Top-News
Donnerstag,
09.11.2017 22:20
von
PR Newswire
| Aufrufe: 59
FSIC Reports Third Quarter 2017 Financial Results and Declares Regular Distribution for Fourth Quarter
Wirtschaftsnachrichten (Symbolbild).
pixabay.com
PR Newswire
PHILADELPHIA, Nov. 9, 2017
PHILADELPHIA, Nov. 9, 2017 /PRNewswire/ -- FS Investment Corporation (NYSE: FSIC), a publicly traded business development company focused on providing customized credit solutions to private middle market U.S. companies, announced its operating results for the quarter ended September 30, 2017, and that its board of directors has declared its fourth quarter 2017 regular distribution.
Financial Highlights for the Quarter Ended September 30, 20171
- Net investment income of $0.21 per share, compared to $0.20 per share for the quarter ended September 30, 2016
- Adjusted net investment income of $0.21 per share, compared to $0.20 per share for the quarter ended September 30, 20162
- Total net realized loss of $0.07 per share and total net change in unrealized appreciation of $0.21 per share, compared to a total net realized gain of $0.01 per share and a total net change in unrealized appreciation of $0.26 per share for the quarter ended September 30, 2016
- Paid cash distributions to stockholders totaling $0.22275 per share3
- Total purchases of $183.4 million versus $225.5 million of sales and repayments
- Net asset value of $9.43 per share, compared to $9.30 per share as of June 30, 2017
"As we've seen in prior quarters, the credit markets continue to be very competitive," said Michael C. Forman, Chairman and Chief Executive Officer of FSIC. "With first lien senior secured loans representing 98% of purchases in the quarter, we remain disciplined in our approach with an emphasis on investing at the top of the capital structure."
Declaration of Regular Distribution for Fourth Quarter 2017
FSIC's board of directors has declared a regular cash distribution for the fourth quarter of $0.19 per share, which will be paid on or about January 3, 2018 to stockholders of record as of the close of business on December 20, 2017.
Summary Consolidated Results
| | Three Months Ended | ||||
| (dollars in thousands, except per share data) | September 30, 2017 | June 30, 2017 | September 30, 2016 | ||
| Total investment income | $103,691 | $98,695 | $100,557 | ||
| Net investment income | 50,648 | 46,460 | 49,003 | ||
| Net increase (decrease) in net assets resulting from operations | 85,398 | 18,442 | 114,369 | ||
| | | | | ||
| Net investment income per share | $0.21 | $0.19 | $0.20 | ||
| Adjusted net investment income per share2 | $0.21 | $0.19 | $0.20 | ||
| Total net realized and unrealized gain (loss) per share | $0.14 | $(0.11) | $0.27 | ||
| Net increase (decrease) in net assets resulting from operations (Earnings per Share) | $0.35 | $0.08 | $0.47 | ||
| Stockholder distributions per share3 | $0.22275 | $0.22275 | $0.22275 | ||
| Net asset value per share at period end | $9.43 | $9.30 | $9.42 | ||
| Weighted average shares outstanding | 245,678,745 | 245,107,405 | 243,488,590 | ||
| Shares outstanding, end of period | 245,725,416 | 245,153,010 | 243,488,590 | ||
| | | As of | As of |
| (dollar amounts in thousands) | | September 30, 2017 | December 31, 2016 |
| Total fair value of investments | | $3,911,399 | $3,726,816 |
| Total assets | | 4,135,463 | 4,110,071 |
| Total stockholders' equity | | 2,316,693 | 2,297,377 |
Portfolio Highlights as of September 30, 2017
- Total fair value of investments was $3.9 billion.
- Core investment strategies4 represented 99% of the portfolio by fair value as of September 30, 2017, including 90% from direct originations and 9% from opportunistic investments. Broadly syndicated/other investments represented the remaining 1% of the portfolio by fair value.
- Gross portfolio yield prior to leverage (based on amortized cost and excluding non-income producing assets)5 was 10.3%, compared to 10.4% as of June 30, 2017.
- Total commitments to direct originations (including unfunded commitments) made during the third quarter of 2017 was $199.2 million in 4 companies, 2 of which were existing portfolio companies.
- Approximately 0.3% of investments were on non-accrual based on fair value.6
Total Portfolio Activity
| | Three Months Ended | | ||||
| (dollar amounts in thousands) | September 30, 2017 | June 30, 2017 | September 30, 2016 | | ||
| Purchases | $183,384 | $298,682 | $217,337 | | ||
| Sales and redemptions | (255,483) | (310,569) | (290,764) | | ||
| Net portfolio activity | $(42,099) | $(11,887) | $(73,427) | | ||
| | | |||||
| Portfolio Data | As of September 30, 2017 | As of December, 2016 | | |||
| Total fair value of investments | $3,911,399 | $3,726,816 | | |||
| Number of Portfolio Companies Werbung Mehr Nachrichten zur FS KKR Capital Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1  Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News | ||||||
