Palmer Square Capital BDC Inc. (PSBD) Q3 2025 Earnings Call Transcript
Capital Deployed $138.7 million deployed during the third quarter of 2025.
Total Investment Income $31.7 million, down 15.1% year-over-year from $37.3 million. The decrease is attributed to market conditions and lower yields.
Net Investment Income $13.6 million or $0.43 per share, compared to $15.7 million or $0.48 per share in the prior year. The decline is due to reduced total investment income.
Net Realized and Unrealized Losses $10.3 million in the third quarter of 2025, compared to $8.2 million in the third quarter of 2024. This includes net unrealized depreciation of $7.9 million on existing portfolio investments.
Net Asset Value (NAV) per Share $15.39 as of September 30, 2025, down from $15.68 at the end of the second quarter of 2025. The decline is due to net realized and unrealized losses.
Debt-to-Equity Ratio 1.53x at the end of the third quarter of 2025, slightly up from 1.51x at the end of the second quarter of 2025.
Available Liquidity $252.8 million as of September 30, 2025, compared to $253.5 million at the end of the second quarter of 2025.
Stock Repurchase 343,064 shares repurchased at an average price of $13.75, totaling $4.72 million during the third quarter of 2025.
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Palmer Square Capital Declares $0.07 Supplemental Dividend per Share for Q4 2025
- Dividend Announcement: Palmer Square Capital BDC has declared a supplemental dividend of $0.07 per share for Q4 2025, indicating the company's ability to provide additional returns to shareholders based on sustained profitability, thereby enhancing investor confidence.
- Shareholder Returns: The supplemental dividend will be payable on January 14, 2026, to shareholders of record as of December 29, 2025, demonstrating the company's commitment to increasing shareholder value through stable cash flows and investment income.
- Base Dividend Context: This supplemental dividend will be paid from the excess of the company’s undistributed net investment income above the base dividend of $0.36 per share for Q4 2025, reflecting the company's success and stability in investment management.
- Investment Strategy: Palmer Square primarily invests in corporate debt loans, and with the expertise of its investment adviser, aims to maximize total returns, further solidifying its competitive position in the market.
Ambev Analyst Changes Stance; Check Out Wednesday's Top 3 Downgrades
Analyst Downgrades: Bernstein analyst Nadine Sarwat downgraded Ambev S.A. from Outperform to Market Perform with a price target of $2.88, while shares closed at $2.51.
Palmer Square Capital BDC Inc: RBC Capital analyst Kenneth Lee downgraded Palmer Square Capital BDC from Outperform to Sector Perform, lowering the price target from $15 to $13, with shares closing at $12.39.
Morgan Stanley Direct Lending Fund: Kenneth Lee also downgraded Morgan Stanley Direct Lending Fund from Outperform to Sector Perform, reducing the price target from $19 to $18, with shares closing at $17.24.
Market Overview: The article provides a summary of recent analyst rating changes for various stocks, indicating a cautious outlook from top Wall Street analysts.
RBC Capital Lowers Palmer Square Capital BDC Rating to Sector Perform and Reduces Price Target to $13
Real-time Intelligence: Benzinga Pro offers the fastest news alerts for traders to stay updated on market movements.
Exclusive Content: The platform provides exclusive stories and insights generated by Benzinga reporters for its users.
Earnings Call Transcript for Palmer Square BDC (PSBD)
- Author's Perspective: The views and opinions presented are solely those of the author.
- No Official Endorsement: The content does not necessarily reflect the views of Nasdaq, Inc.
Palmer Square Capital BDC Inc. Declares Supplemental Dividend of $0.06 for Third Quarter 2025
Dividend Announcement: Palmer Square Capital BDC Inc. has declared a supplemental dividend of $0.06 per share for the third quarter of 2025, payable on October 14, 2025, to shareholders of record as of September 26, 2025.
Company Overview: Palmer Square Capital BDC Inc. is a non-diversified closed-end management investment company that primarily invests in corporate debt loans, focusing on maximizing total return through current income and capital appreciation.
Palmer Square Capital Management Launches Europe's First Passive CLO ETF on the London Stock Exchange
Launch of PCL0 ETF: Palmer Square Capital Management has launched the Palmer Square EUR CLO Senior Debt Index UCITS ETF (PCL0) on the London Stock Exchange, marking it as the first passive Euro-denominated CLO ETF in Europe, aimed at institutional investors.
Investment Focus and Compliance: PCL0 targets AAA and AA-rated CLO debt, is benchmarked to Palmer Square's proprietary EUR CLO Senior Debt Index, and complies with European ESG standards, providing a streamlined investment tool for accessing the senior CLO debt market.
Palmer Square Capital Declares $0.07 Supplemental Dividend per Share for Q4 2025
- Dividend Announcement: Palmer Square Capital BDC has declared a supplemental dividend of $0.07 per share for Q4 2025, indicating the company's ability to provide additional returns to shareholders based on sustained profitability, thereby enhancing investor confidence.
- Shareholder Returns: The supplemental dividend will be payable on January 14, 2026, to shareholders of record as of December 29, 2025, demonstrating the company's commitment to increasing shareholder value through stable cash flows and investment income.
- Base Dividend Context: This supplemental dividend will be paid from the excess of the company’s undistributed net investment income above the base dividend of $0.36 per share for Q4 2025, reflecting the company's success and stability in investment management.
- Investment Strategy: Palmer Square primarily invests in corporate debt loans, and with the expertise of its investment adviser, aims to maximize total returns, further solidifying its competitive position in the market.
Ambev Analyst Changes Stance; Check Out Wednesday's Top 3 Downgrades
Analyst Downgrades: Bernstein analyst Nadine Sarwat downgraded Ambev S.A. from Outperform to Market Perform with a price target of $2.88, while shares closed at $2.51.
Palmer Square Capital BDC Inc: RBC Capital analyst Kenneth Lee downgraded Palmer Square Capital BDC from Outperform to Sector Perform, lowering the price target from $15 to $13, with shares closing at $12.39.
Morgan Stanley Direct Lending Fund: Kenneth Lee also downgraded Morgan Stanley Direct Lending Fund from Outperform to Sector Perform, reducing the price target from $19 to $18, with shares closing at $17.24.
Market Overview: The article provides a summary of recent analyst rating changes for various stocks, indicating a cautious outlook from top Wall Street analysts.
RBC Capital Lowers Palmer Square Capital BDC Rating to Sector Perform and Reduces Price Target to $13
Real-time Intelligence: Benzinga Pro offers the fastest news alerts for traders to stay updated on market movements.
Exclusive Content: The platform provides exclusive stories and insights generated by Benzinga reporters for its users.
Earnings Call Transcript for Palmer Square BDC (PSBD)
- Author's Perspective: The views and opinions presented are solely those of the author.
- No Official Endorsement: The content does not necessarily reflect the views of Nasdaq, Inc.
Palmer Square Capital BDC Inc. Declares Supplemental Dividend of $0.06 for Third Quarter 2025
Dividend Announcement: Palmer Square Capital BDC Inc. has declared a supplemental dividend of $0.06 per share for the third quarter of 2025, payable on October 14, 2025, to shareholders of record as of September 26, 2025.
Company Overview: Palmer Square Capital BDC Inc. is a non-diversified closed-end management investment company that primarily invests in corporate debt loans, focusing on maximizing total return through current income and capital appreciation.
Palmer Square Capital Management Launches Europe's First Passive CLO ETF on the London Stock Exchange
Launch of PCL0 ETF: Palmer Square Capital Management has launched the Palmer Square EUR CLO Senior Debt Index UCITS ETF (PCL0) on the London Stock Exchange, marking it as the first passive Euro-denominated CLO ETF in Europe, aimed at institutional investors.
Investment Focus and Compliance: PCL0 targets AAA and AA-rated CLO debt, is benchmarked to Palmer Square's proprietary EUR CLO Senior Debt Index, and complies with European ESG standards, providing a streamlined investment tool for accessing the senior CLO debt market.
