PennantPark Floating Rate Capital: A 13.1% Yield From A Well-Managed BDC [Seeking Alpha]
PennantPark Floating Rate Capital Ltd. (PFLT)
Last pennantpark floating rate capital ltd. earnings: 2/5 04:05 pm
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US:NASDAQ Investor Relations:
pennantpark.com/our-funds/pflt
Company Research
Source: Seeking Alpha
SummaryPennantPark Floating Rate Capital is a well-managed BDC with an emphasis on capital preservation through its portfolio of primarily senior secured loans.The company saw NAV growth during a difficult economic quarter, and it has just two loans on non-accrual status.NII was challenged by the drop in interest rates, but the company has plenty of spillover gains from prior quarters to maintain the dividend.The BDC sector has been one of the harder-hit sectors over the past 6 months, due to concerns surrounding the health of middle-market companies across America and their ability to pay their lenders. This has resulted in a material underperformance by the sector as compared to the overall market. As seen below, the VanEck Vectors BDC Income ETF (BIZD(Source: Yahoo Finance)While investors are right to be skittish about some riskier companies in this sector, I believe there are some attractive value opportunities to be had in the safer BDCs that have also been left behind. I believe
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PFLT
News
- Better Stock Than Its Sister: PennantPark Floating Rate Capital [Seeking Alpha]Seeking Alpha
- PennantPark (PFLT) Stock Moves -0.45%: What You Should Know [Yahoo! Finance]Yahoo! Finance
- PennantPark Floating Rate Capital Ltd. Schedules Earnings Release of Second Fiscal Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- PennantPark Floating Rate Capital Ltd. Schedules Earnings Release of Second Fiscal Quarter 2024 ResultsGlobeNewswire
- PennantPark Floating Rate Capital Ltd. Announces Monthly Distribution of $0.1025 per ShareGlobeNewswire
PFLT
Earnings
- 2/7/24 - Beat
PFLT
Sec Filings
- 4/18/24 - Form 8-K
- 4/3/24 - Form 8-K
- 4/2/24 - Form 8-K
- PFLT's page on the SEC website