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Hercules Capital Q4 NII rises on higher debt investment balance, core yield

Feb. 21, 2019 5:04 PM ETHercules Capital, Inc. (HTGC)By: Liz Kiesche, SA News Editor3 Comments
  • Hercules Capital (NYSE:HTGC) Q4 net investment income of $30.6M, or 32 cents per share, rises from $24.5M, or 29 cents, in the year-ago quarter, primarily due to a higher average debt investment balance between periods along with an increase in the core yield from 12.5% in Q4 2017 to 12.9% in Q4 2018.
  • Per-share NII beats the average analyst estimate by a penny.
  • Hercules Capital gains 0.5% in after-hours trading.
  • Q4 distributable net operating income of $33.9M, or 35 cents per share, vs. $26.1M, or 31 cents, a year earlier.
  • Effective yields on debt investment portfolio were 13.5% during Q4, the same level as Q3.
  • Net asset value per share decreased 4.6% to $9.90 as of Dec. 31, 2018 vs. $10.38 as of Sept. 30, 2018, primarily due to a change in unrealized depreciation during the quarter.
  • Previously: Hercules Capital beats by $0.01, beats on total investment income (Feb. 21)

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