MidCap Financial Investment Co. (NASDAQ:MFIC) to Issue $0.38 Quarterly Dividend

MidCap Financial Investment Co. (NASDAQ:MFIC) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Tuesday, March 11th will be paid a dividend of 0.38 per share on Thursday, March 27th. This represents a $1.52 annualized dividend and a yield of 11.09%. The ex-dividend date is Tuesday, March 11th.

MidCap Financial Investment has raised its dividend payment by an average of 6.1% annually over the last three years. MidCap Financial Investment has a dividend payout ratio of 95.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect MidCap Financial Investment to earn $1.60 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 95.0%.

MidCap Financial Investment Trading Down 0.3 %

Shares of NASDAQ:MFIC traded down $0.04 during trading on Thursday, reaching $13.71. 537,088 shares of the company were exchanged, compared to its average volume of 353,979. The firm has a market capitalization of $1.29 billion, a PE ratio of 8.79 and a beta of 1.48. The business’s fifty day simple moving average is $13.82 and its 200-day simple moving average is $13.69. MidCap Financial Investment has a 12-month low of $12.26 and a 12-month high of $16.36. The company has a debt-to-equity ratio of 1.25, a current ratio of 8.51 and a quick ratio of 8.51.

MidCap Financial Investment (NASDAQ:MFIC) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. MidCap Financial Investment had a net margin of 37.05% and a return on equity of 11.37%. The business had revenue of $82.16 million for the quarter, compared to analyst estimates of $86.28 million. On average, research analysts anticipate that MidCap Financial Investment will post 1.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MFIC. Wells Fargo & Company decreased their target price on shares of MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $14.00 price objective on shares of MidCap Financial Investment in a research note on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.71.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (Former name Apollo Investment Corporation) is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.