SA News • Tue, Nov. 11
There are no Focus articles on CPTA.
There are no Transcripts on CPTA.
Tue, Nov. 11, 11:22 AM
- Q3 net investment income of $3.5M of $0.27 per share (vs. dividend of $0.47) falls from $5.4M a year ago thanks to June's sale of $113.4M of 7.125% notes, the proceeds of which were not immediately deployed. Capitala (CPTA -4.8%) reports $21.5M of investments in Q4 have effectively completed that deployment. "Management continues to be focused on covering future distributions with core net investment income."
- Net asset value per share of $19.89 slips from $20.71 at the start of the year.
- Previously: Capitala Finance reports Q3 profit
Mon, Nov. 10, 5:47 PM
Tue, Aug. 12, 9:20 AM
Tue, Aug. 12, 8:41 AM
- Net investment income of $5.6M of $0.43 per share vs. $4.7M a year ago (no per share number from a year ago; IPO was last September). Dividend of $0.47.
- Net increase in net assets from operations of $6.2M or $0.48 per share vs. $11.6M a year ago.
- NAV per share of $20.34 vs. $20.71 at start of year. Last night's close was $18.66.
- New originations during Q of $22.6M; repayments received of $9.4M. $42.2M of originations during Q3 so far.
- Investment portfolio of 45 companies with fair market value of $405.6M and cost basis of $347.7M. Four debt investments representing 1.4% of the portfolio are on non-accrual status and are being carried at about 64.3% of cost.
- Conference call is underway
- Previously: Capitala Finance NII in-line, beats on investment income
- CPTA flat premarket
Tue, Aug. 12, 8:21 AM| Comment!
Tue, Jul. 1, 9:16 AM| 1 Comment
Thu, Jun. 26, 3:48 PM
- Leading the way are THL Credit (TCRD +4.1%), Fidus Investment (FDUS +4.6%), NGP Capital Resources (NGPC +3.2%), and BlackRock Kelso (BKCC +3.2%), but the entire BDC sector is lit up bright green a day ahead of its stocks being removed from the Russell indices.
- A selection of others: Prospect Capital (PSEC +0.5%), Ares Capital (ARCC +1.9%), TPG Specialty Lending (TSLX +0.8%), Triangle Capital (TCAP +3.7%), TICC Capital (TICC +2.2%), PennantPark (PNNT +2.7%), Medley Capital (MCC +2.1%), TCP Capital (TCPC +2.2%), Gladstone Commerical (GLAD +2.8%), Capitala Finance (CPTA +2.7%).
- Previously: London Stock Exchange to acquire Frank Russell for $2.7B
- ETFs: BDCL, BDCS, BIZD
Fri, May. 23, 7:36 AM
- The selloff in BDCs is a buying opportunity, writes BDC reporter, noting the opportunity today to invest in a basket of BDCs (using BDCS as a proxy) at an 11% higher yield than just three months ago. The sector is yielding 43% more than high yield bonds (HYG) and nearly double floating rate loans (BKLN).
- The higher yield, of course, reflects market concern distributions are set to fall (and BKCC and MCGC cut in Q1), but for the sector as a whole, distributions have been fairly stable over the last three years. Further, a number of players are under-leveraged or in growth phase, and occasionally have realized gains which are paid out as special distributions.
- Keep this list around, says BDC Reporter, musing on those who may boost payouts over the next year: ACAS, ARCC, ACRE, ACSF, CPTA, FDUS, FSFR, FULL, HCAP, HTGC, MAIN, MVC, TAXI, PSEC, TCPC, TSLX
- ETFs: BDCL, BDCS, BIZD
Mon, May. 12, 6:42 PM| Comment!
Mon, May. 12, 4:35 PM
Tue, Mar. 11, 7:39 AM| Comment!
Thu, Mar. 6, 9:18 AM
Wed, Feb. 26, 1:16 PM
- WIth business development companies getting the boot from S&P indices, will the Russell follow suit? It's a significant issue as investors are far more heavily invested in BDCs though the Russell indices than through S&P, writes Brendan Conway. He notes ownership of BDCs by Russell-tracking index funds are as high as 38 days worth of trading volume, and Wells Fargo estimates there are 24 BDCs where 10 or more days of average volume would be required to unload them.
- Wells, however, does not see Russell following S&P's lead, with item #1 being Russell's desire to "represent small cap reality." "Russell Indices receive acclaim because they are willing to provide investors access to the true investable small cap universe. To the extent BDCs are excluded, this would deprive investors the opportunity to invest in what has become a very large/growing industry."
- The following list is those BDCs with 10 or more days of average volume in index funds tracking Russell indices.
- NGPC 38.23 days of volume, CSWC 29 days, SCM 23.5, FDUS 20.7, GARS 20, MVC 19.7, SUNS 18, WHF 17.8, SLRC 17.2, CPTA 16, MCGC 15.1, BKCC 14.9, TCRD 14, HRZN 14, TCAP 13.9, PNNT 13.3, HTGC 12.6, TICC 12.6, GLAD, 12.4, GBDC 12.3, KCAP 12.2, TAXI 11.8, MAIN 11.4, NMFC 9.98.
- Related ETFs: BDCL, BDCS, BIZD
- Other major names - no doubt included in the indices, but whose holdings are less than 10 days of average trading volume: PSEC, FSC, ARCC, AINV, MCC, HTGC, TCPC, FULL, GBDC
Nov. 13, 2013, 7:47 AM
Sep. 25, 2013, 11:56 AM
CPTA vs. ETF Alternatives
Capitala Finance Corp is an externally managed non-diversified closed-end management investment company. The Company's investment objective is to generate both current income and capital appreciation through debt and equity investments.
Other News & PR