PennantPark Investment Co. (NASDAQ:PNNT) Declares Monthly Dividend of $0.08

PennantPark Investment Co. (NASDAQ:PNNT) declared a monthly dividend on Wednesday, February 5th,Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be paid a dividend of 0.08 per share by the asset manager on Monday, March 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 13.45%. The ex-dividend date of this dividend is Tuesday, February 18th.

PennantPark Investment has raised its dividend by an average of 24.2% per year over the last three years. PennantPark Investment has a payout ratio of 112.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect PennantPark Investment to earn $0.86 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 111.6%.

PennantPark Investment Stock Performance

PennantPark Investment stock traded up $0.06 during midday trading on Thursday, reaching $7.14. 283,793 shares of the company traded hands, compared to its average volume of 501,904. PennantPark Investment has a 12 month low of $6.43 and a 12 month high of $8.04. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.51 and a quick ratio of 0.51. The business has a 50 day moving average of $6.97 and a two-hundred day moving average of $6.98. The firm has a market capitalization of $465.92 million, a price-to-earnings ratio of 41.97 and a beta of 1.47.

Analyst Upgrades and Downgrades

Separately, LADENBURG THALM/SH SH downgraded PennantPark Investment from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.00.

About PennantPark Investment

PennantPark Investment Corporation, a business development company is a private equity fund specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.