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

PennantPark Investment Co. (NASDAQ:PNNT) declared a monthly dividend on Monday, January 6th,Wall Street Journal reports. Stockholders of record on Wednesday, January 15th will be paid a dividend of 0.08 per share by the asset manager on Monday, February 3rd. This represents a $0.96 annualized dividend and a dividend yield of 13.50%. The ex-dividend date of this dividend is Wednesday, January 15th.

PennantPark Investment has increased its dividend by an average of 23.8% per year over the last three years. PennantPark Investment has a payout ratio of 112.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect PennantPark Investment to earn $0.87 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 110.3%.

PennantPark Investment Trading Down 1.1 %

Shares of PennantPark Investment stock opened at $7.11 on Monday. The business has a fifty day simple moving average of $6.95 and a 200-day simple moving average of $7.05. The firm has a market cap of $464.25 million, a price-to-earnings ratio of 41.83 and a beta of 1.47. PennantPark Investment has a fifty-two week low of $6.43 and a fifty-two week high of $8.04. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.56.

Wall Street Analysts Forecast Growth

Separately, LADENBURG THALM/SH SH lowered shares of PennantPark Investment from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.00.

About PennantPark Investment

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.