MidCap Financial Investment Co. Announces Quarterly Dividend of $0.38 (NASDAQ:MFIC)

MidCap Financial Investment Co. (NASDAQ:MFIC - Get Free Report) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be paid a dividend of 0.38 per share on Thursday, March 27th. This represents a $1.52 annualized dividend and a yield of 11.12%. The ex-dividend date is Tuesday, March 11th.

MidCap Financial Investment has increased its dividend payment by an average of 6.1% annually over the last three years. MidCap Financial Investment has a payout ratio of 95.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Analysts expect MidCap Financial Investment to earn $1.60 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 95.0%.

MidCap Financial Investment Price Performance

NASDAQ MFIC traded down $0.11 on Monday, hitting $13.67. 439,269 shares of the company were exchanged, compared to its average volume of 363,162. The firm has a 50 day moving average of $13.84 and a two-hundred day moving average of $13.70. The company has a market cap of $1.28 billion, a P/E ratio of 8.76 and a beta of 1.48. The company has a current ratio of 8.51, a quick ratio of 8.51 and a debt-to-equity ratio of 1.25. MidCap Financial Investment has a 1-year low of $12.26 and a 1-year high of $16.36.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. The firm had revenue of $82.16 million during the quarter, compared to analysts' expectations of $86.28 million. MidCap Financial Investment had a return on equity of 11.37% and a net margin of 37.05%. On average, equities analysts predict that MidCap Financial Investment will post 1.73 EPS for the current year.

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Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MFIC. Wells Fargo & Company dropped their price objective on MidCap Financial Investment from $15.00 to $14.00 and set an "overweight" rating for the company in a report on Thursday. Royal Bank of Canada reissued a "sector perform" rating and set a $14.00 price objective on shares of MidCap Financial Investment in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, MidCap Financial Investment has an average rating of "Moderate Buy" and an average price target of $14.60.

About MidCap Financial Investment

MidCap Financial Investment Corporation (Former name Apollo Investment Corporation) is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.