PennantPark Floating Rate Capital
Deploys public capital into senior-secured floating-rate loans to U.S. middle-market companies.
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Profile
Operates as an externally managed business development company that invests chiefly in first-lien senior-secured floating-rate loans to U.S. middle-market companies. Its investment activities are handled by an adviser under a contractual investment-management agreement.
Primarily makes first-lien, senior-secured floating-rate loans to U.S. middle-market companies and can hold other investments. Those middle-market loans are typically below investment grade.
Rather than operating as a conventional deposit-taking lender, the closed-end company is externally managed. Its investment adviser runs investment activities under a contractual management agreement, and the company pays a base management fee. Founder, chairman and CEO Arthur H. Penn is also the managing member of the adviser and administrator.
BDC status under the Investment Company Act of 1940 and RIC tax treatment define its regulatory framework. Securities offerings finance its investment objectives, while an emphasis on floating-rate senior-secured credit anchors its approach.
Company facts
Categories
Key statistics
Year to date −21.4% · Average volume (30d) 1.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 19, 2026 | Truist Financial | Target | $9 | |||
| Feb 11, 2026 | Maxim Group | Target | $11.50 | $10.50 | ||
| Oct 14, 2025 | UBS | Reiterate | Neutral | $9.50 | ||
| Oct 6, 2025 | Keefe, Bruyette & Woods | Upgrade | Market Perform | Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 10, 2026Q3 FY26 | $0.27 | $0.26 | −2.7% | $67.0M | $66.1M | −1.4% | +1.22% |
| May 7, 2026Q2 FY26 | $0.28 | $0.27 | −3.6% | $68.8M | $66.0M | −4.1% | −0.56% |
| Feb 9, 2026Q1 FY26 | $0.30 | $0.27 | −10.0% | $71.3M | $70.1M | −1.7% | −3.50% |
| Nov 24, 2025Q4 FY25 | $0.29 | $0.28 | −1.9% | $67.4M | $46.6M | −30.8% | −0.98% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $25.8M | $47.2M | $46.6M | $25.8M | $58.4M | $66.1M | |
| Gross profit | $3.3M | $24.6M | $20.8M | −$1.4M | $44.7M | $89.7M | |
| Operating income | $1.0M | $19.8M | $18.8M | −$4.0M | $54.3M | $32.6M | |
| Net income | $1.2M | $19.3M | $17.5M | −$3.6M | $28.7M | $7.6M | |
| Diluted EPS | $0.01 | $0.24 | $0.18 | −$0.04 | $0.29 | $0.08 | |
| Gross margin | 12.8% | 52.2% | 44.6% | -5.4% | 76.4% | 135.7% | |
| Operating margin | 3.9% | 42.0% | 40.3% | -15.5% | 92.9% | 49.3% |
Fiscal years (4-quarter sums)FY21 $83.6M · FY22 $41.4M · FY23 $80.3M · FY24 $167.8M · FY25 $181.6M
Balance sheet, Jun 30, 2026Cash & short-term investments $50.7M · Total debt $1.57B · Total assets $2.63B · Shareholders' equity $1.02B
Dividends
Raised for 13 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Sep 1 | $0.0833 | |
| Jul 15, 2026 | Jul 15 | Aug 3 | $0.0833 | cut from $0.1025 |
| Jun 15, 2026 | Jun 15 | Jul 1 | $0.0833 | special dividend |
| May 15, 2026 | May 15 | Jun 1 | $0.1025 | |
| Apr 15, 2026 | Apr 15 | May 1 | $0.1025 | |
| Mar 16, 2026 | Mar 16 | Apr 1 | $0.1025 | |
| Feb 17, 2026 | Feb 17 | Mar 2 | $0.1025 | |
| Jan 16, 2026 | Jan 16 | Feb 2 | $0.1025 |
Ownership
Shares outstanding 99.22M · Float 98.33M · 99.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Sound Income Strategies, LLC | 5.22M | 5.26% | 13F | Jul 20, 2026 |
| UBS Group AG | 3.09M | 3.11% | 13F | Aug 13, 2026 |
| Van Eck Associates Corp | 2.47M | 2.49% | 13F | Aug 14, 2026 |
| Invesco Ltd. | 1.80M | 1.81% | 13F | Aug 14, 2026 |
| Altshuler Shaham Ltd | 1.03M | 1.04% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 12, 2026 | Jose A. Briones | director | +5,770 | $8.67 |
| Mar 11, 2026 | Richard T. JR Allorto | officer: CFO and Treasurer | +15,000 | $8.15 |
| Feb 19, 2026 | Jose A. Briones | director | +5,895 | $8.48 |
| Dec 1, 2025 | Jose A. Briones | director | +5,500 | $9.10 |
Peers
- Ares Capital
Public BDC for senior direct lending to U.S. middle-market companies
- Blue Owl Capital
Externally managed BDC lending to U.S. middle-market companies
- Golub Capital BDC
One-stop and senior secured lender to middle-market companies
- BlackRock TCP Capital
Externally managed BDC focused on middle-market direct lending
- Barings BDC
Externally managed BDC investing in senior secured middle-market loans
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| PennantPark Floating Rate Capital | $7.35 | −0.49% | $733.2M | 14.5 | 6.9 | 3.1 | +35.8% |
| Ares Capital | $19.97 | +0.15% | $14.32B | 14.8 | 10.3 | 6.2 | +32.6% |
| Blue Owl Capital | $11.37 | +0.64% | $5.61B | 20.2 | 8.8 | 4.0 | −20.8% |
| Golub Capital BDC | $13.03 | +0.04% | $3.39B | 23.7 | 10.1 | 4.7 | −14.2% |
| BlackRock TCP Capital | $4.13 | +0.15% | $345.7M | — | 9.9 | 2.5 | +1,499.2% |
| Barings BDC | $9.37 | +0.21% | $979.0M | 11.3 | 9.0 | 3.8 | +42.3% |
| Median | 17.5 | 9.9 | 4.0 | +32.6% |