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. The fund focuses on consumer loans, capital market activities, traditional direct lending but at times may purchase loans in the secondary market or make special situation investments. It seeks to invest between $5 million and $25 million in equity and between $10 million and $25 million in debt per transaction primarily in debt securities and loans with annual EBITDA between $5 million and $30 million, annual revenue between $50 million and $200 million. Its investments typically range in maturity from one to six years.
Industry, Sector and Symbol
Stock Exchange NASDAQ
Industry Investors, not elsewhere classified
Sub-IndustryN/A
SectorFinance
Current SymbolNASDAQ:GARS
Previous Symbol
CUSIPN/A
Phone212-372-9590
Debt
Debt-to-Equity Ratio1.35
Current Ratio3.11
Quick Ratio3.11
Price-To-Earnings
Trailing P/E Ratio7.03
Forward P/E Ratio7.75
P/E GrowthN/A
Sales & Book Value
Annual Sales$36.62 million
Price / Sales3.30
Cash Flow$1.0176 per share
Price / Cash7.39
Book Value$11.69 per share
Price / Book0.64
Profitability
EPS (Most Recent Fiscal Year)$1.07
Net Income$6.22 million
Net Margins25.90%
Return on Equity9.39%
Return on Assets3.99%
Miscellaneous
Employees71
Outstanding Shares16,050,000
Market Cap$120.85 million
OptionableOptionable
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 Thursday, November 8th. Investors of record on Friday, December 7th will be given a dividend of $0.23 per share on Friday, December 21st. This represents a $0.92 annualized dividend and a yield of 12.23%. The ex-dividend date is Thursday, December 6th. View Garrison Capital's Dividend History.
How were Garrison Capital's earnings last quarter?
Garrison Capital Inc (NASDAQ:GARS) announced its earnings results on Tuesday, November, 6th. The investment management company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.28 by $0.05. The investment management company earned $9.31 million during the quarter, compared to analyst estimates of $9.78 million. Garrison Capital had a net margin of 25.90% and a return on equity of 9.39%. View Garrison Capital's Earnings History.
When is Garrison Capital's next earnings date?
What price target have analysts set for GARS?
2 brokerages have issued 1 year price targets for Garrison Capital's stock. Their predictions range from $11.00 to $12.00. On average, they expect Garrison Capital's stock price to reach $11.50 in the next year. This suggests a possible upside of 52.9% 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. 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. " (11/13/2018)
- 2. National Securities analysts commented, " Garrison earned adjusted NII/share of $0.23 for 3Q18, five cents below our estimate and the quarterly dividend. The quarterly dividend was subsequently reduced to $0.23/share for 4Q18. We note that while we had expected the dividend to be maintained, we thought it would be done with fee waivers until it was able to be earned with a resumption of the incentive fee (slated to begin again in 4Q18).
We think the new dividend level reflects a view that spread compression will continue unabated and that there will be more purchases of syndicated loans going forward. While we expect spread widening from 1Q19-3Q19, we understand the rationale for setting the dividend at a level that doesn’t anticipate this. Additionally, we think a much higher concentration of UMM deals in the portfolio bodes well for NAV stability going forward.
Garrison received shareholder approval to reduce asset coverage to 150% (regulatory D/E of 2.00x) from 200% (regulatory D/E of 1.00x). Additionally, on 9/21/18 the company reset its CLO and obtained a 97 bps weighted average reduction in the spread over LIBOR, by our calculations. The company was also able to put $50.0 million as a revolver and retain the B tranche ($36.5 million), thus removing the need to deploy all of the new commitments in 4Q18 or be faced with a drag on earnings.
We are revising our 2018 adjusted NII/share estimate to $1.04 from $1.15 and our 2019 adjusted NII/share estimate to $1.04 from $1.21. We maintaining our BUY rating and our $11 price target. Shares closed 11/9/18 at 71% of NAV despite one portfolio company comprising 2.4% of the portfolio at cost being on non-accrual status." (11/12/2018)
- 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)
Has Garrison Capital been receiving favorable news coverage?
Press coverage about GARS stock has trended somewhat positive this week, according to InfoTrie Sentiment. InfoTrie rates the sentiment of news coverage by monitoring more than six thousand blog and news sources in real time. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Garrison Capital earned a coverage optimism score of 1.2 on InfoTrie's scale. They also gave news stories about the investment management company a news buzz of 9.0 out of 10, indicating that recent news coverage is extremely likely to have an effect on the company's share price in the near future.
Who are some of Garrison Capital's key competitors?
Some companies that are related to Garrison Capital include Capital Southwest (CSWC), Gladstone Investment (GAIN), Triplepoint Venture Growth BDC (TPVG), Arlington Asset Investment (AI), Oaktree Strategic Income (OCSI), THL Credit (TCRD), Stellus Capital Investment (SCM), Safeguard Scientifics (SFE), OFS Capital (OFS), Capitala Finance (CPTA), KCAP Financial (KCAP), CM Finance (CMFN), Elron Electronic Industries (ELRNF), Firsthand Technology Value Fund (SVVC) and 180 Degree Capital (TURN).
Who are Garrison Capital's key executives?
Garrison Capital's management team includes the folowing people:
- Mr. Joseph B. Tansey, Chairman & CEO (Age 45)
- Mr. Brian Steven Chase, Treasurer & CFO (Age 40)
- Ms. Michelle Rancic, Chief Accounting Officer (Age 39)
- Mr. Daniel Hahn, Controller
Who are Garrison Capital's major shareholders?
Garrison Capital's stock is owned by a number of of institutional and retail investors. Top institutional shareholders include Rivernorth Capital Management LLC (7.50%), Advisors Asset Management Inc. (2.08%), Clear Harbor Asset Management LLC (0.55%), Acadian Asset Management LLC (0.44%), B. Riley Financial Inc. (0.13%) and BlackRock Inc. (0.10%). 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 bought by a variety of institutional investors in the last quarter, including Clear Harbor Asset Management LLC, Advisors Asset Management Inc., Acadian Asset Management LLC and Connor Clark & Lunn Investment Management Ltd.. 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 $7.52.
How big of a company is Garrison Capital?
Garrison Capital has a market capitalization of $120.85 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.
What is Garrison Capital's official website?
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.
