Profile
Sector:
Financial ServicesIndustry:
Asset ManagementCountry:
United StatesIPO:
08 April 2011Website:
http://pflt.pennantpark.comNext earnings report:
25 November 2024Last dividends:
16 October 2024Next dividends:
N/APrice
after hours | 10 min agoAnalysts recommendations
Institutional Ownership
PFLT Latest News
MIAMI, Nov. 04, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) declares its monthly distribution for November 2024 of $0.1025 per share, payable on December 2, 2024 to stockholders of record as of November 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.
I maintain my buy rating on PennantPark Floating Rate Capital due to its strong portfolio structure, consistent price range, and high dividend yield of 10.7%. PFLT's focus on first lien senior secured investments at a floating rate basis helps protect in varying interest rate environments. Despite a slight increase in non-accrual rates, PFLT's risk profile remains low, with potential relief from anticipated interest rate cuts.
It doesn't take a huge investment to produce significant levels of passive income with these stocks.
MIAMI, Oct. 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) announced that it will report results for the fourth fiscal quarter ended September 30, 2024 on Monday, November 25, 2024 after the close of the financial markets.
MIAMI, Oct. 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) declares its monthly distribution for October 2024 of $0.1025 per share, payable on November 1, 2024 to stockholders of record as of October 16, 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.
The stock market sell-off has accelerated over the last month. Certain predictive metrics and events, such as the first notable decline in M2 money supply since the Great Depression, foreshadow trouble for Wall Street.
PennantPark Floating Rate Capital (NYSE:PFLT ) Q3 2024 Earnings Conference Call August 8, 2024 9:00 AM ET Corporate Participants Arthur Penn - Founder, Chairman and Chief Executive Officer Richard Allorto - Chief Financial Officer Conference Call Participants Brian McKenna - Citizens JMP Doug Harter - UBS Maxwell Fritscher - Truist Securities Operator Good morning and welcome to the PennantPark Floating Rate Capital's Third Fiscal Quarter 2024 Earnings Conference Call. Today's conference is being recorded.
PennantPark (PFLT) came out with quarterly earnings of $0.31 per share, missing the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.36 per share a year ago.
MIAMI, Aug. 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) declares its monthly distribution for August 2024 of $0.1025 per share, payable on September 3, 2024 to stockholders of record as of August 16, 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 operates as a business development company focusing on strategic debt investments in middle market companies. PFLT's consistent performance is supported by a diverse portfolio of 146 companies with EBITDA between $10M and $50M. The diverse and well-managed risk approach helps the BDC thrive. Anticipation of interest rate cuts may impact net investment income in the short term but could lead to faster growth opportunities for PFLT's portfolio in the long run.
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 was PennantPark Floating Rate Capital the previous earnings report?
No data
When does PennantPark Floating Rate Capital earnings report?
The next expected earnings date for PennantPark Floating Rate Capital is 25 November 2024