JP Morgan maintains SLR Investment (SLRC) with a neutral rating

Fintel reports that on Oct 23, 2023 JP Morgan maintained coverage on SLR Investment (NASDAQ:SLRC) with Neutral recommendation.

The analyst price forecast suggests a 7.81% upside

As of October 4, 2023, the average one-year price target for SLR Investment is 15.70. Estimates range from a low of $11.62 to a high of $19.95. The average price target represents a 7.81% increase from the last reported close price of 14.56.

See our ranking of companies with the largest price target growth.

Estimated annual revenue for SLR Investment is 226 million, an increase of 6.59%. Estimated annual non-GAAP EPS is 1.71.

SLR Investment declared a $0.14 dividend

On September 5, 2023, the company declared a regular monthly dividend of $0.14 per share ($1.64 annualized). Shareholders of record as of September 20, 2023 received the payment on September 28, 2023. Previously, the company paid $0.14 per share.

At the current share price of $14.56/share, the stock’s dividend yield is 11.26%.

Looking back five years and sampling each week, the average dividend yield was 9.52%, the lowest was 7.54%, and the highest was 19.81%. The standard deviation of the yields was 1.71 (n=195).

The current dividend yield is 1.02 standard deviations above the historical average.

The company has not increased its dividend in the last three years.

What is the mood of the fund?

There are 122 funds or institutions that report positions in SLR Investment. This is an increase of 6 owners or 5.17% in the last quarter. Average portfolio weight by all means devoted to SLRC was 0.28%, down from 12.36%. Total shares held by institutions increased over the past three months by 0.88% to 22,416 thousand shares. SLRC’s put/call ratio is 1.05, indicating a bearish outlook.

What are other shareholders doing?

SLRC / SLR Investment Corp shares held by institutions

Thornburg Investment Management owns 4,339K shares. No change in the last quarter.

TIBAX – Thornburg Investment Income Builder Fund – owns 4308K shares. No change in the last quarter.

Jpmorgan Chase owns 2,165K shares. In its previous filing, the firm reported that it owns 2,306K shares representing reduction from 6.53%. The company increased its portfolio allocation in SLRC by 532.69% in the last quarter.

Aristotle Capital Boston owns 1,639K shares. In its previous filing, the firm reported that it owns 1,597K shares representing raise from 2.58%. The company decreased its portfolio allocation in SLRC by 5.71% in the last quarter.

Ares Management owns 1,386K shares. No change in the last quarter.

Basic information on SLR investments
(This description is provided by the company.)

Solar Capital Ltd. is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. A specialty finance company with experience in several niche markets, the Company invests primarily directly and indirectly in leveraged, middle market companies in the US in the form of senior secured cash flow loans, including first lien and second lien debt instruments and asset based loans, including senior secured loans secured on a first lien basis primarily by current assets.

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This story originally appeared on Fintel.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.

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