PennantPark Investment Corporation Stock News

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I am downgrading my rating on PennantPark Investment Corporation due to weak distribution coverage and a rising non-accrual rate, indicating lower portfolio quality. Despite a high dividend yield of 13.6%, PNNT's core net investment income is insufficient to cover distributions without relying on special dividends from the joint venture portfolio. PNNT's diversified portfolio includes 56% first...

The short- to medium-term outlook for BDCs is challenging due to low M&A activity, high corporate distress, and yield compression from decreasing interest rates. To avoid income reduction risk, investors should focus on very high-quality BDCs. In this respect, one might think that those BDCs that have recently hiked their dividends are the ones with more sustainable cash distribution profiles.

MIAMI, Oct. 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) announced that it will report results for the fourth fiscal quarter ended September 30, 2024 on Monday, November 25, 2024 after the close of the financial markets.

MIAMI, Oct. 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) declares its monthly distribution for October 2024 of $0.08 per share, payable on November 1, 2024 to stockholders of record as of October 16, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be ...

We take a look at the action in business development companies through the first week of September and highlight some of the key themes we are watching. BDCs were down around 1% this week, with lower valuation BDCs like MRCC, PSEC, and WHF outperforming. Investors should be cautious about NII figures, as preferred dividends can reduce the actual income available to common shareholders, impactin...

Joint Venture to Continue to Target the Attractive Core Middle Market Joint Venture Is Generating Strong Returns NEW YORK, Sept. 05, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (“PNNT”) (NYSE: PNNT) today announced it has agreed to expand its investment in PennantPark Senior Loan Fund, LLC (“PSLF” or the “JV”), its unconsolidated joint venture with the private credit investment ...

MIAMI, Sept. 04, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) declares its monthly distribution for September 2024 of $0.08 per share, payable on October 1, 2024 to stockholders of record as of September 16, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will...