Garrison Capital Inc. (NASDAQ:GARS) announced a quarterly dividend on Wednesday, August 9th, Wall Street Journal reports. Stockholders of record on Friday, September 8th will be paid a dividend of 0.28 per share by the investment management company on Friday, September 22nd. This represents a $1.12 annualized dividend and a dividend yield of 13.59%. The ex-dividend date is Thursday, September 7th.
Shares of Garrison Capital (GARS) traded down 0.12% during midday trading on Friday, hitting $8.24. The stock had a trading volume of 41,021 shares. The stock’s 50 day moving average price is $8.14 and its 200 day moving average price is $9.05. Garrison Capital has a 12 month low of $7.77 and a 12 month high of $10.98.
Garrison Capital (NASDAQ:GARS) last issued its quarterly earnings results on Tuesday, August 8th. The investment management company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The company had revenue of $9.03 million for the quarter, compared to the consensus estimate of $9.08 million. Garrison Capital had a positive return on equity of 8.33% and a negative net margin of 0.38%. On average, equities research analysts expect that Garrison Capital will post $1.11 earnings per share for the current year.
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In other news, CFO Brian S. Chase acquired 4,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $8.07 per share, with a total value of $32,280.00. Following the completion of the purchase, the chief financial officer now owns 46,135 shares of the company’s stock, valued at approximately $372,309.45. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.80% of the company’s stock.
Several research firms have recently weighed in on GARS. Zacks Investment Research upgraded Garrison Capital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Maxim Group reiterated a “buy” rating and set a $10.50 price objective on shares of Garrison Capital in a research report on Thursday, May 11th. National Securities reduced their price objective on Garrison Capital from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, May 15th. CIBC cut Garrison Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, May 12th. Finally, Citigroup Inc. reissued a “market perform” rating on shares of Garrison Capital in a research note on Friday, May 12th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Garrison Capital currently has a consensus rating of “Hold” and an average price target of $9.94.
About Garrison Capital
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.
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