Garrison Capital Inc (NASDAQ:GARS) announced a quarterly dividend on Tuesday, March 5th, NASDAQ reports. Stockholders of record on Friday, March 22nd will be given a dividend of 0.23 per share by the investment management company on Friday, March 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 12.27%. The ex-dividend date of this dividend is Thursday, March 21st.
Garrison Capital has decreased its dividend payment by an average of 8.6% annually over the last three years. Garrison Capital has a payout ratio of 82.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Garrison Capital to earn $0.93 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 98.9%.
NASDAQ:GARS opened at $7.50 on Wednesday. The firm has a market capitalization of $121.49 million, a P/E ratio of 7.43 and a beta of 0.68. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.75 and a current ratio of 1.75. Garrison Capital has a 12 month low of $6.03 and a 12 month high of $8.95.
Several research firms recently commented on GARS. Zacks Investment Research lowered Garrison Capital from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 4th. National Securities dropped their target price on Garrison Capital from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, March 11th.
In related news, CFO Daniel Hahn acquired 7,600 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was bought at an average price of $7.41 per share, for a total transaction of $56,316.00. Following the completion of the purchase, the chief financial officer now directly owns 13,200 shares of the company’s stock, valued at approximately $97,812. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Joseph Westwood acquired 5,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was bought at an average price of $7.49 per share, with a total value of $37,450.00. Following the purchase, the director now directly owns 20,800 shares of the company’s stock, valued at $155,792. The disclosure for this purchase can be found here. Insiders purchased 65,632 shares of company stock worth $489,582 in the last three months. 6.40% of the stock is currently owned by corporate insiders.
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Garrison Capital Company Profile
Garrison Capital Inc is a business development company specializing in investments primarily in the debt and equity of middle market companies. It seeks to invest in first lien senior secured loans, second lien senior secured loans, one-stop senior secured or unitranche loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies, warrants and minority equity securities in United States middle-market companies.
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