Carlyle Secured Lending, Inc. (NASDAQ:CGBD – Get Rating) announced a quarterly dividend on Monday, August 8th, Zacks reports. Shareholders of record on Friday, September 30th will be paid a dividend of 0.40 per share on Friday, October 14th. This represents a $1.60 dividend on an annualized basis and a yield of 12.92%. The ex-dividend date of this dividend is Thursday, September 29th. 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 last three years and has raised its dividend annually for the last 1 consecutive years. Carlyle Secured Lending has a payout ratio of 79.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities research analysts expect Carlyle Secured Lending to earn $1.73 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 78.6%.
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Carlyle Secured Lending Trading Up 1.7 %
Carlyle Secured Lending stock traded up $0.21 during trading hours on Tuesday, reaching $12.38. 6,525 shares of the company's stock were exchanged, compared to its average volume of 199,054. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.23. The firm's 50 day simple moving average is $13.84 and its 200 day simple moving average is $13.92. Carlyle Secured Lending has a twelve month low of $12.00 and a twelve month high of $14.96. The firm has a market capitalization of $641.90 million, a PE ratio of 6.30 and a beta of 1.62.
Carlyle Secured Lending (NASDAQ:CGBD – Get Rating) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. Carlyle Secured Lending had a return on equity of 10.40% and a net
margin of 65.03%. The firm had revenue of $35.99 million during the quarter, compared to the consensus estimate of $33.90 million. Research analysts predict that Carlyle Secured Lending will post 1.71 earnings per share for the current year.
Insider Transactions at Carlyle Secured Lending
In other Carlyle Secured Lending news, CFO Thomas M. Hennigan purchased 2,975 shares of the company's stock in a transaction that occurred on Wednesday, August 17th. The shares were acquired at an average price of $14.30 per share, with a total value of $42,542.50. Following the transaction, the chief financial officer now owns 65,255 shares in the company, valued at $933,146.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.56% of the company's stock.
Hedge Funds Weigh In On Carlyle Secured Lending
Several large investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd purchased a new stake in Carlyle Secured Lending in the 2nd quarter valued at about $32,000. Quantbot Technologies LP purchased a new stake in Carlyle Secured Lending in the 2nd quarter valued at about $173,000. Northern Trust Corp increased its stake in Carlyle Secured Lending by 15.9% in the 2nd quarter. Northern Trust Corp now owns 15,211 shares of the company's stock valued at $193,000 after buying an additional 2,084 shares during the last quarter. ExodusPoint Capital Management LP increased its stake in Carlyle Secured Lending by 9.5% in the 2nd quarter. ExodusPoint Capital Management LP now owns 16,015 shares of the company's stock valued at $203,000 after buying an additional 1,388 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Carlyle Secured Lending in the 2nd quarter valued at about $230,000. Institutional investors own 22.34% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on CGBD. Wells Fargo & Company increased their price objective on shares of Carlyle Secured Lending from $13.00 to $13.50 and gave the stock an "equal weight" rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. cut shares of Carlyle Secured Lending from an "overweight" rating to a "neutral" rating and set a $14.50 price objective on the stock. in a research report on Tuesday, September 6th.
About Carlyle Secured Lending
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TCG BDC, Inc is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector.
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