.44.

Carlyle Secured Lending has raised its dividend payment by an average of 2.4% annually over the last three years and has raised its dividend every year for the last 3 years. Carlyle Secured Lending has a dividend payout ratio of 86.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Carlyle Secured Lending to earn $1.89 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 84.7%.

Carlyle Secured Lending Stock Up 0.9 %

Shares of CGBD traded up $0.15 during trading hours on Monday, hitting $16.53. The stock had a trading volume of 118,116 shares, compared to its average volume of 202,447. Carlyle Secured Lending has a 1-year low of $13.07 and a 1-year high of $16.63. The firm has a 50 day simple moving average of $15.65 and a 200-day simple moving average of $15.02. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $839.56 million, a P/E ratio of 9.79 and a beta of 1.60.

Carlyle Secured Lending (NASDAQ:CGBD) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Carlyle Secured Lending had a net margin of 38.19% and a return on equity of 12.80%. The firm had revenue of $62.69 million during the quarter, compared to the consensus estimate of $42.86 million. During the same quarter in the previous year, the firm posted $0.48 EPS. Sell-side analysts predict that Carlyle Secured Lending will post 2.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CGBD has been the topic of a number of recent analyst reports. Citigroup boosted their target price on Carlyle Secured Lending from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Wells Fargo & Company boosted their price objective on shares of Carlyle Secured Lending from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th.

Institutional Trading of Carlyle Secured Lending

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new position in shares of Carlyle Secured Lending during the 2nd quarter valued at approximately $32,000. Tower Research Capital LLC TRC lifted its position in Carlyle Secured Lending by 161.2% during the third quarter. Tower Research Capital LLC TRC now owns 2,581 shares of the company’s stock worth $37,000 after buying an additional 1,593 shares during the period. Sunbelt Securities Inc. bought a new position in Carlyle Secured Lending during the 1st quarter worth approximately $118,000. Captrust Financial Advisors bought a new stake in shares of Carlyle Secured Lending in the 3rd quarter worth $122,000. Finally, Steward Partners Investment Advisory LLC grew its stake in Carlyle Secured Lending by 106.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,849 shares of the company’s stock valued at $132,000 after purchasing an additional 4,555 shares in the last quarter. 24.51% of the stock is owned by hedge funds and other institutional investors.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector.