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Portman Ridge Finance Corporation (PTMN)

BDC - Debt Focused BDC

Data as of March 28, 2024
Current
Market Price $18.98 (+ $0.28)
NAV (Dec. 31, 2023) $22.76 ( $0.00)
Fund Listed NASDAQ
Premium / Discount -16.61% (+1.23%)
Fund Info
Inception Dec. 12, 2006
Sponsor Sierra Crest Investment Management
Website https://www.portmanrid...
Phone 212-455-8300
Location New York
Incorporated
Staggered Board Yes
Term Date N/A
Objective: Current income and capital appreciation; debt and equity-related investments
Related Indexes
High Income Index
Discount CEF/BDC Index
Capital & Leverage
Outstanding Shares 9,338,740
Total Assets (Reported: Dec. 31, 2023) $549M
Estimated Total Assets $515M
Net Assets $213M
Market Cap $177M
Portfolio Turnover 9.30%
Debt-to-Equity 1.5100
Total Leverage 58.70%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 11.89%
Non Lev Exp Ratio 0.66%
Gross Asset Expense Ratio 4.82%
Gross Asset Non Lev Exp Ratio 0.27%
Rel Lev Cost 7.77%
Discount Data
Average Discount (3 Yr) -16.64%
Discount Low(3 Yr) -26.93%
Discount High(3 Yr) -3.47%
Discount Rel Range (3 Yr) 44.00%
Comp Discount -14.97
Discount St Dev (1Yr) 4.80
Z-Stat
Z-Stat (6mo) 1.03
Z-Stat (1Yr) 0.05
Z-Stat (3Yr) 0.01
Comp Z-Stat (6mo) 0.39
Comp Z-Stat (3Yr) -0.33
Distribution Data
Market Yield 14.54%
Income Yield 14.54%
Lev Adj NAV Yield 7.64%
Av Yield on Debt Investments 12.30
Distribution Frequency Q
Current Distribution $0.690
Current Income $0.690
Ex-Date 3/22/24
Payable Date 4/2/24
Div Growth (3yr) 15.00%
Dividend Change 1.5% on 5/9/23
Expected Div 5/9/24
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (K) $853
Avg Volume 30 day 60,601
Avg Volume 90 day 44,966
Volume Trend 34.77%
Comp Volume Trend 25.83%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
26.0%
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
21.0%
Price Correlation (1yr)
vs. CEFA's BDC Index
30.0%
Most Correlated Peer (Mk Pr): MRCC 60.0%
Price St Dev (1Yr) 20.8%
NAV St Dev (1Yr) 5.2%
Earnings
Earnings / Share (12/31/23) $1.190
Adj Core NII Coverage 172.42%
1 Yr Avg NII Coverage 132.90%
1 Yr Avg Adj Core NII Coverage 130.65%
NII Trend 12.96%
Adj Core NII Trend 13.94%
Performance
Price Beta (2yr)
vs. S&P 500 (TR)
0.35
Price Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
0.39
Price Beta (2yr)
vs. CEFA's Debt-Focused Business Development Company (BDC) Index
0.40
Portfolio Data
Avg Libor Floor % 0.97%
% Loans with Libor Floor 78%

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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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