MidCap Financial Investment Co. (NASDAQ:MFIC) Plans 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 paid a dividend of 0.38 per share on Thursday, March 27th. This represents a $1.52 dividend on an annualized basis and a yield of 11.09%. The ex-dividend date of this dividend is Tuesday, March 11th.

MidCap Financial Investment has raised its dividend by an average of 6.1% annually over the last three years. MidCap Financial Investment has a dividend 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 fall. 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 Stock Down 0.3 %

Shares of NASDAQ:MFIC opened at $13.71 on Friday. The firm has a market cap of $1.29 billion, a P/E ratio of 8.79 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. The business’s 50 day simple moving average is $13.82 and its two-hundred day simple moving average is $13.69. The company has a debt-to-equity ratio of 1.25, a quick ratio of 8.51 and a current ratio of 8.51.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wells Fargo & Company decreased their target price on shares of MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $14.00 target price on shares of MidCap Financial Investment in a research note on Tuesday, November 19th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, 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.