Carlyle Secured Lending, Inc. (NASDAQ: CGBD – Get a rating) declared a quarterly dividend on Monday, August 8, Zacks reports. Shareholders of record on Friday, September 30 will receive a dividend of 0.40 per share on Friday, October 14. This represents an annualized dividend of $1.60 and a dividend yield of 12.82%. The ex-date of this dividend is Thursday, September 29. This is a boost from Carlyle Secured Lending’s previous quarterly dividend of $0.32.
Carlyle Secured Lending has decreased its dividend payment by an average of 3.7% per year over the past three years and has increased its dividend each year for the past 1 consecutive years. Carlyle Secured Lending has a payout ratio of 79.1%, which means its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Carlyle Secured Lending to earn $1.73 per share next year, meaning the company should continue to be able to cover its $1.36 annual dividend with a ratio expected future payout of 78.6%.
Performance of Carlyle Secured Loan Stocks
Shares of NASDAQ:CGBD traded down $0.31 on Tuesday, hitting $12.48. The company had a trading volume of 4,241 shares, compared to an average volume of 199,054. Carlyle Secured Lending has a 1-year low of $12.00 and a 1-year high of $14.96. The stock has a market capitalization of $647.09 million, a price-earnings ratio of 6.15 and a beta of 1.62. The stock has a 50-day moving average price of $13.84 and a 200-day moving average price of $13.92. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt ratio of 1.23.
Carlyle Secured Loans (NASDAQ: CGBD – Get a rating) last released its quarterly results on Tuesday, August 9. The company reported EPS of $0.40 for the quarter, beating analyst consensus estimates of $0.38 by $0.02. The company posted revenue of $35.99 million for the quarter, versus analyst estimates of $33.90 million. Carlyle Secured Lending had a net margin of 65.03% and a return on equity of 10.40%. Analysts expect Carlyle Secured Lending to post EPS of 1.71 for the current year.
Insider Trading at Carlyle Secured Lending
In other news, CFO Thomas M. Hennigan bought 2,975 shares of the company in a transaction that took place on Wednesday, August 17. The shares were acquired at an average price of $14.30 per share, for a total transaction of $42,542.50. Following the completion of the acquisition, the CFO now directly owns 65,255 shares of the company, valued at $933,146.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, available at the SEC website. 0.56% of the shares are currently held by company insiders.
Institutional investors weigh in on Carlyle secured loans
Hedge funds and other institutional investors have recently changed their positions in the company. Point72 Hong Kong Ltd bought a new position in Carlyle Secured Lending in the second quarter, valued at around $32,000. Quantbot Technologies LP bought a new position in Carlyle Secured Lending in the second quarter worth approximately $173,000. Northern Trust Corp increased its stake in Carlyle Secured Lending by 15.9% in the second quarter. Northern Trust Corp now owns 15,211 shares of the company valued at $193,000 after acquiring 2,084 additional shares in the last quarter. ExodusPoint Capital Management LP increased its stake in the shares of Carlyle Secured Lending by 9.5% during the 2nd quarter. ExodusPoint Capital Management LP now owns 16,015 shares of the company valued at $203,000 after purchasing an additional 1,388 shares last quarter. Finally, Jane Street Group LLC purchased a new equity stake in Carlyle Secured Lending during Q2, valued at approximately $230,000. 22.34% of the stock is held by institutional investors.
Analysts set new price targets
A number of equity research analysts have recently released reports on the company. Wells Fargo & Company raised its price target on Carlyle Secured Lending from $13.00 to $13.50 and gave the stock an “equal weight” rating in a Thursday, August 11 research report. JPMorgan Chase & Co. cut shares of Carlyle Secured Lending from an “overweight” rating to a “neutral” rating and set a price target of $14.50 for the company. in a research report on Tuesday, September 6.
Carlyle Secured Loans Company Profile
TCG BDC, Inc is a business development company specializing in senior loans, senior secured loans, second unsecured loans, mezzanine loans and equity investments. It specializes in direct investment. It specializes in the middle market. It targets healthcare and pharmaceuticals, aerospace and defense, high-tech industries, business services, software, food beverages and tobacco, hospitality and leisure, banking, insurance and the real estate sector.
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