CGBD - Carlyle Secured Lending: Valuation Compression Makes This 11.7%-Yielding BDC Less Slam Dunk
2024-03-20 03:10:49 ET
Summary
- We take a look at the Q4 results for the BDC Carlyle Secured Lending.
- CGBD reported a sizable increase in net income as well as a gain in the NAV.
- Portfolio quality is holding up well - non-accruals should fall by the end of the current quarter.
- CGBD's valuation has closed much of its previous gap with the rest of the sector, making it less of a slam-dunk allocation.
In this article, we catch up on the Q4 results of Carlyle Secured Lending ( CGBD ). CGBD trades at a dividend yield of 11.7% and a 4% discount to NAV. Its net investment income price yield is 14% - close to 1% above the sector median level....
Carlyle Secured Lending: Valuation Compression Makes This 11.7%-Yielding BDC Less Slam Dunk