Sound Point Meridian Capital, Inc. (NYSE:SPMC), a Delaware-incorporated company, has reported its management's unaudited estimate of the net asset value (NAV) per share for the period ending December 31, 2024. According to the filing with the Securities and Exchange Commission on Wednesday, the estimated NAV per share of the company's common stock ranged between $20.47 and $20.57. With the current stock price at $20.92, InvestingPro data shows the company trading slightly above its reported NAV range, while maintaining a market capitalization of $429.85 million.
The announcement was made in a current report on Form 8-K, a requirement for publicly traded companies to disclose specified significant events. The estimated NAV is a key financial metric for investors, reflecting the company's asset valuation as it relates to the shares outstanding.
Sound Point Meridian Capital, which also trades its 8.00% Series A Preferred Stock due 2029 under the ticker symbol SPMA on the New York Stock Exchange, did not provide additional context for the NAV per share estimates in the filing. Notably, InvestingPro data reveals the company offers a substantial dividend yield of 13.56%, with annual dividends of $2.64 per share, making it an attractive option for income-focused investors.
The company, located at 375 Park Avenue in New York City, operates under the leadership of CEO Ujjaval Desai, who signed off on the report. The filing did not indicate any other significant events or business updates alongside the NAV per share estimates.
Sound Point Meridian Capital's stock performance and investors' decision-making may be influenced by such financial disclosures. InvestingPro analysis indicates a "GOOD" overall financial health score, with analyst price targets ranging from $21 to $22.50, suggesting potential upside from current levels. The stock is currently trading near its 52-week high of $21.97, having delivered a total return of approximately 13% over the past year.
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