MidCap Financial Q3 net investment income per share dips to $0.38

Overview

• MidCap Financial Q3 net investment income per share dips to $0.38 from $0.39 in Q2

• Net asset value per share decreased to $14.66 from $14.75 in Q2

• Company received $97 mln repayment from Merx, reducing exposure to 3.3% of portfolio

Outlook

• Company expects additional $25 mln paydowns from Merx in late 2025 or early 2026

• Company aims to redeploy capital into middle market loans to de-risk portfolio

• Company made enhancements to capital structure, extending debt maturities

Result Drivers

• MIDDLE MARKET LOANS - Co continued capital deployment into first lien middle market loans with strong credit attributes

• MERX REPAYMENT - $97 mln repayment from Merx Aviation Finance reduced exposure to 3.3% of portfolio

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the investment management & fund operators peer group is "buy"

• Wall Street's median 12-month price target for MidCap Financial Investment Corp is $13.25, about 7.6% above its November 5 closing price of $12.24

• The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release: ID:nGNX78m1kP

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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.)