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PennantPark Floating Rate Capital Ltd. (PFLT)

Financial Services | Asset Management | Miami Beach, United States | NYSE
6.69 USD +0.20 (3.134%) ⇧ (Oct. 15, 2026, 11:02 a.m. EDT)
Short-term:★★☆☆☆Long-term:★⯪☆☆☆Dividends:★★⯪☆☆
Hot Take ↕ | Oct. 10, 2026, 5:09 a.m. EDT

The investment case here is fundamentally broken despite the attractive headline yield. While the 15% dividend yield looks compelling on paper, the company is paying out 237% of its earnings, meaning the payout is entirely funded by debt service and capital recycling rather than organic profit generation. The business is shrinking, with revenue growth barely edging positive while earnings plummeted by 60% recently. The price history confirms this deterioration: the stock has lost nearly 37% of its value over the last nine years, trading well below its book value because the market correctly prices in the inability to generate sustainable returns. The options market reinforces this pessimism, with heavy positioning in protective puts suggesting investors expect further declines. The dividend is likely unsustainable in the long run as the company burns cash to maintain the payout on a shrinking earnings base. This is a value trap where the high yield is a symptom of distress, not a reward for quality.
Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
AutoETS ✓0.026307
MSTL0.027588
AutoTheta0.031581
AutoARIMA0.043345

Forecast horizon: 45 days | Selected: AutoETS

Forecast Reliability
Score 56%
H-stat 0.17
Ljung-Box p 0.000
Jarque-Bera p 0.156
Excess Kurtosis -1.40
Attribute Value
Sector Financial Services
Ex Dividend Date 2026-10-14
Last Dividend Date 2026-09-14
Debt to Equity Ratio 154.724
Revenue per Share 2.732
Market Cap 663,767,744
Trailing P/E 13.12
Forward P/E 6.29
Beta 0.80
Profit Margins 18.53%
Website https://pflt.pennantpark.com

As of Oct. 10, 2026, 5:09 a.m. EDT: Speculators are overwhelmingly positioning for downside protection rather than upside participation. Put open interest is concentrated significantly higher than call open interest, with deep out-of-the-money puts ($12.50 strike) holding substantial volume relative to calls. This asymmetry suggests a 'bear put spread' or hedging strategy is dominant, indicating fear of further price erosion rather than a bullish breakout.

Dividend Data

Yield Summary
Last Yield 1yr Yield 3yr Avg 5yr Avg
1.18% 13.94% 12.18% 11.19%
Dividend History
Date Dividend Yield %
2026-09-15 0.083 1.182336
2026-08-14 0.083 1.127717
2026-07-15 0.083 1.151179
2026-06-15 0.083 1.068211
2026-05-15 0.103 1.214623
2026-04-15 0.103 1.182549
2026-03-16 0.103 1.273177
2026-02-17 0.103 1.210341
2026-01-16 0.103 1.080798
2025-12-15 0.103 1.108719
2025-11-17 0.103 1.153415
2025-10-15 0.103 1.183908
2025-09-15 0.103 1.048880
2025-08-15 0.103 1.006843
2025-07-15 0.103 0.968956
2025-06-16 0.103 1.012783
2025-05-15 0.103 1.018793
2025-04-15 0.103 1.069574
2025-03-14 0.103 0.933817
2025-02-18 0.103 0.923767
2025-01-15 0.103 0.934664
2024-12-16 0.103 0.952821
2024-11-15 0.103 0.933817
2024-10-16 0.103 0.879590
2024-09-16 0.103 0.892548
2024-08-16 0.103 0.935513
2024-07-15 0.103 0.873622
2024-06-14 0.103 0.913931
2024-05-14 0.103 0.903509
2024-04-12 0.103 0.922939
2024-03-15 0.103 0.928765
2024-02-14 0.103 0.922113
2024-01-12 0.103 0.848435
2023-12-15 0.103 0.882605
2023-11-15 0.103 0.950184
2023-10-16 0.103 0.954588
2023-09-15 0.103 0.951062
2023-08-15 0.103 0.978158
2023-07-14 0.103 0.962617
2023-06-14 0.103 0.964419
2023-05-15 0.100 0.914913
2023-04-17 0.100 0.909918
2023-03-15 0.100 1.002004
2023-02-15 0.095 0.866788
2023-01-18 0.095 0.807823
2022-12-16 0.095 0.858175
2022-11-16 0.095 0.845196
2022-10-17 0.095 0.918762
2022-09-16 0.095 0.798991
2022-08-17 0.095 0.789037
2022-07-15 0.095 0.797649
2022-06-16 0.095 0.909091
2022-05-17 0.095 0.778051
2022-04-14 0.095 0.683945
2022-03-16 0.095 0.737578
2022-02-14 0.095 0.722433
2022-01-14 0.095 0.726300
2021-12-17 0.095 0.757576
2021-11-16 0.095 0.695461
2021-10-15 0.095 0.720789
2021-09-16 0.095 0.748032
2021-08-17 0.095 0.727969
2021-07-16 0.095 0.729647
2021-06-16 0.095 0.735294
2021-05-14 0.095 0.774878
2021-04-14 0.095 0.760609
2021-03-17 0.095 0.764280
2021-02-11 0.095 0.800337
2021-01-15 0.095 0.837742
2020-12-16 0.095 0.893697
2020-11-16 0.095 1.024811
2020-10-20 0.095 1.140456
2020-09-16 0.095 1.105937
2020-08-18 0.095 1.112412
2020-07-15 0.095 1.126928
2020-06-16 0.095 1.055556
2020-05-15 0.095 1.319444
2020-04-15 0.095 1.515152
2020-03-17 0.095 1.785714
2020-02-14 0.095 0.754567
2020-01-15 0.095 0.777414
2019-12-18 0.095 0.762440
2019-11-13 0.095 0.815451
2019-10-16 0.095 0.830420
2019-09-16 0.095 0.816853
2019-08-16 0.095 0.826087
2019-07-17 0.095 0.816853
2019-06-14 0.095 0.817556
2019-05-17 0.095 0.791667
2019-04-16 0.095 0.731895
2019-03-19 0.095 0.732460
2019-02-13 0.095 0.720243
2019-01-16 0.095 0.760609
2018-12-18 0.095 0.818965
2018-11-19 0.095 0.717523
2018-10-17 0.082 0.636152
2018-10-16 0.013 0.100386
2018-09-17 0.017 0.128205
2018-09-14 0.078 0.588679
2018-08-21 0.018 0.132646
2018-08-20 0.077 0.566593
2018-07-18 0.019 0.138990
2018-07-17 0.076 0.551524
2018-06-15 0.095 0.681004
2018-05-17 0.095 0.703704
2018-04-16 0.095 0.709485
2018-03-16 0.095 0.729647
2018-02-15 0.095 0.744514
2018-01-17 0.095 0.700074
2017-12-22 0.095 0.684438
2017-11-16 0.095 0.687907
2017-10-18 0.095 0.654270
2017-09-19 0.095 0.666667
2017-08-16 0.095 0.673759
2017-07-18 0.095 0.662021
2017-06-19 0.095 0.677603
2017-05-17 0.095 0.674716
2017-04-17 0.095 0.694952
2017-03-20 0.095 0.688406
2017-02-15 0.095 0.695971
2017-01-18 0.095 0.677120
2016-12-20 0.095 0.675195
2016-11-16 0.095 0.720243
2016-10-18 0.095 0.719697
2016-09-19 0.095 0.735294
2016-08-17 0.095 0.735294
2016-07-18 0.095 0.751582
2016-06-16 0.095 0.778051
2016-05-18 0.095 0.789692
2016-04-18 0.095 0.783828
2016-03-16 0.095 0.826087
2016-02-16 0.095 0.890347
2016-01-15 0.095 0.917874
2015-12-22 0.095 0.846702
2015-11-17 0.095 0.828970
2015-10-19 0.095 0.784476
2015-09-17 0.095 0.775510
2015-08-20 0.095 0.752177
2015-07-20 0.095 0.674716
2015-06-11 0.095 0.677603
2015-05-18 0.095 0.674716
2015-04-16 0.095 0.669958
2015-03-18 0.095 0.677603
2015-02-13 0.090 0.655499
2015-01-16 0.090 0.668648
2014-12-17 0.090 0.693374
2014-11-17 0.090 0.639659
2014-10-20 0.090 0.654070
2014-09-24 0.090 0.637846
2014-08-18 0.090 0.641940
2014-07-16 0.090 0.638298
2014-06-17 0.090 0.647948
2014-05-15 0.090 0.649351
2014-04-16 0.090 0.654545
2014-03-18 0.090 0.655022
2014-02-14 0.090 0.640114
2014-01-17 0.090 0.663717
2013-12-18 0.090 0.649819
2013-11-18 0.090 0.656934
2013-10-17 0.087 0.651685
2013-09-18 0.088 0.643275
2013-08-19 0.087 0.668716
2013-07-17 0.087 0.621429
2013-06-19 0.088 0.590604
2013-05-16 0.087 0.610098
2013-04-17 0.087 0.615711
2013-03-20 0.087 0.606272
2013-02-14 0.085 0.611511
2013-01-17 0.083 0.619866
2012-12-19 0.083 0.645914
2012-11-16 0.083 0.663469
2012-10-17 0.083 0.634072
2012-09-18 0.080 0.628931
2012-08-16 0.080 0.640000
2012-07-18 0.080 0.660066
2012-06-19 0.080 0.672269
2012-05-18 0.080 0.683761
2012-04-18 0.075 0.641026
2012-03-20 0.075 0.638298
2012-02-15 0.075 0.635593
2012-01-18 0.075 0.685558
2011-12-21 0.070 0.670498
2011-11-17 0.070 0.683594
2011-10-19 0.070 0.675676
2011-09-21 0.070 0.656660
2011-08-18 0.070 0.620018
2011-07-20 0.060 0.481155
2011-06-22 0.050 0.406835
Additional Data
dividendYield 15.08
exDividendDate 2026-10-15
trailingAnnualDividendRate 1.211
trailingAnnualDividendYield 0.18668967
lastDividendValue 0.083
lastDividendDate 2026-09-15
dividendDate 2026-11-02

Info Dump

Attribute Value
52 Week Change -0.22064054
Address1 1,691 Michigan Avenue
Address2 Suite 500
All Time High 15.02
All Time Low 3.34
Ask 6.68
Ask Size 1,000
Average Analyst Rating 1.9 - Buy
Average Daily Volume10 Day 913,630
Average Daily Volume3 Month 908,026
Average Volume 908,026
Average Volume10Days 913,630
Beta 0.797
Bid 6.68
Bid Size 600
Book Value 10.257
City Miami Beach
Compensation As Of Epoch Date 1,767,139,200
Country United States
Crypto Tradeable 0
Currency USD
Current Price 6.69
Current Ratio 3.092
Custom Price Alert Confidence HIGH
Date Short Interest 1,790,726,400
Day High 6.71
Day Low 6.5388
Debt To Equity 154.724
Display Name PennantPark Fltg Rt Capital
Dividend Date 1,793,577,600
Dividend Yield 15.08
Earnings Call Timestamp End 1,795,550,400
Earnings Call Timestamp Start 1,795,550,400
Earnings Growth -0.607
Earnings Quarterly Growth -0.607
Earnings Timestamp 1,795,464,000
Earnings Timestamp End 1,795,464,000
Earnings Timestamp Start 1,795,464,000
Ebitda Margins 0.0
Enterprise To Revenue 7.84
Enterprise Value 2,125,570,560
Eps Current Year 1.05328
Eps Forward 1.06415
Eps Trailing Twelve Months 0.51
Esg Populated 0
Ex Dividend Date 1,792,022,400
Exchange NYQ
Exchange Data Delayed By 20
Exchange Timezone Name America/New_York
Exchange Timezone Short Name EDT
Fax 212 905 1075
Fifty Day Average 7.1486
Fifty Day Average Change -0.45860004
Fifty Day Average Change Percent -0.06415243
Fifty Two Week Change Percent -22.064054
Fifty Two Week High 9.75
Fifty Two Week High Change -3.06
Fifty Two Week High Change Percent -0.31384614
Fifty Two Week Low 6.5388
Fifty Two Week Low Change 0.1512003
Fifty Two Week Low Change Percent 0.023123555
Fifty Two Week Range 6.5388 - 9.75
Financial Currency USD
First Trade Date Milliseconds 1,302,269,400,000
Five Year Avg Dividend Yield 11.08
Forward Eps 1.06415
Forward P E 6.286708
Free Cashflow 57,053,500
Full Exchange Name NYSE
Fullday Change 0.2033
Fullday Change Percent 3.1341052
Fullday Price 6.69
Gmt Off Set Milliseconds -14,400,000
Gross Margins 1.0
Gross Profits 271,111,008
Has Pre Post Market Data 1
Held Percent Insiders 0.00894
Held Percent Institutions 0.21837999
Implied Shares Outstanding 99,217,896
Industry Asset Management
Industry Disp Asset Management
Industry Key asset-management
Is Earnings Date Estimate 0
Language en-US
Last Dividend Date 1,789,430,400
Last Dividend Value 0.083
Last Fiscal Year End 1,759,190,400
Long Business Summary PennantPark Floating Rate Capital Ltd. is a Private Debt, business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments. It primarily invests between $10 million and $50 million in investments in senior secured loans and mezzanine debt. It seeks to invest in companies not rated by national rating agencies. The companies if rated would be between BB and CCC under the Standard & Poor's system. The fund invests 30% is invested in non-qualifying assets like investments in public companies whose securities are not thinly traded or do not have a market capitalization of less than $250 million, securities of middle-market companies located outside of the United States, high-yield bonds, distressed debt, private equity, securities of public companies that are not thinly traded, and investment companies as defined in the 1940 Act. Under normal conditions, the fund expects atleast 80 percent of its net assets plus any borrowings for investment purposes to be invested in Floating Rate Loans and investments with similar economic characteristics, including cash equivalents invested in money market funds. It expects to represent 65 percent of its portfolio through senior secured loans. In case of floating rate loans, it holds investments for a period of three to ten years.
Long Name PennantPark Floating Rate Capital Ltd.
Market us_market
Market Cap 663,767,744
Market State REGULAR
Max Age 86,400
Message Board Id finmb_129679481
Most Recent Quarter 1,782,777,600
Net Income To Common 50,248,000
Next Fiscal Year End 1,790,726,400
Non Diluted Market Cap 705,439,240
Number Of Analyst Opinions 7
Open 6.53
Operating Cashflow -58,400,000
Operating Margins 0.77141
Payout Ratio 2.3741
Peg Ratio 0.26
Phone 212 905 1000
Previous Close 6.4867
Price Eps Current Year 6.3515873
Price Hint 2
Price To Book 0.6522375
Price To Sales Trailing12 Months 2.4483247
Profit Margins 0.18534
Quick Ratio 3.042
Quote Source Name Nasdaq Real Time Price
Quote Type EQUITY
Recommendation Key buy
Recommendation Mean 1.875
Region US
Regular Market Change 0.2033
Regular Market Change Percent 3.1341052
Regular Market Day High 6.71
Regular Market Day Low 6.5388
Regular Market Day Range 6.5388 - 6.71
Regular Market Open 6.53
Regular Market Previous Close 6.4867
Regular Market Price 6.69
Regular Market Time 1,792,076,542
Regular Market Volume 299,671
Return On Assets 0.05092
Return On Equity 0.04774
Revenue Growth 0.041
Revenue Per Share 2.732
Sand P52 Week Change 0.16440773
Sector Financial Services
Sector Disp Financial Services
Sector Key financial-services
Shares Outstanding 99,217,896
Shares Percent Shares Out 0.0373
Shares Short 3,704,175
Shares Short Previous Month Date 1,788,134,400
Shares Short Prior Month 3,825,233
Short Name PennantPark Floating Rate Capit
Short Percent Of Float 0.0377
Short Ratio 5.19
Source Interval 15
State FL
Symbol PFLT
Target High Price 10.5
Target Low Price 8.5
Target Mean Price 9.57143
Target Median Price 10.0
Total Cash 100,808,000
Total Cash Per Share 1.016
Total Debt 1,574,516,992
Total Revenue 271,111,008
Tradeable 0
Trailing Annual Dividend Rate 1.211
Trailing Annual Dividend Yield 0.18668967
Trailing Eps 0.51
Trailing P E 13.117647
Trailing Peg Ratio None
Triggerable 1
Two Hundred Day Average 8.0393
Two Hundred Day Average Change -1.3492999
Two Hundred Day Average Change Percent -0.16783799
Type Disp Equity
Volume 299,671
Website https://pflt.pennantpark.com
Zip 33,139