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MIAMI, Nov. 25, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) (the "Company") announced today financial results for the fourth quarter and fiscal year ended September 30, 2024.
PennantPark Floating Rate Capital focuses on first-lien floating rate loans, maintaining 87% allocation in senior secured debt. PFLT offers a high yield at ~10.7%, but coverage has been under pressure and should come further under pressure as the Fed cuts rates. PFLT is trading at a slight premium to its last reported NAV per share, which suggests that it isn't looking like a bargain currently.
MIAMI, Nov. 04, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) declares its monthly distribution for November 2024 of $0.1025 per share, payable on December 2, 2024 to stockholders of record as of November 15, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution ...
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I maintain my buy rating on PennantPark Floating Rate Capital due to its strong portfolio structure, consistent price range, and high dividend yield of 10.7%. PFLT's focus on first lien senior secured investments at a floating rate basis helps protect in varying interest rate environments. Despite a slight increase in non-accrual rates, PFLT's risk profile remains low, with potential relief fro...
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