Profile
Sector:
Financial ServicesIndustry:
Asset ManagementCountry:
United StatesIPO:
08 April 2011Website:
http://pflt.pennantpark.comNext earnings report:
09 August 2024Last dividends:
14 June 2024Next dividends:
15 July 2024Price
after hours | Wed, 03 Jul 2024 20:50:22 GMTAnalysts recommendations
Institutional Ownership
PFLT Latest News
MIAMI, July 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) announced that it will report results for the third fiscal quarter ended June 30, 2024 on Wednesday, August 7, 2024 after the close of the financial markets.
MIAMI, July 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) declares its monthly distribution for July 2024 of $0.1025 per share, payable on August 1, 2024 to stockholders of record as of July 15, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission.
Dividend stocks have been Wall Street's unsung hero for decades. Although high-yield stocks can occasionally be more trouble than they're worth, this isn't always the case.
MIAMI, June 04, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) announced that as result of expanded lender partner relationships, it has upsized its credit facility, led by Truist Bank (the “Credit Facility”) to $611 million from $436 million. Pricing on this facility remained unchanged at SOFR plus 236 basis points.
MIAMI, June 04, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) declares its monthly distribution for June 2024 of $0.1025 per share, payable on July 1, 2024 to stockholders of record as of June 14, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission.
PennantPark Floating Rate Capital offers a chance to earn a steady high yield in the current environment of rising interest rates. Despite interest rate fluctuations in the past ten years, PFLT's price has remained stable and its distribution has never been reduced. While the price is slightly higher than its net asset value, I think it is a good time to invest as the price has consistently stayed within the range of $10-14 per share.
PennantPark Floating Rate Capital has a track record of providing consistent distributions and strong returns, surpassing its sister company PNNT. PFLT primarily focuses on first lien debt investments, which offer greater protection of principal compared to PNNT's investments in more subordinate debt and equity. PFLT stands to benefit from rising interest rates and widening spreads, and its dividend rate is expected to remain stable, making it a favorable choice for investors seeking income.
Zacks.com users have recently been watching PennantPark (PFLT) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
PennantPark (PFLT) closed at $11.27 in the latest trading session, marking a +0.18% move from the prior day.
In the latest trading session, PennantPark (PFLT) closed at $11.20, marking a +0.27% move from the previous day.
What type of business is PennantPark Floating Rate Capital?
PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments. It primarily invests between $10 million and $50 million in investments in senior secured loans and mezzanine debt. It seeks to invest in companies not rated by national rating agencies. The companies if rated would be between BB and CCC under the Standard & Poor's system. The fund invests 30% is invested in non-qualifying assets like investments in public companies whose securities are not thinly traded or do not have a market capitalization of less than $250 million, securities of middle-market companies located outside of the United States, high-yield bonds, distressed debt, private equity, securities of public companies that are not thinly traded, and investment companies as defined in the 1940 Act. Under normal conditions, the fund expects atleast 80 percent of its net assets plus any borrowings for investment purposes to be invested in Floating Rate Loans and investments with similar economic characteristics, including cash equivalents invested in money market funds. It expects to represent 65 percent of its portfolio through senior secured loans. In case of floating rate loans, it holds investments for a period of three to ten years.
What sector is PennantPark Floating Rate Capital in?
PennantPark Floating Rate Capital is in the Financial Services sector
What industry is PennantPark Floating Rate Capital in?
PennantPark Floating Rate Capital is in the Asset Management industry
What country is PennantPark Floating Rate Capital from?
PennantPark Floating Rate Capital is headquartered in United States
When did PennantPark Floating Rate Capital go public?
PennantPark Floating Rate Capital initial public offering (IPO) was on 08 April 2011
What is PennantPark Floating Rate Capital website?
https://pflt.pennantpark.com
Is PennantPark Floating Rate Capital in the S&P 500?
No, PennantPark Floating Rate Capital is not included in the S&P 500 index
Is PennantPark Floating Rate Capital in the NASDAQ 100?
No, PennantPark Floating Rate Capital is not included in the NASDAQ 100 index
Is PennantPark Floating Rate Capital in the Dow Jones?
No, PennantPark Floating Rate Capital is not included in the Dow Jones index
When does PennantPark Floating Rate Capital report earnings?
The next expected earnings date for PennantPark Floating Rate Capital is 09 August 2024