Ares Capital Corporation (ARCC) To Go Ex-Dividend on December 15th

Ares Capital Corporation (NASDAQ:ARCC) announced a quarterly dividend on Tuesday, October 27th. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.48 per share by the investment management company on Tuesday, December 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.4%. The ex-dividend date of this dividend is Tuesday, December 15th.

Ares Capital has a payout ratio of 96.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Ares Capital to earn $1.95 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 98.5%.

Ares Capital Trading Up 0.1%

NASDAQ:ARCC opened at $18.53 on Thursday. 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 has a one year low of $17.40 and a one year high of $21.14. The business’s 50-day simple moving average is $19.25 and its 200 day simple moving average is $19.05. The stock has a market cap of $13.30 billion, a price-to-earnings ratio of 13.73 and a beta of 0.61.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, October 27th. The investment management company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. The business had revenue of $763.00 million for the quarter, compared to analyst estimates of $776.34 million. During the same quarter last year, the business earned $0.50 EPS. Ares Capital’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that Ares Capital will post 1.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ares Capital

A number of hedge funds have recently added to or reduced their stakes in the stock. Roman Butler Fullerton & Co. increased its stake in shares of Ares Capital by 1.9% in the first quarter. Roman Butler Fullerton & Co. now owns 27,713 shares of the investment management company’s stock worth $504,000 after acquiring an additional 528 shares during the last quarter. Magnus Financial Group LLC boosted its position in Ares Capital by 2.5% during the third quarter. Magnus Financial Group LLC now owns 23,881 shares of the investment management company’s stock valued at $456,000 after purchasing an additional 579 shares during the last quarter. CWS Financial Advisors LLC boosted its position in Ares Capital by 4.0% during the first quarter. CWS Financial Advisors LLC now owns 14,956 shares of the investment management company’s stock valued at $270,000 after purchasing an additional 582 shares during the last quarter. Intrua Financial LLC increased its position in Ares Capital by 1.6% in the 3rd quarter. Intrua Financial LLC now owns 37,539 shares of the investment management company’s stock worth $717,000 after purchasing an additional 607 shares during the last quarter. Finally, VPR Management LLC raised its stake in shares of Ares Capital by 1.0% during the 2nd quarter. VPR Management LLC now owns 63,254 shares of the investment management company’s stock worth $1,172,000 after purchasing an additional 636 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Company Profile

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.