Saratoga Investment Corp (NYSE:SAR) declared a quarterly dividend on Wednesday, November 29th, NASDAQ reports. Investors of record on Friday, December 15th will be paid a dividend of 0.49 per share by the financial services provider on Wednesday, December 27th. This represents a $1.96 dividend on an annualized basis and a yield of 8.74%. The ex-dividend date of this dividend is Thursday, December 14th. This is a positive change from Saratoga Investment’s previous quarterly dividend of $0.48.
Saratoga Investment has a payout ratio of 85.2% 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 Saratoga Investment to earn $2.21 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 88.7%.
Saratoga Investment (SAR) opened at $22.42 on Friday. Saratoga Investment has a fifty-two week low of $17.56 and a fifty-two week high of $23.78. The firm has a market capitalization of $135.93, a price-to-earnings ratio of 11.67 and a beta of 0.48. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.11 and a quick ratio of 0.11.
A number of research analysts recently weighed in on the company. National Securities reiterated a “neutral” rating and issued a $23.00 target price on shares of Saratoga Investment in a report on Monday, October 16th. Compass Point upgraded Saratoga Investment from a “neutral” rating to a “buy” rating in a report on Friday, October 13th. Maxim Group assumed coverage on Saratoga Investment in a report on Thursday, September 7th. They issued a “buy” rating and a $23.00 target price on the stock. Janney Montgomery Scott assumed coverage on Saratoga Investment in a report on Friday, October 6th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research cut Saratoga Investment from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Saratoga Investment has an average rating of “Buy” and a consensus price target of $24.33.
An institutional investor recently bought a new position in Saratoga Investment stock. Northern Trust Corp acquired a new position in shares of Saratoga Investment Corp (NYSE:SAR) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,213 shares of the financial services provider’s stock, valued at approximately $213,000. Northern Trust Corp owned approximately 0.17% of Saratoga Investment at the end of the most recent reporting period. Institutional investors and hedge funds own 17.36% of the company’s stock.
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Saratoga Investment Company Profile
Saratoga Investment Corp. is a specialty finance company. The Company is an externally managed, closed-end, non-diversified management investment company. The Company invests primarily in leveraged loans and mezzanine debt issued by private middle-market companies in the United States. Its investment objective is to generate current income and, to a lesser extent, capital appreciation from its investments.
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