FS KKR Capital Q3 net investment income per share rises
Overview
US business development company's Q3 net investment income per share rose to $0.46 from $0.44 in Q2
Company repurchased about 6 mln shares for $69 mln during the quarter
Net asset value per share was $18.28, slightly down from Q2
Outlook
FS KKR Capital declares Q4 2026 distribution of $0.44 per share and $0.20 special distribution
Company expects portfolio to shift toward more first lien exposure in coming quarters
Result Drivers
SHARE REPURCHASES - Co repurchased about 6 mln shares for $69 mln during the qtr, which management said was part of progress toward strategic goals
PORTFOLIO ROTATION - Co said it continued to focus on rotating its portfolio, with repayments of $442 mln and a shift toward more first lien exposure
YIELD INCREASE - Weighted average annual yield on accruing debt investments rose to 10.0% from 9.8% in Q2
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Operating Expenses | $177 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the closed end funds peer group is "buy."
Wall Street's median 12-month price target for FS KKR Capital Corp. is $12.00, about 4.7% above its November 4 closing price of $11.46
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago
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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.)