PennantPark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. is a closed-end, externally managed, non-diversified investment company. It invests primarily in loans bearing a variable-rate of interest or floating rate loans, and other investments made to U.S. middle-market companies. The company was founded by Arthur Howard Penn on October 28, 2010 and is headquartered in New York, NY.

Earnings data Q2 2021

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PennantPark Floating Rate Capital reports solid Q4 performance and growth

PennantPark Floating Rate Capital delivered solid performance in Q4 2024 with growth in core net investment income and portfolio size.
The company's focus on core middle market lending, balanced capital structure, and prudent risk management are key strengths.
While facing challenges such as tightening market yields and NAV decrease, there are opportunities to optimize returns and further diversify the portfolio.

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MIAMI, Dec. 26, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (“PFLT”) (NYSE: PFLT) announced that it has upsized its credit facility, led by Truist Bank (the “Credit Facility”) to $736 million from $636 million. Pricing on this facility remained unchanged at SOFR plus 225 basis points.

PennantPark Floating Rate Capital Ltd. Upsizes Credit Facility to $736 Million

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As high-yield dividend stocks go, you can't get much higher than PennantPark Floating Rate Capital's (PFLT 0.36%) more than 11%. That hasn't made this business development company (BDC) a hit lately, though; its stock has fallen since Nov. 25 while the S&P 500 index inched into positive territory.

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Joint Venture to Continue to Target the Attractive Core Middle Market Joint Venture Is Generating Strong Returns MIAMI, Dec. 12, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (“PFLT”) (NYSE: PFLT) today announced it has agreed to expand its investment in PennantPark Senior Secured Loan Fund I LLC (“PSSL” or the “JV”).

PennantPark Floating Rate Capital Ltd. Announces Upsize of Joint Venture

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MIAMI, Dec. 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) declares its monthly distribution for December 2024 of $0.1025 per share, payable on January 2, 2025 to stockholders of record as of December 16, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission.

PennantPark Floating Rate Capital Ltd. Announces Monthly Distribution of $0.1025 per Share

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PennantPark Floating Rate Capital Ltd (NYSE:PFLT ) Q4 2024 Earnings Conference Call November 26, 2024 9:00 AM ET Company Participants Arthur Penn - Chairman & CEO Richard Allorto - Chief Financial Officer Conference Call Participants Paul Johnson - KBW Mark Hughes - Truist Doug Harter - UBS Operator Good morning, and welcome to PennantPark Floating Rate Capital's Fourth Fiscal Quarter 2024 Earnings Conference Call. Today's conference is being recorded.

PennantPark Floating Rate Capital Ltd (PFLT) Q4 2024 Earnings Call Transcript

MIAMI, Nov. 25, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) (the "Company") announced today financial results for the fourth quarter and fiscal year ended September 30, 2024.

PennantPark Floating Rate Capital Ltd. Announces Financial Results for the Fourth Quarter and Fiscal Year Ended September 30, 2024

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PennantPark Floating Rate Capital focuses on first-lien floating rate loans, maintaining 87% allocation in senior secured debt. PFLT offers a high yield at ~10.7%, but coverage has been under pressure and should come further under pressure as the Fed cuts rates. PFLT is trading at a slight premium to its last reported NAV per share, which suggests that it isn't looking like a bargain currently.

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I maintain my buy rating on PennantPark Floating Rate Capital due to its strong portfolio structure, consistent price range, and high dividend yield of 10.7%. PFLT's focus on first lien senior secured investments at a floating rate basis helps protect in varying interest rate environments. Despite a slight increase in non-accrual rates, PFLT's risk profile remains low, with potential relief from anticipated interest rate cuts.

PennantPark Floating Rate Capital: Weak Dividend Coverage Offset By Increased Investment Activity

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News for PennantPark Floating Rate Capital ETF (PFLT)