PennantPark Floating Rate Capital Q3 NAV per share falls

Pennantpark Floating Rate Capital

10/08/2026 21:54

Overview
US middle-market lender's Q3 net investment income per share rose slightly year-over-year
Net asset value per share fell to $10.26 from $10.83 at Sept. 30, 2025
Company cites portfolio performance and market conditions for lower net assets from operations

Outlook
Company did not provide specific guidance for the current quarter or full year

Result Drivers
PORTFOLIO GROWTH - Co said higher investment income was primarily due to an increase in the size of its debt portfolio
HIGHER INTEREST EXPENSE - Co attributed increased expenses to higher interest costs from increased borrowings
UNREALIZED DEPRECIATION - Co said net unrealized depreciation was mainly due to portfolio company performance and capital market conditions
DEFENSE SECTOR REALIZATION - Co highlighted meaningful realization from an equity co-investment in a leading defense technology company

Company press release: ID:nGNX8QqktP

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Net Asset Value Per Share
 
$10.26
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the closed end funds peer group is "hold."
Wall Street's median 12-month price target for PennantPark Floating Rate Capital Ltd is $10.00, about 33% above its August 7 closing price of $7.52
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 8 three months ago

Reuters Recommended Reads
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)