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

PennantPark Investment Co. (NASDAQ:PNNT - Get Free Report) announced a monthly dividend on Wednesday, February 5th,Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be given a dividend of 0.08 per share by the asset manager on Monday, March 3rd. This represents a $0.96 annualized dividend and a yield of 13.36%. The ex-dividend date is Tuesday, February 18th.

PennantPark Investment has increased its dividend by an average of 24.2% annually over the last three years. PennantPark Investment has a dividend 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. Equities research analysts expect PennantPark Investment to earn $0.85 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 112.9%.

PennantPark Investment Stock Performance

PNNT stock traded down $0.01 during trading on Monday, reaching $7.19. 463,863 shares of the stock were exchanged, compared to its average volume of 495,340. The stock has a 50 day simple moving average of $7.00 and a 200-day simple moving average of $6.98. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $469.18 million, a P/E ratio of 42.27 and a beta of 1.47. PennantPark Investment has a twelve month low of $6.43 and a twelve month high of $8.04.

Analyst Upgrades and Downgrades

Separately, LADENBURG THALM/SH SH lowered 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 issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $6.00.

PennantPark Investment Company Profile

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.