MidCap Financial Investment Co. (NASDAQ:MFIC) to Issue Quarterly Dividend of $0.38

MidCap Financial Investment Co. (NASDAQ:MFIC) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be given a dividend of 0.38 per share on Thursday, March 27th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.09%. The ex-dividend date is Tuesday, March 11th.

MidCap Financial Investment has increased its dividend by an average of 6.1% per year over the last three years. MidCap Financial Investment has a payout ratio of 95.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect MidCap Financial Investment to earn $1.60 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 95.0%.

MidCap Financial Investment Price Performance

Shares of NASDAQ MFIC opened at $13.71 on Friday. The company has a current ratio of 8.51, a quick ratio of 8.51 and a debt-to-equity ratio of 1.25. The stock has a fifty day simple moving average of $13.82 and a two-hundred day simple moving average of $13.69. MidCap Financial Investment has a 1-year low of $12.26 and a 1-year high of $16.36. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 8.79 and a beta of 1.48.

MidCap Financial Investment (NASDAQ:MFIC) last posted its earnings results on Tuesday, February 25th. The company reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. MidCap Financial Investment had a net margin of 37.05% and a return on equity of 11.37%. The firm had revenue of $82.16 million during the quarter, compared to the consensus estimate of $86.28 million. Analysts anticipate that MidCap Financial Investment will post 1.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MFIC shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $14.00 price objective on shares of MidCap Financial Investment in a research note on Tuesday, November 19th. Wells Fargo & Company decreased their price target on MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.71.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (Former name Apollo Investment Corporation) is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.