Deutsche Bank AG Downgrades Fifth Street Senior Floating Rate Corp. (FSFR) to Hold

Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) was downgraded by analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, The Fly reports.

Separately, Zacks Investment Research cut shares of Fifth Street Senior Floating Rate Corp. from a “hold” rating to a “sell” rating in a report on Friday, December 16th.

Shares of Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) opened at 8.75 on Monday. The company’s 50-day moving average is $9.44 and its 200 day moving average is $8.89. Fifth Street Senior Floating Rate Corp. has a 52 week low of $6.75 and a 52 week high of $10.37.

Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) last released its quarterly earnings data on Thursday, February 9th. The investment management company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.03. Fifth Street Senior Floating Rate Corp. had a return on equity of 7.44% and a net margin of 18.75%. Equities research analysts expect that Fifth Street Senior Floating Rate Corp. will post $0.89 EPS for the current year.

The business also recently announced a monthly dividend, which will be paid on Tuesday, February 28th. Shareholders of record on Wednesday, February 15th will be paid a dividend of $0.075 per share. The ex-dividend date is Monday, February 13th. This represents a $0.90 annualized dividend and a yield of 10.03%. Fifth Street Senior Floating Rate Corp.’s payout ratio is 281.26%.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Mariner Investment Group LLC boosted its position in Fifth Street Senior Floating Rate Corp. by 67.3% in the second quarter. Mariner Investment Group LLC now owns 255,986 shares of the investment management company’s stock valued at $2,038,000 after buying an additional 103,007 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Fifth Street Senior Floating Rate Corp. by 13.3% in the third quarter. Advisors Asset Management Inc. now owns 874,745 shares of the investment management company’s stock valued at $7,488,000 after buying an additional 102,732 shares during the last quarter. Susquehanna International Group LLP boosted its position in Fifth Street Senior Floating Rate Corp. by 9.3% in the third quarter. Susquehanna International Group LLP now owns 82,435 shares of the investment management company’s stock valued at $706,000 after buying an additional 7,000 shares during the last quarter. Ares Management LLC boosted its position in Fifth Street Senior Floating Rate Corp. by 127.8% in the third quarter. Ares Management LLC now owns 920,910 shares of the investment management company’s stock valued at $7,883,000 after buying an additional 516,640 shares during the last quarter. Finally, Rivernorth Capital Management LLC bought a new position in Fifth Street Senior Floating Rate Corp. during the third quarter valued at approximately $507,000. 21.81% of the stock is currently owned by hedge funds and other institutional investors.

About Fifth Street Senior Floating Rate Corp.

Fifth Street Senior Floating Rate Corp. is a closed-end, non-diversified management investment company. The Company operates as a specialty finance company. The Company’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments while seeking to preserve its capital.

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