MidCap Financial Investment Corporation (NASDAQ:MFIC) Declares $0.31 Quarterly Dividend

MidCap Financial Investment Corporation (NASDAQ:MFIC) declared a quarterly dividend on Wednesday, August 5th. Investors of record on Tuesday, September 8th will be paid a dividend of 0.31 per share on Thursday, September 24th. This represents a c) dividend on an annualized basis and a yield of 12.8%. The ex-dividend date is Tuesday, September 8th.

MidCap Financial Investment has decreased its dividend by an average of 0.0%annually over the last three years. MidCap Financial Investment has a payout ratio of 82.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect MidCap Financial Investment to earn $1.22 per share next year, which means the company may not be able to cover its $1.24 annual dividend with an expected future payout ratio of 101.6%.

MidCap Financial Investment Stock Up 2.4%

MFIC stock traded up $0.23 during trading hours on Thursday, reaching $9.71. 1,297,103 shares of the stock were exchanged, compared to its average volume of 817,156. The firm’s 50-day moving average is $9.99 and its 200-day moving average is $10.73. MidCap Financial Investment has a 12 month low of $9.28 and a 12 month high of $13.34. The company has a market cap of $799.81 million, a price-to-earnings ratio of 242.81 and a beta of 0.61. The company has a debt-to-equity ratio of 1.59, a current ratio of 4.42 and a quick ratio of 4.42.

MidCap Financial Investment (NASDAQ:MFIC) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.58). The firm had revenue of ($9.12) million for the quarter, compared to analyst estimates of $67.80 million. MidCap Financial Investment had a return on equity of 10.86% and a net margin of 1.90%. On average, equities research analysts expect that MidCap Financial Investment will post 1.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MFIC shares. Weiss Ratings cut shares of MidCap Financial Investment from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th. JPMorgan Chase & Co. cut their price target on shares of MidCap Financial Investment from $10.00 to $9.50 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Finally, Wall Street Zen upgraded shares of MidCap Financial Investment from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.46.

About MidCap Financial Investment

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a business development company that provides financing solutions to middle-market companies across the United States. The firm specializes in direct lending and asset-based financing, offering a range of debt instruments designed to support working capital needs, equipment acquisitions, lease financing and corporate recapitalizations. Its focus on senior secured loans, unitranche structures and equipment financings positions it to serve clients in sectors such as manufacturing, healthcare, transportation and energy.

Through its lending platform, MidCap Financial Investment Corporation partners with privately held and sponsor-backed companies that typically generate annual revenues between $25 million and $500 million.