Texas Yale Capital Corp. trimmed its holdings in shares of Solar Capital Ltd. (NASDAQ:SLRC) by 50.0% in the second quarter, Holdings Channel reports. The firm owned 26,700 shares of the financial services provider’s stock after selling 26,700 shares during the period. Texas Yale Capital Corp.’s holdings in Solar Capital were worth $548,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of SLRC. Arlington Partners LLC acquired a new stake in shares of Solar Capital during the 2nd quarter worth about $38,000. PNC Financial Services Group Inc. acquired a new stake in shares of Solar Capital during the 1st quarter worth about $42,000. Glassman Wealth Services acquired a new stake in shares of Solar Capital during the 1st quarter worth about $165,000. Northern Trust Corp increased its position in shares of Solar Capital by 6.3% during the 4th quarter. Northern Trust Corp now owns 10,566 shares of the financial services provider’s stock worth $202,000 after purchasing an additional 624 shares during the last quarter. Finally, Cetera Advisors LLC acquired a new stake in shares of Solar Capital during the 1st quarter worth about $208,000. 58.03% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on SLRC shares. National Securities reissued a “buy” rating and set a $25.00 price objective on shares of Solar Capital in a research report on Wednesday, May 8th. Raymond James initiated coverage on Solar Capital in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $22.50 target price for the company. BidaskClub raised Solar Capital from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Zacks Investment Research downgraded Solar Capital from a “hold” rating to a “sell” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $22.70.
Solar Capital (NASDAQ:SLRC) last issued its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.44. The company had revenue of $38.68 million during the quarter, compared to analysts’ expectations of $40.38 million. Solar Capital had a return on equity of 8.05% and a net margin of 46.58%. On average, equities research analysts anticipate that Solar Capital Ltd. will post 1.78 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Thursday, September 19th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 8.15%. The ex-dividend date of this dividend is Wednesday, September 18th. Solar Capital’s payout ratio is currently 92.66%.
Solar Capital Company Profile
Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities.
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