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

SLR Investment Corp. (NASDAQ:SLRC) declared a quarterly dividend on Wednesday, August 7th, Zacks reports. Shareholders of record on Friday, September 13th will be paid a dividend of 0.41 per share by the financial services provider on Friday, September 27th. This represents a $1.64 dividend on an annualized basis and a yield of 10.85%. The ex-dividend date is Friday, September 13th.

SLR Investment has a payout ratio of 100.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Price Performance

Shares of SLRC traded down $0.17 during midday trading on Friday, reaching $15.12. The stock had a trading volume of 34,162 shares, compared to its average volume of 161,901. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $824.87 million, a P/E ratio of 8.52 and a beta of 1.13. The firm’s 50 day moving average price is $15.99 and its 200-day moving average price is $15.57. SLR Investment has a 52 week low of $13.93 and a 52 week high of $16.77.

SLR Investment (NASDAQ:SLRC) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.44 EPS for the quarter, hitting the consensus estimate of $0.44. SLR Investment had a net margin of 41.66% and a return on equity of 9.51%. The firm had revenue of $58.10 million for the quarter, compared to analysts’ expectations of $58.96 million. On average, analysts forecast that SLR Investment will post 1.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SLRC. JPMorgan Chase & Co. cut shares of SLR Investment from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $15.50 to $15.00 in a research note on Monday, July 29th. B. Riley reaffirmed a “neutral” rating and issued a $17.00 price target (up previously from $16.00) on shares of SLR Investment in a report on Friday, May 10th. Keefe, Bruyette & Woods raised their price objective on SLR Investment from $15.50 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Wells Fargo & Company lifted their target price on SLR Investment from $12.50 to $13.00 and gave the stock an “underweight” rating in a report on Friday, July 26th. Finally, StockNews.com assumed coverage on SLR Investment in a report on Tuesday, July 23rd. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, SLR Investment presently has an average rating of “Hold” and an average target price of $15.25.

Insiders Place Their Bets

In related news, President Robyn Tannenbaum purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was acquired at an average cost of $11.05 per share, for a total transaction of $33,150.00. Following the completion of the acquisition, the president now owns 24,959 shares in the company, valued at approximately $275,796.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, President Robyn Tannenbaum acquired 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was acquired at an average cost of $11.05 per share, for a total transaction of $33,150.00. Following the completion of the acquisition, the president now owns 24,959 shares in the company, valued at $275,796.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrea Colvin Roberts bought 25,000 shares of the stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $15.98 per share, for a total transaction of $399,500.00. Following the purchase, the director now directly owns 25,000 shares of the company’s stock, valued at $399,500. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 95,584 shares of company stock worth $1,255,125. 8.20% of the stock is currently owned by company insiders.

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.