CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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Portman Ridge Finance Corporation (PTMN)

BDC - Debt Focused BDC

Data as of Oct. 21, 2021
Market Price $24.32 (- $0.04)
NAV (June 30, 2021) $29.30 ( $0.00)
Premium / Discount -17.00% (-0.14%)
Fund Info
Inception Dec. 12, 2006
Sponsor Sierra Crest Investment Management
Website https://www.portmanrid...
Phone 212-455-8300
Location New York
Staggered Board Yes
Objective: Current income and capital appreciation; debt and equity-related investments
Related Indexes
High Income Index
Capital & Leverage
Outstanding Shares 9,125,704
Total Assets (Reported: June 30, 2021) $649M
Estimated Total Assets $608M
Net Assets $267M
Market Cap $222M
Portfolio Turnover 63.40%
Debt-to-Equity 1.3550
Total Leverage 56.04%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 16.23%
Non Lev Exp Ratio 10.41%
Gross Asset Expense Ratio 6.06%
Gross Asset Non Lev Exp Ratio 3.88%
Rel Lev Cost 3.88%
Discount Data
Average Discount (3 Yr) -35.10%
Discount Low(3 Yr) -77.94%
Discount High(3 Yr) -2.60%
Discount Rel Range 80.89%
Comp Discount -22.08
Discount St Dev (1Yr) 11.10
Z-Stat (6mo) 0.71
Z-Stat (1Yr) 0.85
Z-Stat (3Yr) 1.20
Comp Z-Stat (6mo) 0.05
Comp Z-Stat (3Yr) 0.21
Distribution Data
Market Yield 9.87%
Income Yield 9.87%
Lev Adj NAV Yield 5.25%
Av Yield on Debt Investments 7.80
Distribution Frequency Q
Current Distribution $0.600
Current Income $0.600
Ex-Date 8/16/21
Payable Date 8/31/21
Div Growth (3yr) -40.00%
Dividend Change -40.0% on 8/5/19
Expected Div 11/5/21
RoC (1yr) 0.00%
RoC (3yr) 41.56%
Volume & Liquidity
Average Daily $ (M) $795
Avg Volume 30 day 29,932
Avg Volume 90 day 32,672
Volume Trend -8.39%
Comp Volume Trend -6.49%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Correlation (1yr)
vs. CEFA's BDC Index
Most Correlated Peer (Mk Pr): MAIN 59.0%
Price St Dev (1Yr) 28.3%
NAV St Dev (1Yr) 1.8%
Earnings / Share (6/30/21) $1.277
Adj Core NII Coverage 212.75%
1 Yr Avg NII Coverage 173.68%
1 Yr Avg Adj Core NII Coverage 153.41%
NII Trend 31.61%
Adj Core NII Trend 80.38%
Price Beta (2yr)
vs. S&P 500 (TR)
Price Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Beta (2yr)
vs. CEFA's Debt-Focused Business Development Company (BDC) Index
Portfolio Data
Avg Libor Floor % 1.08%
% Loans with Libor Floor 69%


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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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