Palmer Square Capital BDC Inc. (NYSE:PSBD) disclosed its unaudited net asset value (NAV) per share for the month ending November 30, 2024, today. According to the company's latest SEC filing, the NAV stood at $16.91 per share, while the current stock price trades at $16.04. According to InvestingPro data, the company maintains a market capitalization of $517 million and demonstrates notably low price volatility in its trading pattern.
The announcement is based on an 8-K filing with the Securities and Exchange Commission, which provides regular updates on a variety of corporate events. The Maryland-incorporated business development company, headquartered in Mission Woods, Kansas, reported the figure as part of its current report, a requirement for public companies to keep investors informed about significant corporate occurrences.
The filing did not include further details on the factors contributing to the NAV calculation or any comparative figures from previous reporting periods. NAV is a critical financial metric for companies like Palmer Square Capital, which invests in a variety of assets and debt instruments. It represents the value of all the company's assets minus the value of all its liabilities, divided by the number of shares outstanding.
The company, which operates as a business development company, is listed on the New York Stock Exchange under the ticker symbol PSBD. Notable among its financial characteristics is an impressive 10.6% dividend yield, as reported by InvestingPro, which identifies it as a significant dividend payer to shareholders.
As an emerging growth company, Palmer Square Capital has the option to delay adopting new or revised accounting standards, but the filing did not specify whether the company has elected to use this extended transition period. InvestingPro subscribers can access additional insights through comprehensive Pro Research Reports, which provide detailed analysis of over 1,400 US stocks, including PSBD.
Investors often monitor changes in a company's NAV as it can reflect the performance of its investment portfolio and influence the stock's market price. The stock currently trades near its 52-week range of $15.27-$17.12, with analyst price targets ranging from $16.50 to $17.00. It's important to note that the disclosed NAV is unaudited and is an estimate as of November 30, 2024.
Palmer Square Capital's Chief Financial Officer, Jeffrey D. Fox, signed off on the SEC filing, which was made public on December 13, 2024. The company has not provided any additional comments or guidance related to the NAV figure or its implications for shareholders and potential investors.
In other recent news, Palmer Square Capital BDC Inc. has had some noteworthy developments. The company announced the results of its 2024 Annual Meeting of Stockholders, where shareholders voted to re-elect two Class III directors and ratified the appointment of PricewaterhouseCoopers LLP as the company's independent auditor for the fiscal year ending December 31, 2024.
The directors re-elected were Jeffrey D. Fox and James W. Neville, who will continue serving on the board of directors until the 2027 annual meeting or until their successors are elected and qualified.
In addition to governance developments, Palmer Square Capital BDC Inc. has disclosed its unaudited net asset value (NAV) per share for various periods. The NAV per share, a key performance indicator for investment firms, was reported to be $16.85 as of October 31, 2024, according to the company's 8-K filing with the Securities and Exchange Commission.
This follows the company's previous disclosures of its NAV per share, which stood at $16.94 as of August 31, 2024, $16.89 as of July 31, 2024, and $16.85 as of June 30, 2024.
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