Garrison Capital Inc (NASDAQ:GARS) announced a quarterly dividend on Monday, August 12th, Zacks reports. Shareholders of record on Friday, September 6th will be given a dividend of 0.23 per share by the investment management company on Friday, September 20th. This represents a $0.92 dividend on an annualized basis and a yield of 13.14%. The ex-dividend date of this dividend is Thursday, September 5th.
Garrison Capital has decreased its dividend by an average of 8.6% per year over the last three years. Garrison Capital has a payout ratio of 82.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Garrison Capital to earn $0.90 per share next year, which means the company may not be able to cover its $0.92 annual dividend with an expected future payout ratio of 102.2%.
GARS stock remained flat at $$7.00 during mid-day trading on Tuesday. The company’s stock had a trading volume of 1,766 shares, compared to its average volume of 17,952. Garrison Capital has a 52 week low of $6.03 and a 52 week high of $8.84. The firm has a market capitalization of $112.35 million, a P/E ratio of 6.93 and a beta of 0.58. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 2.03. The stock’s fifty day moving average is $6.98.
A number of research firms have recently commented on GARS. Zacks Investment Research upgraded Garrison Capital from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 16th. ValuEngine downgraded Garrison Capital from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. TheStreet downgraded Garrison Capital from a “c” rating to a “d+” rating in a report on Monday, April 22nd. Finally, National Securities downgraded Garrison Capital from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $8.00 in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Garrison Capital currently has a consensus rating of “Hold” and an average target price of $9.33.
About Garrison Capital
Garrison Capital Inc is a business development company specializing in investments primarily in the debt and equity of middle market companies. It seeks to invest in first lien senior secured loans, second lien senior secured loans, one-stop senior secured or unitranche loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies, warrants and minority equity securities in United States middle-market companies.
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