Sunbelt Securities Inc. Raises Holdings in Ares Capital Corporation $ARCC

Sunbelt Securities Inc. raised its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 33.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 166,630 shares of the investment management company’s stock after acquiring an additional 42,157 shares during the quarter. Sunbelt Securities Inc.’s holdings in Ares Capital were worth $3,371,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Partners Group Holding AG boosted its position in Ares Capital by 4.8% during the third quarter. Partners Group Holding AG now owns 1,767,154 shares of the investment management company’s stock worth $36,068,000 after purchasing an additional 80,885 shares in the last quarter. Investment Partners Asset Management Inc. purchased a new stake in shares of Ares Capital during the fourth quarter worth about $1,314,000. Prevail Innovative Wealth Advisors LLC acquired a new position in Ares Capital in the 3rd quarter valued at $1,430,000. Sound Income Strategies LLC lifted its position in Ares Capital by 5.6% during the fourth quarter. Sound Income Strategies LLC now owns 2,616,789 shares of the investment management company’s stock worth $54,691,000 after buying an additional 138,857 shares during the period. Finally, Tectonic Advisors LLC lifted its holdings in shares of Ares Capital by 10.8% during the 4th quarter. Tectonic Advisors LLC now owns 662,533 shares of the investment management company’s stock worth $13,403,000 after acquiring an additional 64,491 shares during the period. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

NASDAQ ARCC opened at $18.03 on Friday. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $23.42. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. The stock has a market cap of $12.95 billion, a price-to-earnings ratio of 11.06 and a beta of 0.56. The company has a 50-day moving average price of $18.77 and a two-hundred day moving average price of $19.30.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). The business had revenue of $763.00 million for the quarter, compared to the consensus estimate of $778.00 million. Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. Analysts forecast that Ares Capital Corporation will post 1.91 EPS for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date is Monday, June 15th. Ares Capital’s dividend payout ratio (DPR) is currently 117.79%.

Wall Street Analysts Forecast Growth

ARCC has been the topic of several research reports. Royal Bank Of Canada cut their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Wells Fargo & Company restated an “equal weight” rating and issued a $19.00 target price (down from $20.00) on shares of Ares Capital in a research note on Friday, June 12th. Keefe, Bruyette & Woods lowered their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a report on Tuesday, June 9th. Finally, Citizens Jmp reduced their target price on Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Ares Capital presently has an average rating of “Moderate Buy” and an average target price of $20.65.

About Ares Capital

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.