Portman Ridge Finance Co. (PTMN) To Go Ex-Dividend on May 23rd

Portman Ridge Finance Co. (NASDAQ:PTMNGet Rating) declared a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Stockholders of record on Tuesday, May 24th will be paid a dividend of 0.63 per share on Tuesday, June 7th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 11.26%. The ex-dividend date of this dividend is Monday, May 23rd.

Portman Ridge Finance has decreased its dividend payment by an average of 22.3% annually over the last three years and has raised its dividend every year for the last 1 years. Portman Ridge Finance has a payout ratio of 85.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Portman Ridge Finance stock opened at $22.39 on Friday. The stock has a market cap of $221.21 million, a PE ratio of 8.58 and a beta of 1.05. The stock has a 50-day moving average price of $23.60 and a 200 day moving average price of $24.27. Portman Ridge Finance has a 52 week low of $21.80 and a 52 week high of $25.97. The company has a current ratio of 2.55, a quick ratio of 5.09 and a debt-to-equity ratio of 1.25.

Portman Ridge Finance (NASDAQ:PTMNGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.82 EPS for the quarter, hitting analysts’ consensus estimates of $0.82. Portman Ridge Finance had a return on equity of 15.19% and a net margin of 28.00%. During the same quarter in the previous year, the firm posted $1.10 earnings per share. On average, equities analysts predict that Portman Ridge Finance will post 3 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. grew its holdings in Portman Ridge Finance by 52.2% in the 4th quarter. Advisors Asset Management Inc. now owns 64,154 shares of the company’s stock valued at $1,588,000 after buying an additional 22,008 shares during the period. BlackRock Inc. increased its stake in shares of Portman Ridge Finance by 9.4% during the 4th quarter. BlackRock Inc. now owns 62,270 shares of the company’s stock valued at $1,542,000 after acquiring an additional 5,339 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Portman Ridge Finance by 11.2% during the 4th quarter. Legal & General Group Plc now owns 52,681 shares of the company’s stock valued at $1,303,000 after acquiring an additional 5,292 shares during the last quarter. Morgan Stanley increased its stake in shares of Portman Ridge Finance by 9.6% during the 2nd quarter. Morgan Stanley now owns 284,435 shares of the company’s stock valued at $677,000 after acquiring an additional 24,843 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Portman Ridge Finance by 721.5% during the 2nd quarter. Bank of America Corp DE now owns 239,812 shares of the company’s stock valued at $570,000 after acquiring an additional 210,620 shares during the last quarter. Hedge funds and other institutional investors own 26.29% of the company’s stock.

About Portman Ridge Finance (Get Rating)

Portman Ridge Finance Corporation is a business development company specializing in investments in unitranche loans (including last out), first lien loans, second lien loans, subordinated debt, equity co-investment, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.

Further Reading

Dividend History for Portman Ridge Finance (NASDAQ:PTMN)

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