Sumitomo Mitsui Trust Group Inc. Acquires 44,385 Shares of MidCap Financial Investment Corporation (NASDAQ:MFIC)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of MidCap Financial Investment Corporation (NASDAQ:MFIC) by 23.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 232,584 shares of the company’s stock after purchasing an additional 44,385 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.25% of MidCap Financial Investment worth $2,991,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MFIC. Castlekeep Investment Advisors LLC bought a new stake in MidCap Financial Investment during the 4th quarter worth about $16,771,000. CF Capital LLC bought a new stake in shares of MidCap Financial Investment during the fourth quarter valued at approximately $2,799,000. Naviter Wealth LLC bought a new stake in shares of MidCap Financial Investment during the fourth quarter valued at approximately $2,516,000. Ares Management LLC boosted its position in MidCap Financial Investment by 55.5% in the 4th quarter. Ares Management LLC now owns 482,032 shares of the company’s stock valued at $6,503,000 after buying an additional 172,032 shares during the last quarter. Finally, Callodine Capital Management LP boosted its position in MidCap Financial Investment by 164.4% in the 4th quarter. Callodine Capital Management LP now owns 246,217 shares of the company’s stock valued at $3,321,000 after buying an additional 153,105 shares during the last quarter. Institutional investors own 28.45% of the company’s stock.

MidCap Financial Investment Stock Up 0.4%

Shares of NASDAQ:MFIC opened at $12.72 on Friday. The company has a 50 day moving average price of $12.53 and a two-hundred day moving average price of $12.93. The company has a market capitalization of $1.19 billion, a PE ratio of 10.25 and a beta of 0.97. MidCap Financial Investment Corporation has a 52 week low of $10.18 and a 52 week high of $15.70. The company has a debt-to-equity ratio of 1.39, a quick ratio of 5.98 and a current ratio of 5.98.

MidCap Financial Investment (NASDAQ:MFIC) last posted its earnings results on Monday, May 12th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). The business had revenue of $78.70 million for the quarter, compared to the consensus estimate of $82.49 million. MidCap Financial Investment had a return on equity of 10.66% and a net margin of 33.21%. Analysts forecast that MidCap Financial Investment Corporation will post 1.73 earnings per share for the current year.

MidCap Financial Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 11.95%. The ex-dividend date of this dividend was Tuesday, June 10th. MidCap Financial Investment’s dividend payout ratio (DPR) is presently 122.58%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Truist Financial decreased their price objective on MidCap Financial Investment from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. JPMorgan Chase & Co. reduced their target price on shares of MidCap Financial Investment from $13.50 to $11.50 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Keefe, Bruyette & Woods reduced their target price on shares of MidCap Financial Investment from $15.00 to $14.50 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their price objective on shares of MidCap Financial Investment from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, MidCap Financial Investment presently has an average rating of “Moderate Buy” and an average price target of $14.00.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (Former name Apollo Investment Corporation) is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.