Apollo Investment Corp. (NASDAQ:AINV) announced a quarterly dividend on Thursday, May 16th, Zacks reports. Investors of record on Thursday, June 20th will be paid a dividend of 0.45 per share by the asset manager on Friday, July 5th. This represents a $1.80 annualized dividend and a dividend yield of 11.00%. The ex-dividend date is Wednesday, June 19th.
Apollo Investment has decreased its dividend payment by an average of 9.1% annually over the last three years. Apollo Investment has a payout ratio of 295.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Apollo Investment to earn $1.89 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 95.2%.
Shares of NASDAQ:AINV opened at $16.37 on Friday. The stock has a market cap of $1.12 billion, a P/E ratio of 9.04, a P/E/G ratio of 8.89 and a beta of 1.13. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.86. Apollo Investment has a one year low of $12.05 and a one year high of $18.00.
Apollo Investment (NASDAQ:AINV) last announced its earnings results on Thursday, May 16th. The asset manager reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02. The business had revenue of $61.41 million for the quarter, compared to the consensus estimate of $64.29 million. Apollo Investment had a return on equity of 9.48% and a net margin of 28.20%. The company’s revenue was down .1% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. On average, equities analysts forecast that Apollo Investment will post 1.82 earnings per share for the current year.
A hedge fund recently bought a new stake in Apollo Investment stock. Geode Capital Management LLC acquired a new position in shares of Apollo Investment Corp. (NASDAQ:AINV) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 11,866 shares of the asset manager’s stock, valued at approximately $146,000. 41.55% of the stock is owned by institutional investors and hedge funds.
AINV has been the topic of several analyst reports. BidaskClub downgraded Apollo Investment from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Zacks Investment Research downgraded Apollo Investment from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. ValuEngine downgraded Apollo Investment from a “hold” rating to a “sell” rating in a report on Friday, April 5th. National Securities restated a “neutral” rating and set a $18.00 price objective on shares of Apollo Investment in a report on Monday, May 20th. Finally, TheStreet upgraded Apollo Investment from a “c” rating to a “b-” rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Apollo Investment presently has an average rating of “Hold” and an average target price of $17.40.
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About Apollo Investment
Apollo Investment Corporation is business development company specializing in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products.
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