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Month-End BDC Stats 1/31/17

BDCs 01-31-17

Yield in the spreadsheet below is based on the Q4-16 'regular' dividend. Spreadsheet header abbreviations: Div = dividend; EPS = earnings per share; LTM = last twelve months; YTD = year to date. The last four columns measure the percentage change in the 2016 EPS projection; the change in the price target since the beginning of the year; the change in the Q1-16 dividend from the Q1-15 dividend; and the change in NAV between Q3-15 and Q3-14. Special dividends are not included in this data. ARCC, CPTA, FDUS, FSIC, MAIN and TCPC have paid special dividends on a near regular schedule. FULL has converted to Great Elm Capital Corp and trades as GECC. On 8-05 AINV cut its dividend from $0.20 to $0.15/quarter. On 8-09 MCC cuts its dividend from $0.30 to $0.22/quarter. On 9-22 CPTA announced a 17% cut in its dividend to $0.13/month. On 11-02 HRZN cut its dividend from $0.34 to $0.30/share. On 11-09 TCRD cut its div to $0.27/share from $0.34. On 11-09 CMFN announced a Q1-17 cut in its div to $0.25 from $0.35. On 11-09 GARS cut its Q4 div to $0.28 from $0.35. On 11-21 PNNT cut its Q1 div to $0.18 from $0.28. On 12-08 OHAI cut its div in half to $0.06. I have temporarily encoded these Q1 cuts as the Q4 div. On 12-14 KCAP reduced its div to $0.12 from $0.15.

    Share Price     Q3-16 Price YTD Percent Change LTM LTM
------- The_Company_name_and_stock_ticker ------- 1-01 01-31 Yield PWAY NAV NAV Price Pr+Div EPS Target Div NAV
Alcentra Capital Corporation (NASDAQ:ABDC) 11.97 12.01 11.32 11.80 13.69 0.88 0.33 3.17 0.00 0.00 0.00 -5.79
American Capital Senior Floating (NASDAQ:ACSF) 11.90 12.50 9.28 6.25 13.20 0.95 5.04 7.48 0.00 0.00 0.00 -14.37
Apollo Investment Corporation (NASDAQ:AINV) 5.86 5.86 10.24 11.00 6.95 0.84 0.00 2.56 0.00 -0.49 -25.00 -13.86
Ares Capital Corporation (NASDAQ:ARCC) 16.49 16.90 8.99 9.80 16.59 1.02 2.49 2.49 -0.62 1.92 0.00 -1.07
BlackRock Capital Investment (NASDAQ:BKCC) 6.96 7.24 11.60 11.40 8.38 0.86 4.02 7.04 0.00 0.00 0.00 -13.54
CM Finance Inc (NASDAQ:CMFN) 9.30 9.50 10.53 10.20 11.86 0.80 2.15 4.84 0.00 0.00 -27.95 -17.42
Capitala Finance Corp. (NASDAQ:CPTA) 12.93 13.82 11.29 12.70 15.68 0.88 6.88 6.88 0.00 0.00 -17.02 -9.30
Fidus Investment Corporation (NASDAQ:FDUS) 15.73 15.89 9.82 13.10 15.58 1.02 1.02 1.02 -2.47 1.75 0.00 2.24
Fifth Street Finance Corp. (FSC) 5.37 5.44 13.24 10.40 7.97 0.68 1.30 2.31 0.00 0.00 0.00 -10.73
Fifth Street Senior Floating Rate (FSFR) 8.71 10.18 8.84 8.60 11.06 0.92 16.88 16.88 0.00 0.00 0.00 -10.14
Franklin Square Investment Corp (NYSE:FSIC) 10.30 10.30 8.66 9.20 9.42 1.09 0.00 2.17 0.00 3.33 0.00 -7.18
Full Circle Capital Corporation (FULL) 2.67 2.67 15.73 10.46 3.59 0.74 0.00 0.00 0.00 0.00 0.00 -18.96
Gladstone Investment Corporation (NASDAQ:GAIN) 8.46 8.76 8.56 12.50 9.65 0.91 3.55 4.28 0.00 0.00 0.00 6.49
Garrison Capital Inc. (NASDAQ:GARS) 9.35 9.44 11.86 11.20 12.53 0.75 0.96 0.96 0.00 0.00 -20.00 -15.37
Golub Capital BDC, Inc. (NASDAQ:GBDC) 18.39 18.68 6.85 7.80 15.96 1.17 1.58 1.58 0.00 0.00 0.00 0.89
Gladstone Capital Corporation (NASDAQ:GLAD) 9.39 9.58 8.77 10.90 8.62 1.11 2.02 2.77 -1.16 0.00 0.00 -16.23
Goldman Sachs BDC (NYSE:GSBD) 23.52 23.75 7.58 11.80 18.58 1.28 0.98 2.89 0.00 1.40 0.00 -5.40
Harvest Capital Credit (NASDAQ:HCAP) 13.75 14.14 9.55 14.40 13.75 1.03 2.84 3.57 0.00 0.00 0.00 -5.25
    Share Price     Q3-16 Price YTD Percent Change LTM LTM
----The_Company_name_and_stock_ticker---- 1-01 01-31 Yield PWAY NAV NAV Price Pr+Div EPS Target Div NAV
Horizon Technology Finance Corp (NASDAQ:HRZN) 10.53 11.12 10.79 14.20 12.44 0.89 5.60 5.60 0.00 0.00 -13.04 -5.15
Hercules Capital (NASDAQ:HTGC) 14.11 14.13 8.78 13.50 9.86 1.43 0.14 0.14 0.76 1.73 0.00 -5.85
KCAP Financial,Inc. (NASDAQ:KCAP) 3.98 3.93 12.21 10.27 5.45 0.72 -1.26 1.76 0.00 0.00 -42.86 -21.70
Main Street Capital Corporation (NYSE:MAIN) 36.77 35.39 6.27 9.71 21.62 1.64 -3.75 -3.25 0.87 1.09 2.78 -3.34
Medley Capital Corporation (NYSE:MCC) 7.51 7.46 11.80 11.80 9.49 0.79 -0.67 -0.67 0.00 0.00 -26.67 -15.35
Monroe Capital Corporation (NASDAQ:MRCC) 15.38 15.26 9.17 9.70 14.42 1.06 -0.78 -0.78 0.00 0.00 0.00 2.26
New Mountain Finance Corp (NYSE:NMFC) 14.10 14.05 9.68 10.40 13.28 1.06 -0.35 -0.35 0.00 0.00 0.00 -4.82
OFS Capital Corporation (NASDAQ:OFS) 13.76 14.32 9.50 11.88 14.67 0.98 4.07 4.07 0.00 0.00 0.00 0.68
Oak Hill Advisors (NASDAQ:OHAI) 1.73 1.90 12.63 11.70 4.61 0.41 9.83 13.29 0.00 0.00 -50.00 -32.96
Prospect Capital Corporation (NASDAQ:PSEC) 8.35 8.42 11.88 12.80 9.60 0.88 0.84 1.74 0.00 0.00 0.00 -6.69
PennantPark Floating Rate Capital (NASDAQ:PFLT) 14.11 14.09 8.09 7.80 14.06 1.00 -0.14 0.46 0.00 0.00 0.00 -4.05
PennantPark Investment Corp (NASDAQ:PNNT) 7.66 7.89 9.13 11.90 9.05 0.87 3.00 5.35 -1.16 0.00 -35.71 -10.96
Saratoga Investment Corp. (NYSE:SAR) 20.61 20.60 7.96 10.50 22.39 0.92 -0.05 -0.05 -4.69 7.77 13.89 -2.81
Stellus Capital Investment (NYSE:SCM) 12.06 13.32 10.21 11.10 13.57 0.98 10.45 10.45 0.00 0.00 0.00 -6.35
Solar Capital Ltd. (NASDAQ:SLRC) 20.82 21.22 7.54 10.00 21.72 0.98 1.92 3.84 0.00 0.00 0.00 -1.87
Solar Senior Capital Ltd. (NASDAQ:SUNS) 16.44 16.75 8.42 8.20 16.78 1.00 1.89 4.03 0.00 0.00 0.00 -4.50
Medallion Financial Corp. (NASDAQ:MFIN) 3.02 2.25 8.89 11.09 11.61 0.19 -25.50 -25.50 0.00 0.00 -80.00 1.33
Triangle Capital Corp (NYSE:TCAP) 18.34 19.04 9.45 12.30 15.33 1.24 3.82 3.82 0.00 -0.53 -16.67 -4.20
TCP Capital Corp. (NASDAQ:TCPC) 16.90 16.36 8.80 11.20 14.84 1.10 -3.20 -3.20 0.00 0.29 0.00 -2.38
THL Credit, Inc. (NASDAQ:TCRD) 10.01 10.27 10.52 11.40 11.84 0.87 2.60 2.60 0.00 0.00 -20.59 -10.61
TICC Capital Corp. (TICC) 6.61 6.89 16.84 14.10 7.08 0.97 4.24 4.24 -5.88 0.00 0.00 -23.95
TriplePoint Venture Growth (NYSE:TPVG) 11.78 12.94 11.13 15.10 13.44 0.96 9.85 9.85 0.66 1.96 0.00 -10.25
TPG Specialty Lending (NYSE:TSLX) 18.68 18.27 8.54 10.30 15.78 1.16 -2.19 -0.11 0.00 0.00 0.00 -1.83
WhiteHorse Finance (NASDAQ:WHF) 12.17 12.48 11.38 12.10 13.48 0.93 2.55 5.46 0.00 0.00 0.00 -11.04
Sector Average     10.05     0.95 1.78 2.75 -0.33 0.48   -5.77
With the 10 Treasury at 2.44% and sector average yield on Q4 dividends at 10.05% - the spread is 761 bps.
The cap weighted ETF BDCS has a price change of -1.15% year to date - with dividends its total return is 0.81%.
The SPY or S&P 500 EFT is 1.79% year to date. - and with unreinvested dividends is 1.79% year to date.

Disclosure: I am/we are long AINV, ARCC, FDUS, MRCC, PFLT, PNNT, TCPC.