PennantPark Floating Rate Capital (PFLT) Dividend Gap Will Narrow - Citizens

Citizens analyst Brian McKenna reiterated a Market Outperform rating and $11.00 price target on PennantPark Floating Rate Capital (NYSE: PFLT).

The analyst commented, "while PFLT is still under-earning the quarterly dividend today ($0.28 per share of NII vs. the dividend of $0.31 per share), we expect this gap will narrow over the next few quarters as NII further normalizes, ultimately moving the dividend coverage ratio back to ~100% by the middle of calendar 2026, which should be well received by the market. So, we fully expect the firm will continue to pay its $1.23 per share annual dividend, equating to an elevated 13.5% dividend yield at current prices."

For an analyst ratings summary and ratings history on PennantPark Floating Rate Capital click here. For more ratings news on PennantPark Floating Rate Capital click here.

Shares of PennantPark Floating Rate Capital closed at $9.10 yesterday.

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