Profile
Sector:
Financial ServicesIndustry:
Asset ManagementCountry:
United StatesIPO:
19 April 2007Website:
http://pnnt.pennantpark.comNext earnings report:
15 November 2024Last dividends:
16 September 2024Next dividends:
16 October 2024Price
after hours | Fri, 04 Oct 2024 23:31:57 GMTAnalysts recommendations
Institutional Ownership
Included in screeners
PNNT Latest News
The short- to medium-term outlook for BDCs is challenging due to low M&A activity, high corporate distress, and yield compression from decreasing interest rates. To avoid income reduction risk, investors should focus on very high-quality BDCs. In this respect, one might think that those BDCs that have recently hiked their dividends are the ones with more sustainable cash distribution profiles.
MIAMI, Oct. 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) 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 Investment Corporation (the "Company") (NYSE: PNNT) declares its monthly distribution for October 2024 of $0.08 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.
Q3 and YTD results show a decline in investment income and NAV per share, with a focus on maintaining a balance between dividends and liquidity. Dividend situation is at its highest in almost a decade, but potential rate cuts may impact future distributions. Enhanced returns from joint venture opportunities may provide a boost in the long term, but for now, PNNT's yield faces modest headwinds.
PennantPark (PNNT) came out with quarterly earnings of $0.24 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.35 per share a year ago.
MIAMI, Aug. 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) declares its monthly distribution for August 2024 of $0.08 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 is a business development company, targeting profitable investments with steady cash flows, offering a 12.6% dividend yield. The price now trades at a less favorable discount to net asset value, which makes for a less attractive entry. PNNT's financial performance shows room for improvement, with rising non-accruals impacting net investment income and dividend coverage.
MIAMI, July 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) 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 Investment Corporation (the "Company") (NYSE: PNNT) declares its monthly distribution for July 2024 of $0.08 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.
PennantPark Investment Corp. reported Q2 earnings with net investment income below consensus but showed modest growth in their overall portfolio. The company has a solid portfolio quality but saw its non-accruals tick up during the recent quarter. The recent dividend increase is not covered by their current net investment income, but the company has ample liquidity in spillover income to sustain the dividend.
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What type of business is PennantPark Investment?
PennantPark Investment Corporation, a business development company is a private equity fund specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail. It invests in equity securities and debt transactions through preferred stock, common stock, warrants, options, senior secured debt, subordinated debt, subordinated loans, first lien debt, mezzanine loans, and distressed debt securities and private equity co-investments. It seeks to invest in companies based in the United States. The fund seeks to invest between $10 million and $100 million cross the capital structure (senior secured loans, subordinated debt, and other investments) in its portfolio companies with EBITDA between $10 to $50 million. Its mezzanine loans, senior secured loans, and other investments in its portfolio companies are between $15 million and $50 million. The fund may also make non-control equity and debt investments.
What sector is PennantPark Investment in?
PennantPark Investment is in the Financial Services sector
What industry is PennantPark Investment in?
PennantPark Investment is in the Asset Management industry
What country is PennantPark Investment from?
PennantPark Investment is headquartered in United States
When did PennantPark Investment go public?
PennantPark Investment initial public offering (IPO) was on 19 April 2007
What is PennantPark Investment website?
https://pnnt.pennantpark.com
Is PennantPark Investment in the S&P 500?
No, PennantPark Investment is not included in the S&P 500 index
Is PennantPark Investment in the NASDAQ 100?
No, PennantPark Investment is not included in the NASDAQ 100 index
Is PennantPark Investment in the Dow Jones?
No, PennantPark Investment is not included in the Dow Jones index
When was PennantPark Investment the previous earnings report?
No data
When does PennantPark Investment earnings report?
The next expected earnings date for PennantPark Investment is 15 November 2024