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

MidCap Financial Investment Co. (NASDAQ:MFIC) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 11.03%. The ex-dividend date of this dividend is Tuesday, March 11th.

MidCap Financial Investment has increased its dividend payment by an average of 6.1% per year over the last three years. MidCap Financial Investment has a payout ratio of 95.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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

NASDAQ MFIC opened at $13.78 on Friday. The company has a 50 day simple moving average of $13.83 and a 200-day simple moving average of $13.69. The company has a debt-to-equity ratio of 1.25, a current ratio of 8.51 and a quick ratio of 8.51. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 8.83 and a beta of 1.48. MidCap Financial Investment has a 52-week low of $12.26 and a 52-week high of $16.36.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. MidCap Financial Investment had a return on equity of 11.37% and a net margin of 37.05%. The company had revenue of $82.16 million for the quarter, compared to the consensus estimate of $86.28 million. Equities research analysts predict that MidCap Financial Investment will post 1.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on MFIC. Royal Bank of Canada restated a “sector perform” rating and issued a $14.00 price objective on shares of MidCap Financial Investment in a research note on Tuesday, November 19th. Wells Fargo & Company decreased their target price on MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.60.

About MidCap Financial Investment

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.