Carlyle Secured Lending, Inc. (NASDAQ:CGBD) Announces Quarterly Dividend of $0.48

Carlyle Secured Lending, Inc. (NASDAQ:CGBD) declared a quarterly dividend on Tuesday, February 20th, Zacks reports. Shareholders of record on Friday, March 29th will be paid a dividend of 0.48 per share on Wednesday, April 17th. This represents a $1.92 annualized dividend and a yield of 11.64%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from Carlyle Secured Lending’s previous quarterly dividend of $0.44.

Carlyle Secured Lending has raised its dividend payment by an average of 2.4% annually over the last three years and has raised its dividend every year for the last 3 years. Carlyle Secured Lending has a dividend payout ratio of 86.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Carlyle Secured Lending to earn $1.89 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 84.7%.

Carlyle Secured Lending Trading Up 0.7 %

Shares of CGBD opened at $16.49 on Tuesday. Carlyle Secured Lending has a 1-year low of $13.07 and a 1-year high of $16.63. The firm has a market capitalization of $837.53 million, a price-to-earnings ratio of 9.76 and a beta of 1.60. The firm’s 50-day moving average price is $15.67 and its 200-day moving average price is $15.03. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.14.

Carlyle Secured Lending (NASDAQ:CGBD) last posted its earnings results on Monday, February 26th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $62.69 million for the quarter, compared to the consensus estimate of $42.86 million. Carlyle Secured Lending had a return on equity of 12.80% and a net margin of 38.19%. During the same quarter in the prior year, the business earned $0.48 EPS. Sell-side analysts anticipate that Carlyle Secured Lending will post 2.03 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CGBD shares. Citigroup increased their price objective on Carlyle Secured Lending from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Wells Fargo & Company lifted their price target on shares of Carlyle Secured Lending from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new stake in shares of Carlyle Secured Lending in the second quarter worth $32,000. Tower Research Capital LLC TRC boosted its stake in Carlyle Secured Lending by 161.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,581 shares of the company’s stock worth $37,000 after purchasing an additional 1,593 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in Carlyle Secured Lending during the 1st quarter valued at about $118,000. Captrust Financial Advisors bought a new stake in Carlyle Secured Lending during the 3rd quarter valued at about $122,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in Carlyle Secured Lending by 106.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,849 shares of the company’s stock worth $132,000 after buying an additional 4,555 shares during the last quarter. Institutional investors own 24.51% of the company’s stock.

About Carlyle Secured Lending

Carlyle Secured Lending, Inc is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector.