Saratoga Investment Corp (NYSE:SAR) to Issue $0.25 Monthly Dividend

Key Points

• Saratoga Investment Corp announced a monthly dividend of $0.25 per share, with an annualized yield of 12.2%, payable on December 18th to shareholders on record as of December 2nd.
• The company's stock opened at $24.57, with a market capitalization of $391.89 million and a price-to-earnings ratio of 9.95.
• Recent institutional investment activity included Bartlett & CO. Wealth Management increasing its stake by 300% and several other firms significantly boosting their positions in the stock.

Saratoga Investment Corp (NYSE:SAR - Get Free Report) declared a monthly dividend on Thursday, September 11th. Shareholders of record on Tuesday, December 2nd will be paid a dividend of 0.25 per share by the financial services provider on Thursday, December 18th. This represents a c) dividend on an annualized basis and a yield of 12.1%. The ex-dividend date is Tuesday, December 2nd.

Saratoga Investment Trading Up 1.9%

SAR stock traded up $0.47 during mid-day trading on Wednesday, reaching $24.71. The company had a trading volume of 35,469 shares, compared to its average volume of 115,853. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market capitalization of $394.14 million, a PE ratio of 10.01 and a beta of 0.67. The firm has a 50 day moving average of $25.01 and a 200 day moving average of $24.51. Saratoga Investment has a 12 month low of $21.10 and a 12 month high of $26.49.

Saratoga Investment (NYSE:SAR - Get Free Report) last released its quarterly earnings data on Tuesday, July 8th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.03). Saratoga Investment had a net margin of 24.85% and a return on equity of 12.71%. The business had revenue of $35.22 million for the quarter, compared to the consensus estimate of $32.75 million. On average, equities analysts predict that Saratoga Investment will post 3.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Compass Point downgraded shares of Saratoga Investment from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $25.25 to $24.25 in a research note on Monday, June 9th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $24.25.

About Saratoga Investment

Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity.