Ares Capital Corporation $ARCC Shares Purchased by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 11.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 938,383 shares of the investment management company’s stock after acquiring an additional 93,412 shares during the quarter. Ares Capital accounts for 0.8% of Tectonic Advisors LLC’s holdings, making the stock its 25th largest position. Tectonic Advisors LLC’s holdings in Ares Capital were worth $17,923,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of ARCC. Strs Ohio purchased a new stake in Ares Capital in the 1st quarter worth approximately $189,210,000. Bank of America Corp DE purchased a new position in shares of Ares Capital during the 2nd quarter valued at approximately $165,569,000. Legal & General Group Plc purchased a new position in shares of Ares Capital during the 2nd quarter valued at approximately $120,538,000. Advisors Capital Management LLC purchased a new position in shares of Ares Capital during the 2nd quarter valued at approximately $63,140,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Ares Capital in the 2nd quarter valued at $53,867,000. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ARCC has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. JPMorgan Chase & Co. cut their price objective on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a report on Thursday, July 2nd. UBS Group upped their price objective on shares of Ares Capital from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 1st. Keefe, Bruyette & Woods lowered their target price on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ares Capital in a research report on Friday, September 4th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.39.

Ares Capital Price Performance

Shares of ARCC stock traded down $0.15 on Friday, reaching $18.64. 4,844,743 shares of the company were exchanged, compared to its average volume of 4,297,268. The company has a market cap of $13.38 billion, a price-to-earnings ratio of 13.81 and a beta of 0.61. The business has a 50-day moving average price of $19.32 and a 200 day moving average price of $18.99. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.28 and a current ratio of 1.28. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $21.14.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, July 29th. The investment management company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The firm had revenue of $768.00 million during the quarter, compared to the consensus estimate of $770.19 million. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. During the same quarter in the prior year, the firm earned $0.50 EPS. Equities research analysts forecast that Ares Capital Corporation will post 1.91 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 10.3%. The ex-dividend date was Tuesday, September 15th. Ares Capital’s payout ratio is 142.22%.

About Ares Capital

Ares Capital Corporation (NASDAQ: ARCC) is a business development company that provides financing to middle-market companies. The company primarily invests in first-lien senior secured loans, second-lien loans, subordinated debt, and, to a lesser extent, equity securities. Its investments are generally designed to support acquisitions, recapitalizations, refinancings, growth initiatives, and other corporate activities.

Founded in 2004, Ares Capital is externally managed by Ares Capital Management LLC, an affiliate of Ares Management Corporation.