Sumitomo Mitsui Trust Group Inc. Has $6.49 Million Stake in Carlyle Secured Lending, Inc. $CGBD

Key Points

• Sumitomo Mitsui Trust Group boosted its stake in Carlyle Secured Lending by 24.2% in Q4 to 519,735 shares worth $6.49 million, representing a 1.02% ownership position.
• Carlyle missed quarterly EPS ($0.33 vs. $0.38) with revenue slightly below estimates and paid a quarterly dividend of $0.40 (annualized $1.60), implying a 13.5% yield and a high payout ratio of 156.86%.
• Analyst sentiment is mixed: the consensus rating is Hold with a $13.20 target, while JPMorgan lowered its target to $10 and coverage splits into three Buy and five Hold ratings.

Sumitomo Mitsui Trust Group Inc. grew its holdings in Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Free Report) by 24.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 519,735 shares of the company's stock after acquiring an additional 101,242 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 1.02% of Carlyle Secured Lending worth $6,491,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Rossby Financial LCC acquired a new position in shares of Carlyle Secured Lending in the 3rd quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in Carlyle Secured Lending by 71.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company's stock worth $36,000 after buying an additional 1,100 shares during the period. State of Alaska Department of Revenue bought a new position in Carlyle Secured Lending in the third quarter valued at approximately $37,000. Tower Research Capital LLC TRC lifted its stake in Carlyle Secured Lending by 1,011.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,313 shares of the company's stock valued at $59,000 after buying an additional 3,925 shares in the last quarter. Finally, Security National Bank bought a new position in Carlyle Secured Lending in the third quarter valued at approximately $64,000. Institutional investors and hedge funds own 24.51% of the company's stock.

Insider Buying and Selling

In related news, Director John G. Nestor sold 4,401 shares of the firm's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $11.29, for a total value of $49,687.29. Following the completion of the transaction, the director owned 5,516 shares of the company's stock, valued at approximately $62,275.64. This trade represents a 44.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company's stock.

Carlyle Secured Lending Trading Up 2.2%

NASDAQ CGBD opened at $11.82 on Friday. The stock has a market capitalization of $828.94 million, a price-to-earnings ratio of 11.59 and a beta of 0.65. The stock's 50 day moving average price is $11.29 and its two-hundred day moving average price is $12.06. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.85 and a current ratio of 0.85. Carlyle Secured Lending, Inc. has a 52 week low of $10.61 and a 52 week high of $15.15.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.05). The business had revenue of $66.91 million for the quarter, compared to the consensus estimate of $67.26 million. Carlyle Secured Lending had a return on equity of 8.56% and a net margin of 27.38%. As a group, analysts anticipate that Carlyle Secured Lending, Inc. will post 1.97 earnings per share for the current fiscal year.

Carlyle Secured Lending Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Tuesday, March 31st were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.60 annualized dividend and a yield of 13.5%. Carlyle Secured Lending's dividend payout ratio is presently 156.86%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CGBD. JPMorgan Chase & Co. lowered their price objective on shares of Carlyle Secured Lending from $12.00 to $10.00 and set a "neutral" rating for the company in a research report on Friday, March 13th. Wall Street Zen raised shares of Carlyle Secured Lending from a "sell" rating to a "hold" rating in a research report on Saturday, January 3rd. B. Riley Financial raised shares of Carlyle Secured Lending from a "neutral" rating to a "buy" rating and set a $13.00 target price for the company in a research note on Wednesday, February 25th. Finally, Wells Fargo & Company lowered their target price on Carlyle Secured Lending from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Friday, February 27th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $13.20.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc NASDAQ: CGBD is a closed-end, non-diversified business development company that provides customized debt financing solutions to middle-market companies. Chartered under the Investment Company Act of 1940, the company invests primarily in floating-rate senior secured loans, including first-lien, unitranche and one-stop structures. Its objective is to generate current income and capital appreciation through disciplined credit selection and active portfolio management.

The firm focuses on U.S.

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