Garrison Capital Inc. is a managed, closed-end, non-diversified management investment company. The Company's investment objective is to generate current income and capital appreciation by making investments primarily in debt securities and loans of the United States-based middle-market companies, which it defines as those having annual earnings before interest, taxes and depreciation, or EBITDA, of certain amount. It invests or provides direct lending in first lien senior secured loans, second lien senior secured loans, one-stop senior secured loans or unitranche loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies. The Company intends to generate risk-adjusted net returns by assembling a portfolio of investments. The Company's investment advisor is Garrison Capital Advisers LLC.
Industry, Sector and Symbol
Stock Exchange NASDAQ
Industry Investors, not elsewhere classified
Sub-IndustryN/A
SectorFinance
SymbolNASDAQ:GARS
CUSIPN/A
Phone212-372-9590
Debt
Debt-to-Equity Ratio1.29
Current Ratio1.56
Quick Ratio1.56
Price-To-Earnings
Trailing P/E Ratio7.85
Forward P/E Ratio7.71
P/E GrowthN/A
Sales & Book Value
Annual Sales$36.62 million
Price / Sales3.68
Cash Flow$1.0207 per share
Price / Cash8.23
Book Value$11.69 per share
Price / Book0.72
Profitability
EPS (Most Recent Fiscal Year)$1.07
Net Income$6.22 million
Net Margins33.79%
Return on Equity9.53%
Return on Assets4.22%
Miscellaneous
Employees71
Outstanding Shares16,050,000
Market Cap$134.65 million
Garrison Capital (NASDAQ:GARS) Frequently Asked Questions
What is Garrison Capital's stock symbol?
Garrison Capital trades on the NASDAQ under the ticker symbol "GARS."
How often does Garrison Capital pay dividends? What is the dividend yield for Garrison Capital?
Garrison Capital declared a quarterly dividend on Monday, May 14th. Investors of record on Friday, June 8th will be given a dividend of $0.28 per share on Friday, June 22nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 13.33%. The ex-dividend date is Thursday, June 7th. View Garrison Capital's Dividend History.
How were Garrison Capital's earnings last quarter?
Garrison Capital Inc (NASDAQ:GARS) released its quarterly earnings results on Tuesday, August, 7th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.28 by $0.01. The investment management company had revenue of $9.69 million for the quarter, compared to analyst estimates of $9.88 million. Garrison Capital had a net margin of 33.79% and a return on equity of 9.53%. View Garrison Capital's Earnings History.
When is Garrison Capital's next earnings date?
What price target have analysts set for GARS?
2 brokers have issued twelve-month price objectives for Garrison Capital's stock. Their predictions range from $11.00 to $11.00. On average, they expect Garrison Capital's share price to reach $11.00 in the next year. This suggests a possible upside of 31.0% from the stock's current price. View Analyst Price Targets for Garrison Capital.
What is the consensus analysts' recommendation for Garrison Capital?
2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Garrison Capital in the last year. There are currently 2 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for Garrison Capital.
What are Wall Street analysts saying about Garrison Capital stock?
Here are some recent quotes from research analysts about Garrison Capital stock:
- 1. National Securities analysts commented, " Garrison earned adjusted NII/share of $0.27, a penny shy of the quarterly dividend and 3 cents below our estimate. The company is expected to resume earning its incentive fee in 4Q18 which would likely induce a dividend cut.
However, given the extremely shareholder friendly actions taken by the company we expect the company to waive its incentive fee during the quarter and thereafter for increased balance sheet leverage to permit dividend coverage without waivers.
At a 13.3% dividend yield and 27% discount to NAV/share, the market is pricing in a dividend reduction and further asset quality declines. We think that when the market is proven wrong about the dividend cut that it will be a major upward catalyst for the share price of GARS. Additionally, we expect that with many legacy, non-sponsor LMM investments now written off or repaid, the remaining UMM book has a far lower likelihood of going on non-accrual which bodes well for NAV stability going forward and should thus improve the NAV multiple that the stock trades at.
After 9/30/18, GARS has the ability to refinance its MM CLO. We model the weighted average spread to be reduced by 99 bps during the quarter and for the CLO to be upsized by $140 million. Subsequent to 4Q18, we think the revolving note will pay down modestly in favor of more SBA debentures to keep regulatory leverage near or below Garrison’s reduced asset coverage target of 1.75x.
We are revising our 2018 adjusted NII/share estimate to $1.15 from $1.14 and are maintaining 2019 adjusted NII/share estimate of $1.21. We maintaining our BUY rating and increasing our price target to $11 from $10." (8/13/2018)
- 2. According to Zacks Investment Research, "Garrison Capital Inc. is an externally managed, closed-end, non-diversified management investment company. The Company's investment objective is to generate current income and capital appreciation by making investments primarily in debt securities and loans of the United States-based middle-market companies, which it defines as those having annual earnings before interest, taxes and depreciation, or EBITDA of certain amount. It invests or provides direct lending in first lien senior secured loans, second lien senior secured loans, one-stop senior secured loans or unitranche loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies. The Company intends to generate risk-adjusted net returns by assembling a portfolio of investments. The Company's investments include debt investments, preferred and minority equity investments (equity) of diversified companies and a portfolio of unsecured small balance consumer loans. " (8/10/2018)
- 3. Maxim Group analysts commented, "GARS reported 2Q18 EPS of $0.18 versus its dividend of $0.28, so NAV was down 0.9%, to $11.44. We are maintaining our 2018 dividend estimate of $1.12, representing a yield of 13.3%, covered by earnings in the remaining two quarters of 2018. Earnings should be helped by the 4Q18 refinancing of GARS’ CLO. As GARS has now resolved most of its legacy problem loans, we are now valuing it closer to peers that have not encountered difficulties. Our price target of $11 equates to 0.96x NAV, a discount to the 1.0x NAV level at which we believe well-performing BDCs should trade in the current environment." (8/9/2018)
Who are some of Garrison Capital's key competitors?
Some companies that are related to Garrison Capital include PennantPark Investment (PNNT), Pennantpark Floating Rate Capital (PFLT), Gladstone Investment (GAIN), Capital Southwest (CSWC), Arlington Asset Investment (AI), THL Credit (TCRD), Oaktree Strategic Income (OCSI), TRIPLEPOINT VEN/COM (TPVG), Safeguard Scientifics (SFE), Stellus Capital Investment (SCM), OFS Capital (OFS), Capitala Finance (CPTA), CM Finance (CMFN), Amern Cap Sr Fl/COM (ACSF) and KCAP Financial (KCAP).
Who are Garrison Capital's key executives?
Garrison Capital's management team includes the folowing people:
- Joseph B. Tansey, Chairman of the Board, Chief Executive Officer (Age 42)
- Brian S Chase, Chief Financial Officer, Treasurer, interim Chief Compliance Officer, interim Secretary and Director (Age 39)
- Cecil E. Martin Jr., Independent Director (Age 75)
- Joseph L. Morea, Independent Director (Age 62)
- Matthew J. Westwood CPA, Independent Director (Age 44)
Has Garrison Capital been receiving favorable news coverage?
Media stories about GARS stock have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research firm scores the sentiment of media coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Garrison Capital earned a news impact score of 0.15 on Accern's scale. They also assigned media stories about the investment management company an impact score of 46.63 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company's share price in the near term. View Recent Headlines for Garrison Capital.
Who are Garrison Capital's major shareholders?
Garrison Capital's stock is owned by many different of institutional and retail investors. Top institutional shareholders include Advisors Asset Management Inc. (1.71%), BlackRock Inc. (0.49%), B. Riley Financial Inc. (0.31%), Acadian Asset Management LLC (0.24%), Macquarie Group Ltd. (0.16%) and Oppenheimer & Co. Inc. (0.13%). Company insiders that own Garrison Capital stock include Brian S Chase, Cecil E Martin Jr, Joseph Bertrand Tansey and Joseph Morea. View Institutional Ownership Trends for Garrison Capital.
Which major investors are selling Garrison Capital stock?
Which major investors are buying Garrison Capital stock?
GARS stock was purchased by a variety of institutional investors in the last quarter, including Advisors Asset Management Inc., Macquarie Group Ltd. and Acadian Asset Management LLC. Company insiders that have bought Garrison Capital stock in the last two years include Brian S Chase, Cecil E Martin Jr, Joseph Bertrand Tansey and Joseph Morea. View Insider Buying and Selling for Garrison Capital.
How do I buy shares of Garrison Capital?
Shares of GARS can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Garrison Capital's stock price today?
One share of GARS stock can currently be purchased for approximately $8.40.
How big of a company is Garrison Capital?
Garrison Capital has a market capitalization of $134.65 million and generates $36.62 million in revenue each year. The investment management company earns $6.22 million in net income (profit) each year or $1.07 on an earnings per share basis. Garrison Capital employs 71 workers across the globe.
How can I contact Garrison Capital?
Garrison Capital's mailing address is 1290 AVENUE OF THE AMERICAS SUITE 914, NEW YORK NY, 10104. The investment management company can be reached via phone at 212-372-9590.
MarketBeat Community Rating for Garrison Capital (NASDAQ GARS)
MarketBeat's community ratings are surveys of what our community members think about Garrison Capital and other stocks. Vote "Outperform" if you believe GARS will outperform the S&P 500 over the long term. Vote "Underperform" if you believe GARS will underperform the S&P 500 over the long term. You may vote once every thirty days.
