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

SLR Investment Corp. (NASDAQ:SLRC) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Thursday, June 13th will be given a dividend of 0.41 per share by the financial services provider on Thursday, June 27th. This represents a $1.64 annualized dividend and a yield of 10.22%. The ex-dividend date is Thursday, June 13th.

SLR Investment has a dividend payout ratio of 102.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect SLR Investment to earn $1.60 per share next year, which means the company may not be able to cover its $1.64 annual dividend with an expected future payout ratio of 102.5%.

SLR Investment Stock Up 0.3 %

SLRC stock traded up $0.05 during midday trading on Friday, reaching $16.05. 17,250 shares of the company were exchanged, compared to its average volume of 181,485. The stock’s 50-day simple moving average is $15.26 and its 200 day simple moving average is $15.09. SLR Investment has a 1-year low of $13.48 and a 1-year high of $16.07. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $875.61 million, a price-to-earnings ratio of 11.43 and a beta of 1.10.

SLR Investment (NASDAQ:SLRC) last posted its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. SLR Investment had a return on equity of 9.36% and a net margin of 33.31%. The business had revenue of $59.79 million during the quarter, compared to the consensus estimate of $59.00 million. On average, equities analysts forecast that SLR Investment will post 1.73 earnings per share for the current year.

Insiders Place Their Bets

In other SLR Investment news, insider Michael S. Gross acquired 22,636 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average price of $15.74 per share, for a total transaction of $356,290.64. Following the completion of the acquisition, the insider now directly owns 3,804,860 shares of the company’s stock, valued at $59,888,496.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Michael S. Gross acquired 22,636 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were bought at an average price of $15.74 per share, for a total transaction of $356,290.64. Following the completion of the purchase, the insider now directly owns 3,804,860 shares of the company’s stock, valued at approximately $59,888,496.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael S. Gross bought 46,700 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average price of $15.44 per share, with a total value of $721,048.00. Following the completion of the purchase, the insider now directly owns 3,735,524 shares of the company’s stock, valued at approximately $57,676,490.56. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 109,336 shares of company stock worth $1,680,539. 8.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on SLR Investment from $15.50 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. B. Riley raised their price objective on shares of SLR Investment from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, SLR Investment currently has an average rating of “Hold” and a consensus target price of $14.25.

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.