BDCX - Ares Capital's NAV Dividend And Valuation Versus 15 BDC Peers - Part 1 (Includes Recommendation For All Covered Peers)

• Part 1 of this article compares ARCC’s recent quarterly change in NAV, quarterly and trailing 24-month economic return, NII, and current valuation to 15 BDC peers.
• Part 1 also performs a comparative analysis between each company’s investment portfolio as of 9/30/2021 and 12/31/2021. This includes an updated percentage of investments on non-accrual status.
• I also provide a list of the other BDC stocks I currently believe are undervalued (a buy recommendation), overvalued (a sell recommendation), and appropriately valued (a hold recommendation).
• Other metrics analyzed include each company’s cumulative realized gain (loss) per share, NII per share, price to annualized NII ratio, and percentage of income attributable to capitalized PIK income.
• By providing these comparable sector metrics, this article sheds light on some useful quantitative data when assessing each company’s past, current, and likely future performance.

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