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Ares Capital's Dividend, NAV, And Valuation Vs. 14 BDC Peers - Part 2 (Indications Of An Undervalued Stock)

Published Mon, 11 Mar 2019 06:51:01 -0400 on Seeking Alpha

Author’s Note: PART 1 of this article analyzed Ares Capital Corp.’s (ARCC) recent quarterly results and compared several of the company’s metrics to ten other business development company (“BDC”) peers. PART 1 helps lead to a better understanding of the topics and analysis that will be discussed in PART 2. The link to PART 1’s analysis is provided below:
Ares Capital's Dividend, NAV, And Valuation Versus 10 BDC Peers - Part 1 (Indications Of An Undervalued Stock)
This two-part article is a very detailed analysis comparing ARCC to some of the company’s BDC peers (currently all sector peers I cover). I am writing this two-part article due to the continued requests that such an analysis be specifically performed on ARCC and some of the company’s BDC peers at periodic intervals. For readers who just want the summarized conclusions/results, I would suggest to scroll down to the “Conclusions Drawn” section at the bottom of each part of the article.
Focus of Article:
The focus of PART 2 of this article is to compare ARCC’s recent dividend per share rates, yield percentages, and several other dividend sustainability metrics to fourteen other BDC peers. This analysis will show recent past data with supporting documentation within Table 3 below. This article will also project each company’s near-term dividend sustainability which is partially based on the metrics shown in Table 3 and several additional metrics shown in Table 4 below.
By analyzing... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
APOLLO INVESTMENT 16.03   15.9 1.01 1.80 11.26
PROSPECT CAPITAL 6.76   11.3 0.60 0.72 10.54
OAKTREE SPECIALTY LENDING 4.90   0.0 -1.39 0.50 10.02
TCP CAPITAL 14.52   20.2 0.72 1.44 9.84
PENNANTPARK FLOATING RATE CAPITAL 11.94   29.8 0.40 1.14 9.40
SOLAR CAPITAL 21.06   12.4 1.70 1.64 7.73
OAKTREE STRATEGIC INCOME 8.48   24.2 0.35 0.62 7.27
NEWTEK BUSINESS SERVICES 21.83   0.0 0.00 1.84 7.26
GOLUB CAPITAL BDC 17.78   14.6 1.22 1.28 7.20
MEDLEY CAPITAL 2.82   0.0 -1.55 0.20 7.12
GLADSTONE INVESTMENT 11.67   4.7 2.48 0.82 7.03
ALTRIA GROUP 52.40   16.0 3.28 3.20 6.06
MAIN STREET CAPITAL 40.65   14.1 2.89 2.40 5.86
MEDLEY MANAGEMENT 2.59   0.0 -0.35 0.12 4.56
BLACKROCK 435.76   16.4 26.55 13.20 3.01

APOLLO INVESTMENT - AINV
APOLLO INVESTMENT - AINV  


Older articles featuring Apollo Investment (AINV):
10% Yielding New Mountain Finance Receives Fitch Rating
Assessing Main Street Capital's 2019 Dividend Sustainability (Includes Special Periodic Dividend Projection)
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Gladstone Investment's Dividend Sustainability Analysis (Includes April-December 2019 And Fiscal 2020 Special Periodic...
Strong Buy With 12% Yield With 30%+ Return Potential: TCG BDC
Dividend Cuts For The High-Yield BDC Sector
Dividend Increases For The High-Yield BDC Sector, Part 4: Main Street Capital
Ares Capital's Dividend, NAV, And Valuation Versus 10 BDC Peers - Part 1 (Indications Of An Undervalued Stock)
Dividend Increases For The High-Yield BDC Sector, Part 3: TPG Specialty Lending

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