Apollo Investment Corp. (NASDAQ:AINV) declared a quarterly dividend on Thursday, August 6th, Zacks reports. Shareholders of record on Monday, September 21st will be given a dividend of 0.31 per share by the asset manager on Wednesday, October 7th. This represents a $1.24 dividend on an annualized basis and a yield of 13.04%. The ex-dividend date is Friday, September 18th.
Apollo Investment has decreased its dividend payment by 14.4% over the last three years. Apollo Investment has a payout ratio of 78.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Apollo Investment to earn $1.42 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 87.3%.
NASDAQ AINV traded up $0.14 on Wednesday, reaching $9.51. 2,851 shares of the company were exchanged, compared to its average volume of 383,905. The business’s fifty day moving average price is $9.33 and its 200 day moving average price is $9.57. The stock has a market capitalization of $611.49 million, a P/E ratio of -4.55 and a beta of 1.73. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 1.76. Apollo Investment has a fifty-two week low of $5.20 and a fifty-two week high of $18.33.
AINV has been the topic of several recent analyst reports. Royal Bank of Canada upped their price target on Apollo Investment from $8.00 to $10.00 and gave the company a “sector perform” rating in a research note on Friday, May 22nd. ValuEngine lowered Apollo Investment from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. BMO Capital Markets decreased their price target on Apollo Investment from $16.00 to $11.00 and set a “market perform” rating on the stock in a research note on Friday, May 22nd. Zacks Investment Research lowered Apollo Investment from a “hold” rating to a “sell” rating in a research note on Tuesday, August 4th. Finally, TheStreet lowered Apollo Investment from a “c” rating to a “d+” rating in a research note on Thursday, June 4th. Five research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Apollo Investment currently has a consensus rating of “Hold” and a consensus price target of $8.54.
About Apollo Investment
Apollo Investment Corporation is business development company specializing in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products.
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