SLR Investment Q3 investment income falls on smaller portfolio
SLRC•SLR Investment’s Q3 net investment income fell to $17.8 million from $21.6 million as its average income-producing portfolio shrank, while net investment income per share was flat sequentially at $0.33. The company declared a $0.31-per-share quarterly distribution and repurchased $10 million of shares in October.
1. Quarterly results
SLR Investment reported Q3 net investment income of $17.8 million, down from $21.6 million, mainly due to a smaller average investment portfolio. Net investment income per share was unchanged sequentially at $0.33.
2. Investments and distribution
The company made $575 million in new investments, 95% of which were in specialty finance. It declared a quarterly distribution of $0.31 per share, payable Dec. 28, and repurchased $10 million of shares in October.
3. Outlook and portfolio
SLR Investment said it expects to continue focusing on specialty finance originations and is positioned to deploy more than $850 million in available capital. It said watchlist loans remain below historical averages and portfolio credit quality is stable.
