Business development companies, or BDCs, only go up when rates are hiked, right? No so fast, it's not that simple. Revisiting the basics can help you enjoy more income, so we're doing that today. Play an important role in our economy by investing in BDCs and letting them support your retirement with generous income.
GBDC closed a merger agreement with Golub Capital BDC 3, becoming the fifth-largest publicly traded BDC by asset. Golub Capital BDC reported strong earnings for fiscal 2023, with significant revenue and NII growth. Earnings remained strong in the most recent quarters, with revenue and NII continuing to increase.
Ares Capital is a must-own for income investors and their strong Q2 earnings further signified this. Company saw significant growth in net investment income, deal flow, and their portfolio value from $21.5 billion to $25 billion year-over-year. ARCC's balance sheet and ample liquidity of $5.5 billion puts them in a favorable position to capitalize on the uptick in deal flow in the private lending sector.
We take a look at the action in business development companies through the fourth week of July and highlight some of the key themes we are watching. BDCs were up slightly with wide variation, TPVG leading month-to-date. Trinity Capital has partnered with Eagle Point Credit for a new investment vehicle.
OCSL has been my absolute worst performing BDC pick. After the previous earnings release, I was still optimistic and recommended a buy, considering the positive net funding volumes and decreasing non-accruals. While the net funding volumes have remained strong, the build-up of non-accruals surprised to the downside, leaving the current distribution coverage without any margin of safety.
Belden (BDC) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
Blue Owl Capital Corporation has benefited from the Fed's rate rising program with 97% floating rate debt investments. The company rebranded as Blue Owl Capital Corp., with $174B in assets under management. Strong Q1 2024 earnings with record NAV/share, increased total income, and NII.
Belden Inc. (NYSE:BDC ) Q2 2024 Earnings Conference Call August 1, 2024 8:30 AM ET Company Participants Aaron Reddington - VP, IR Ashish Chand - President & CEO Jeremy Parks - SVP & CFO Conference Call Participants William Stein - Truist Securities David Williams - Benchmark Robert Jamieson - Vertical Research Partners Mark Delaney - Goldman Sachs Chris Dankert - Loop Capital Operator Ladies and gentlemen, thank you for standing by. Welcome to this morning's Belden reports Second Quarter 2024 Results Call.
Belden (BDC) came out with quarterly earnings of $1.51 per share, beating the Zacks Consensus Estimate of $1.35 per share. This compares to earnings of $1.91 per share a year ago.
New offerings from New York Mortgage Trust, Dime Community Bancshares, and Oxford Lane Capital Corp. with fixed coupon rates and credit ratings. DCOMG achieved a perfect CDx3 Compliance Score, while Morgan Stanley and Regions Financial Corporation also priced new preferred stock offerings. Investors can buy new shares at wholesale prices through the OTC exchange, track past preferred stock IPOs below par, and stay updated on the current marketplace offerings.
Here is how Belden (BDC) and Bodycote (BYPLF) have performed compared to their sector so far this year.
Blue Owl Capital is the third largest BDC with an investment policy that exhibits the right defensive characteristics to deliver solid returns. Since 2022, OBDC has outperformed the overall BDC market as well as the two other Top 3 BDC peers. Given this, the conservative investment policy a slight discount to NAV, my initial thought was that OBDC should be a clear buy.