Sound Point Meridian Capital, Inc. (NYSE:SPMC), a Delaware-incorporated company with a market capitalization of $415 million, reported an estimated net asset value (NAV) per share range for its common stock. The unaudited figures, as of November 30, 2024, suggest that the NAV per share is between $20.50 and $20.60, closely aligned with the current trading price of $20.52. According to InvestingPro analysis, the company stands out for its remarkable 14% dividend yield, making it an interesting consideration for income-focused investors.
Sound Point Meridian, 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 estimate in the filing.
The filing does not mention any specific factors that might have influenced the NAV estimate, nor does it elaborate on the company's strategies or operational developments. It is purely a factual representation of the company's estimated value per share at a specific point in time.
In other recent news, Sound Point Meridian Capital reported an estimated net asset value (NAV) per share range of $20.55 to $20.65 as of October 31, 2024, following a previous estimate of $19.55 to $19.65 as of September 30, 2024.
This financial data is key for investors, as NAV per share is often used to assess the current value of a company's assets on a per-share basis. The company has also undergone significant leadership changes, with Matthew Forstenhausler replacing Steven Lipiner as Director and Chair of the Audit Committee, and Lucas D. Foss assuming the role of Chief Compliance Officer after Ivana Kovačić's resignation.
On the analyst front, B.Riley has awarded Sound Point Meridian Capital a new Buy rating, while Oppenheimer has given the company an Outperform rating. Projections from Oppenheimer suggest earnings per share of $1.11 for 2024, $2.52 for 2025, and $2.54 for 2026.
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