Zacks Investment Research upgraded shares of Solar Senior Capital (NASDAQ:SUNS) from a sell rating to a hold rating in a report issued on Friday morning.

According to Zacks, “Solar Senior Capital Ltd. operates as a business development company under the Investment Company Act of 1940. The Company invests primarily in senior secured loans, including first lien, unitranche and second lien debt instruments, made to private middle-market companies whose debt is rated below investment grade. “

SUNS has been the topic of a number of other research reports. BidaskClub raised Solar Senior Capital from a sell rating to a hold rating in a research note on Thursday, July 19th. Maxim Group reissued a buy rating and issued a $18.50 price objective on shares of Solar Senior Capital in a research note on Tuesday, August 7th.

Shares of NASDAQ:SUNS opened at $15.91 on Friday. Solar Senior Capital has a fifty-two week low of $15.71 and a fifty-two week high of $18.40. The firm has a market capitalization of $255.20 million, a price-to-earnings ratio of 11.28 and a beta of 0.56. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.17.

Solar Senior Capital (NASDAQ:SUNS) last announced its quarterly earnings results on Monday, November 5th. The asset manager reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Solar Senior Capital had a return on equity of 8.41% and a net margin of 58.33%. The firm had revenue of $11.01 million for the quarter, compared to analysts’ expectations of $10.10 million. As a group, research analysts predict that Solar Senior Capital will post 1.41 EPS for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Wednesday, November 21st will be paid a $0.1175 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $1.41 dividend on an annualized basis and a yield of 8.86%. This is a positive change from Solar Senior Capital’s previous monthly dividend of $0.12. Solar Senior Capital’s payout ratio is currently 100.00%.

A number of institutional investors have recently bought and sold shares of SUNS. JPMorgan Chase & Co. lifted its stake in shares of Solar Senior Capital by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 811,612 shares of the asset manager’s stock valued at $13,562,000 after acquiring an additional 36,287 shares during the period. Resource America Inc. lifted its stake in Solar Senior Capital by 36.0% in the third quarter. Resource America Inc. now owns 113,034 shares of the asset manager’s stock valued at $1,889,000 after buying an additional 29,940 shares during the period. Mackenzie Financial Corp lifted its stake in Solar Senior Capital by 73.1% in the third quarter. Mackenzie Financial Corp now owns 69,249 shares of the asset manager’s stock valued at $1,157,000 after buying an additional 29,249 shares during the period. Nisa Investment Advisors LLC lifted its stake in Solar Senior Capital by 68.0% in the third quarter. Nisa Investment Advisors LLC now owns 12,600 shares of the asset manager’s stock valued at $211,000 after buying an additional 5,100 shares during the period. Finally, Stratos Wealth Partners LTD. acquired a new position in Solar Senior Capital in the third quarter valued at about $105,000. 22.68% of the stock is currently owned by institutional investors.

About Solar Senior Capital

Solar Senior Capital Ltd. is a business development company specializing in investments in leveraged, middle-market companies in the United States. The fund invests in the form of senior secured loans, including first lien, unitranche, and second lien debt instruments. It does not invest in start-up companies or companies having speculative business plans.

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