- Part 1 of this article compares SLRC’s recent quarterly change in NAV, quarterly and trailing 24-month economic return, NII, and current valuation to thirteen BDC peers.
- Part 1 also performs a comparative analysis between each company’s investment portfolio as of 12/31/2020 and 3/31/2021. This includes an updated percentage of investments on non-accrual status.
- 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.
- As a direct result of the recent market/sector rally, many BDC stocks are now appropriately valued or overvalued (more caution versus 2020). However, I believe SLRC remains undervalued.
- 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).
For further details see:
SLR Investment's NAV, Dividend, And Valuation Vs. 13 BDC Peers - Part 1 (Post Q1 2021 Earnings, Including Current Recommendation For All Covered Peers)