SLR Investment Corp. (SLRC) To Go Ex-Dividend on June 13th

SLR Investment Corp. (NASDAQ:SLRC) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders of record on Thursday, June 13th will be given a dividend of 0.41 per share by the financial services provider on Thursday, June 27th. This represents a $1.64 annualized dividend and a yield of 10.17%. The ex-dividend date is Thursday, June 13th.

SLR Investment has a dividend payout ratio of 102.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect SLR Investment to earn $1.60 per share next year, which means the company may not be able to cover its $1.64 annual dividend with an expected future payout ratio of 102.5%.

SLR Investment Stock Up 0.8 %

NASDAQ:SLRC traded up $0.12 during mid-day trading on Friday, hitting $16.12. The company had a trading volume of 83,429 shares, compared to its average volume of 182,099. The business has a fifty day simple moving average of $15.26 and a 200-day simple moving average of $15.09. The firm has a market capitalization of $879.43 million, a price-to-earnings ratio of 11.49 and a beta of 1.10. SLR Investment has a 1 year low of $13.48 and a 1 year high of $16.14. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.19.

SLR Investment (NASDAQ:SLRC) last released its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $59.79 million during the quarter, compared to analysts’ expectations of $59.00 million. SLR Investment had a return on equity of 9.36% and a net margin of 33.31%. Equities analysts forecast that SLR Investment will post 1.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SLRC shares. JPMorgan Chase & Co. decreased their price objective on shares of SLR Investment from $15.50 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. B. Riley restated a “neutral” rating and set a $17.00 price objective (up previously from $16.00) on shares of SLR Investment in a research note on Friday. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.50.

Insider Buying and Selling

In other SLR Investment news, insider Michael S. Gross purchased 46,700 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $15.44 per share, with a total value of $721,048.00. Following the completion of the acquisition, the insider now owns 3,735,524 shares in the company, valued at approximately $57,676,490.56. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Michael S. Gross purchased 46,700 shares of SLR Investment stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $15.44 per share, with a total value of $721,048.00. Following the purchase, the insider now owns 3,735,524 shares in the company, valued at approximately $57,676,490.56. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael S. Gross acquired 22,636 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average price of $15.74 per share, for a total transaction of $356,290.64. Following the purchase, the insider now directly owns 3,804,860 shares of the company’s stock, valued at $59,888,496.40. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 109,336 shares of company stock valued at $1,680,539. Insiders own 8.20% of the company’s stock.

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.