Carlyle Secured Lending, Inc. (CGBD) to Issue Quarterly Dividend of $0.40 on July 17th

Carlyle Secured Lending, Inc. (NASDAQ:CGBD) announced a quarterly dividend on Tuesday, April 29th, Wall Street Journal reports. Investors of record on Monday, June 30th will be paid a dividend of 0.40 per share on Thursday, July 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.49%. The ex-dividend date is Monday, June 30th.

Carlyle Secured Lending has a dividend payout ratio of 85.1% 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 $1.74 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 92.0%.

Carlyle Secured Lending Stock Down 0.1%

NASDAQ CGBD opened at $13.92 on Friday. The stock has a fifty day moving average of $14.10 and a 200-day moving average of $16.13. The stock has a market capitalization of $709.36 million, a P/E ratio of 10.31 and a beta of 0.86. Carlyle Secured Lending has a 52 week low of $13.12 and a 52 week high of $18.74. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.55 and a current ratio of 3.55.

Carlyle Secured Lending (NASDAQ:CGBD) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Carlyle Secured Lending had a return on equity of 10.49% and a net margin of 32.72%. The firm had revenue of $54.60 million during the quarter, compared to analyst estimates of $55.50 million. On average, equities research analysts forecast that Carlyle Secured Lending will post 1.97 EPS for the current year.

Institutional Trading of Carlyle Secured Lending

A hedge fund recently raised its stake in Carlyle Secured Lending stock. Royal Bank of Canada boosted its position in shares of Carlyle Secured Lending, Inc. (NASDAQ:CGBD) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,612 shares of the company’s stock after acquiring an additional 5,054 shares during the quarter. Royal Bank of Canada owned 0.54% of Carlyle Secured Lending worth $4,460,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 24.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CGBD. Wells Fargo & Company cut their price objective on Carlyle Secured Lending from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Oppenheimer cut their price target on Carlyle Secured Lending from $17.00 to $15.00 and set a “market perform” rating on the stock in a report on Thursday, May 8th. B. Riley upgraded Carlyle Secured Lending to a “hold” rating in a report on Monday, June 16th. Finally, JPMorgan Chase & Co. cut their target price on Carlyle Secured Lending from $17.00 to $14.00 and set an “underweight” rating on the stock in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.75.

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.