Solar Capital Ltd. (SLRC) Upgraded to Hold at Zacks Investment Research
Solar Capital Ltd. (NASDAQ:SLRC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Solar Capital Ltd. is a closed-end investment company that invests primarily in leveraged companies, including middle market companies, in the form of senior secured loans, mezzanine loans, and equity securities. “
A number of other equities analysts have also recently issued reports on the stock. National Securities restated a “buy” rating and issued a $22.00 price objective on shares of Solar Capital in a research note on Thursday, November 3rd. Citigroup Inc. increased their price objective on shares of Solar Capital from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, August 16th. Deutsche Bank AG increased their price objective on shares of Solar Capital from $23.00 to $23.50 and gave the company a “buy” rating in a research note on Thursday, August 4th. Finally, Keefe, Bruyette & Woods set a $21.50 price objective on shares of Solar Capital and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Solar Capital has an average rating of “Buy” and a consensus price target of $21.67.
Shares of Solar Capital (NASDAQ:SLRC) opened at 20.65 on Tuesday. Solar Capital has a 52-week low of $15.05 and a 52-week high of $21.48. The firm’s 50 day moving average is $20.32 and its 200-day moving average is $19.82.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 7.67%. The ex-dividend date is Tuesday, December 13th. Solar Capital’s dividend payout ratio is currently 89.89%.
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Large investors have recently modified their holdings of the company. Raiff Partners Inc. bought a new stake in shares of Solar Capital during the second quarter worth approximately $191,000. Green Square Capital LLC bought a new stake in shares of Solar Capital during the second quarter worth approximately $198,000. Bbva Compass Bancshares Inc. bought a new stake in shares of Solar Capital during the second quarter worth approximately $204,000. KCG Holdings Inc. raised its stake in shares of Solar Capital by 7.4% in the second quarter. KCG Holdings Inc. now owns 11,164 shares of the company’s stock worth $213,000 after buying an additional 770 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Solar Capital during the second quarter worth approximately $218,000. 60.23% of the stock is currently owned by hedge funds and other institutional investors.
About Solar Capital
Solar Capital Ltd. is a management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in the United States middle market companies. It invests primarily in leveraged middle markets companies in the form of senior secured loans, mezzanine loans and equity securities.
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