Trading Report: Today, Solar Capital Ltd. (SLRC) Rating Increased to Hold at The Zacks Investment Research

Today, Solar Capital Ltd. (SLRC) Rating Increased to Hold at The Zacks Investment Research

Solar Capital Ltd. (NASDAQ:SLRC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Solar Capital Ltd. is a closed-end investment company that invests primarily in leveraged companies, including middle market companies, in the form of senior secured loans, mezzanine loans, and equity securities. “

A number of other brokerages have also recently weighed in on SLRC. Deutsche Bank AG lifted their price target on shares of Solar Capital from $23.00 to $23.50 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Citigroup Inc. lifted their price target on shares of Solar Capital from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 16th. National Securities reissued a “buy” rating and set a $22.00 price target (up from $21.00) on shares of Solar Capital in a research report on Thursday, August 4th. Finally, Keefe, Bruyette & Woods set a $21.50 price target on shares of Solar Capital and gave the stock a “hold” rating in a research report on Wednesday, August 3rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $21.67.

Solar Capital (NASDAQ:SLRC) opened at 20.65 on Tuesday. Solar Capital has a 52-week low of $15.05 and a 52-week high of $21.48. The firm’s 50-day moving average price is $20.32 and its 200 day moving average price is $19.82.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Thursday, December 15th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $1.60 annualized dividend and a yield of 7.67%. Solar Capital’s payout ratio is currently 89.89%.

A number of large investors have recently modified their holdings of SLRC. Raiff Partners Inc. acquired a new stake in shares of Solar Capital during the second quarter valued at about $191,000. Green Square Capital LLC acquired a new stake in shares of Solar Capital during the second quarter valued at about $198,000. Bbva Compass Bancshares Inc. acquired a new stake in shares of Solar Capital during the second quarter valued at about $204,000. KCG Holdings Inc. raised its stake in shares of Solar Capital by 7.4% in the second quarter. KCG Holdings Inc. now owns 11,164 shares of the company’s stock valued at $213,000 after buying an additional 770 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Solar Capital during the second quarter valued at about $218,000. Hedge funds and other institutional investors own 60.23% of the company’s stock.

Solar Capital Company Profile

Solar Capital Ltd. is a management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in the United States middle market companies. It invests primarily in leveraged middle markets companies in the form of senior secured loans, mezzanine loans and equity securities.

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