PNNT Stock Recent News

I am downgrading my rating on PennantPark Investment Corporation due to weak distribution coverage and a rising non-accrual rate, indicating lower portfolio quality. Despite a high dividend yield of 13.6%, PNNT's core net investment income is insufficient to cover distributions without relying on special dividends from the joint venture portfolio. PNNT's diversified portfolio includes 56% first lien debt and is diversified by industry. However, the equity exposure could elevate the risk profile.

MIAMI, Oct. 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) announced that it will report results for the fourth fiscal quarter ended September 30, 2024 on Monday, November 25, 2024 after the close of the financial markets.

MIAMI, Oct. 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) declares its monthly distribution for October 2024 of $0.08 per share, payable on November 1, 2024 to stockholders of record as of October 16, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission.

Joint Venture to Continue to Target the Attractive Core Middle Market Joint Venture Is Generating Strong Returns NEW YORK, Sept. 05, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (“PNNT”) (NYSE: PNNT) today announced it has agreed to expand its investment in PennantPark Senior Loan Fund, LLC (“PSLF” or the “JV”), its unconsolidated joint venture with the private credit investment business of Pantheon Ventures (UK) LLP (“Pantheon”).

MIAMI, Sept. 04, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) declares its monthly distribution for September 2024 of $0.08 per share, payable on October 1, 2024 to stockholders of record as of September 16, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission.

Q3 and YTD results show a decline in investment income and NAV per share, with a focus on maintaining a balance between dividends and liquidity. Dividend situation is at its highest in almost a decade, but potential rate cuts may impact future distributions. Enhanced returns from joint venture opportunities may provide a boost in the long term, but for now, PNNT's yield faces modest headwinds.

PennantPark Investment Corporation (NYSE:PNNT ) Q3 2024 Results Conference Call August 8, 2024 12:00 PM ET Company Participants Art Penn - Founder, Chairman, Managing Partner & CEO Rick Allorto - Chief Financial Officer Conference Call Participants Mark Hughes - Truist Robert Dodd - Raymond James Paul Johnson - KBW Melissa Wedel - JPMorgan Operator Good afternoon, and welcome to the PennantPark Investment Corporation's Third Fiscal Quarter 2024 Earnings Conference Call. Today's conference is being recorded.

Although the revenue and EPS for PennantPark (PNNT) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

PennantPark (PNNT) came out with quarterly earnings of $0.24 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.35 per share a year ago.

MIAMI, Aug. 07, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (NYSE: PNNT) announced today its financial results for the third quarter ended June 30, 2024.