SLR Investment Corp. (NASDAQ:SLRC) to Issue Quarterly Dividend of $0.41

SLR Investment Corp. (NASDAQ:SLRC) declared a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.41 per share by the financial services provider on Friday, March 28th. This represents a $1.64 dividend on an annualized basis and a yield of 9.50%. The ex-dividend date is Friday, March 14th.

SLR Investment has a payout ratio of 98.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect SLR Investment to earn $1.65 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 99.4%.

SLR Investment Trading Down 2.8 %

Shares of SLRC opened at $17.26 on Wednesday. The stock’s fifty day simple moving average is $16.98 and its 200-day simple moving average is $16.19. The firm has a market capitalization of $941.71 million, a PE ratio of 9.75 and a beta of 1.13. SLR Investment has a 12-month low of $14.41 and a 12-month high of $17.94. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.11.

SLR Investment (NASDAQ:SLRC) last issued its earnings results on Tuesday, February 25th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. SLR Investment had a net margin of 40.89% and a return on equity of 9.73%. The company had revenue of $55.58 million for the quarter, compared to analyst estimates of $57.08 million. As a group, research analysts predict that SLR Investment will post 1.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on SLRC. Compass Point increased their target price on SLR Investment from $16.50 to $17.25 and gave the company a “neutral” rating in a research note on Tuesday. Keefe, Bruyette & Woods increased their price target on shares of SLR Investment from $16.00 to $17.00 and gave the company a “market perform” rating in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company boosted their price objective on shares of SLR Investment from $12.50 to $13.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.85.

SLR Investment Company Profile

SLR Investment Corp. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, leveraged buyouts, acquisitions, recapitalizations, general refinancing, growth capital and strategic income-oriented control equity investments in leveraged middle market companies.