TCP Capital

Blackrock TCP Capital Corp. is an externally managed, closed-end and non-diversified management investment company. The firm invests primarily in the debt of middle market companies as well as small businesses, including senior secured loans, junior loans, mezzanine debt and bonds. Its investment objective is to seek to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. The company was founded on April 2, 2012 and is headquartered in Santa Monica, CA.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

TCP Capital reports Q2 results, maintains dividend coverage amid challenges

TCP Capital (TCPC) navigated challenges in Q2 2024 with an 8.4% NAV decline and several portfolio companies moving to non-accrual status, while maintaining a disciplined approach to capital deployment and dividend coverage.
Despite net realized and unrealized losses, the company raised fixed rate unsecured debt, extended its credit facility, and highlighted increased investment activity and effective portfolio yield.
Looking ahead, TCP Capital aims to leverage its liquidity, sponsor support, and investment manager backing to capitalize on opportunities for growth and navigate market uncertainties.

TCPC reports strong Q3 earnings, faces challenges in investments

TCPC's Q3 performance showed solid earnings and dividend declarations, with a focus on managing non-accruals and optimizing outcomes.
The company's portfolio strength lies in meeting or exceeding expectations, high yields, and stable management commitment to shareholder returns.
Challenges include marked down positions, potential investment risks, and adapting to a declining rate environment.
Opportunities exist in available liquidity for investments, potential new licenses, adapting to market changes, and enhancing portfolio outcomes.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Ares Capital

Golub Capital BDC

High interest rates, decent demand for personalized finance, solid asset quality and regulatory changes are likely to keep aiding the Zacks SBIC & Commercial Finance industry players like Ares Capital (ARCC), Golub Capital (GBDC) and BlackRock TCP (TCPC).

3 SBIC & Commercial Finance Stocks From a Thriving Industry

BlackRock TCP Capital is paying out a 12.8% dividend yield and is currently trading at a 10% discount to NAV per share. The investment grade-rated BDC has seen NAV per share dip for two consecutive quarters despite outearning its dividend. 2024 offers a step change in current optimal macroeconomic conditions, and BDCs will see more headwinds from what's likely to be 150 basis points of interest rate cuts.

BlackRock TCP Capital: Should You Grab This 12.8% Yield For 2024?

Barings BDC Inc

BlackRock Capital Investment

Fidus Investment

FS KKR Capital Corp

Goldman Sachs BDC

Prospect Capital

Runway Growth Finance Corp

Buying a business development company (BDCs) is kinda, sorta like investing like a venture capitalist (VC).

How To Earn Yields Up To 15% From Small Business

American Assets

Ares Commercial Real Estate

Ally Financial

Apollo Commercial Real Estate Finance

Axos Financial Inc.

Bain Capital Specialty Finance Inc

Brandywine Realty

Broadridge Financial

Chimera Investment

CION Investment Corp

Central Pacific Financial

Easterly Government Properties

Euronet Worldwide

Eagle Bancorp

First Interstate BancSystem

Shift4 Payments

GCM Grosvenor Inc

Green Dot

Highwoods Properties

Robinhood

Healthcare Realty Trust Inc

KeyCorp

Kimco Realty

KKR Real Estate Finance Trust

LTC Properties

Moelis

Medical Properties Trust

Marqeta

nCino, Inc.

Newtek Business Services

National Health Investors

Bank of N.T. Butterfield & Son

Nuvei Corp

NexPoint Residential Trust

New York Mortgage Trust

Orchid Island Capital

Patria Investments

Piedmont Office Realty Trust

PennyMac Mortgage Investment

Prudential Financial

Stifel Financial

Solar Capital

Spirit Realty Capital

SS&C Technologies Hlds

STAG Industrial

Toast

Tradeweb Markets

UMH Properties

Washington Trust Bancorp

W. P. Carey

Western Union

NEW YORK, Dec. 08, 2023 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE: SF), announces the upcoming index rebalancing for the fourth quarter of 2023.

KBW Announces Index Rebalancing for Fourth-Quarter 2023

Apple

Bank of America

British American Tobacco

Johnson & Johnson

Mastercard

Main Street Capital

Realty Income Corp

Philip Morris

Royal Bank of Canada

Schwab US Dividend Equity ETF

AT&T

In this article, I will demonstrate how you could build a diversified dividend portfolio that blends dividend income with dividend growth, aiming towards achieving an attractive Total Return. I will use The Dividend Income Accelerator Portfolio as an example, and will show that it already successfully balances dividend income with dividend growth, striving to maximize investor benefits. I will explain in greater detail how this portfolio reduces risk for investors, thereby enhancing the probability of reaching attractive investment returns.

How To Build A High-Potential Dividend Portfolio Combining Dividend Income With Dividend Growth

Blackstone Secured Lending Fund

Capital Southwest

Hercules Capital

New Mountain Finance

Blue Owl Capital Corp

Oaktree Specialty Lending

Sixth Street Specialty Lending

Ares Capital Corp. and Sixth Street Specialty Lending Inc. held onto the highest debt ratings among the 21 business development companies covered by Fitch Ratings, amid expectations that the sector will face economic headwinds in 2024, but with no major impact to their balance sheets.

Business development companies should withstand 2024 economic slowdown, but credit conditions will weaken, Fitch says

The generation of income via dividends allows you to support your financial expenditures without needing to liquidate positions of your portfolio. In this article, I will introduce you to two Business Development Companies (BDCs), that pay large amounts of dividends and which I have added to The Dividend Income Accelerator Portfolio. After their inclusion, the Weighted Average Dividend Yield [TTM] of The Dividend Income Accelerator Portfolio is at an attractive level of 4.49%.

2 Stocks Yielding Up To 12%: The Latest Acquisitions For The Dividend Income Accelerator Portfolio

BlackRock TCP Capital yields 12%-plus, with 1.15X coverage, and a history of good dividend coverage. An upcoming merger in Q1 2024 will add scale to its operations. BlackRock TCP Capital sells at a 12% discount.

BlackRock TCP Capital: Upcoming Merger, Undervalued, 12% Discount

BlackRock TCP Capital Corp. (NASDAQ:TCPC ) Q3 2023 Earnings Conference Call November 2, 2023 1:00 PM ET Company Participants Katie McGlynn - Director of Investor Relations Rajneesh Vig - Chairman and Chief Executive Officer Philip Tseng - President and Chief Operating Officer Erik Cuellar - Chief Financial Officer Conference Call Participants Robert Dodd - Raymond James Christopher Nolan - Ladenburg Thalmann Ryan Lynch - Keefe, Bruyette & Woods Operator Ladies and gentlemen, good afternoon. Welcome everyone to BlackRock TCP Capital Corp.'s Third Quarter 2023 Earnings Conference Call.

BlackRock TCP Capital Corp. (TCPC) Q3 2023 Earnings Call Transcript

SANTA MONICA, Calif.--(BUSINESS WIRE)--BlackRock TCP Capital Corp. (“we,” “us,” “our,” “TCPC” or the “Company”), a business development company (NASDAQ: TCPC), today announced its financial results for the third quarter ended September 30, 2023 and filed its Form 10-Q with the U.S. Securities and Exchange Commission. FINANCIAL HIGHLIGHTS Net investment income for the quarter ended September 30, 2023 was $28.3 million, or $0.49 per share on a diluted basis, which exceeded the regular quarterly d.

BlackRock TCP Capital Corp. Announces Third Quarter 2023 Financial Results Including Net Investment Income of $0.49 Per Share; Declares Fourth Quarter Dividend of $0.34 Per Share and a Special Dividend of $0.25 Per Share

High interest rates, decent demand for personalized finance, solid asset quality and regulatory changes will keep aiding the Zacks SBIC & Commercial Finance industry players like Hercules Capital (HTGC), Golub Capital (GBDC) and BlackRock TCP (TCPC).

3 SBIC & Commercial Finance Stocks From the Prospering Industry

LOS ANGELES, CA / ACCESSWIRE / September 29, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in BlackRock TCP Capital Corp. ("TCPC" or "the Company") (NASDAQ:TCPC) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to merge with and take on as a wholly owned, indirect subsidiary BlackRock Capital Investment Corporation ("BCIC"). The investigation focuses on determining if the TCPC board breached its fiduciary duties to shareholders by failing to conduct a fair process prior to the agreement.

INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against BlackRock TCP Capital Corp. and Encourages Investors with Losses to Contact the Firm

Arlington Asset Investment

AGNC Investment

ARMOUR Residential REIT

Blackstone Mortgage Trust

Cherry Hill Mortgage

Dynex Capital

Ellington Residential Mortgage REIT

Ellington Financial

Gladstone Investment

Granite Point Mortgage Trust

Invesco Mortgage Capital

MFA Financial

MidCap Financial Investment Corp

AG Mortgage Investment Trust

PennantPark Floating Rate Capital

Ready Capital Corp

Rithm Capital Corp

Two Harbors Investment

Rising interest rates pose challenges for many REITs by impacting debt rollovers and investor alternatives. Higher rates will add around $2 billion to the national debt over the next decade. Even more if they create a recession. Apartment construction is declining, affecting rental unit supply and potentially leading to increased rental rates. Pretty obvious when you think about it.

Big Dividend Yields Going Higher, Dumb Debt, And Snark

LOS ANGELES, CA / ACCESSWIRE / September 27, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in BlackRock TCP Capital Corp. ("TCPC" or "the Company") (NASDAQ:TCPC) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to merge with and take on as a wholly owned, indirect subsidiary BlackRock Capital Investment Corporation ("BCIC"). The investigation focuses on determining if the TCPC board breached its fiduciary duties to shareholders by failing to conduct a fair process prior to the agreement.

INVESTOR ACTION NOTICE: The Schall Law Firm Announces it is Investigating Claims Against BlackRock TCP Capital Corp. and Encourages Investors with Losses to Contact the Firm

SANTA MONICA, Calif.--(BUSINESS WIRE)--BlackRock TCP Capital Corp. (NASDAQ: TCPC) announced today that it will report its financial results for the third quarter ended September 30, 2023 on Thursday, November 2, 2023, prior to the opening of the financial markets. BlackRock TCP Capital Corp. will also host a conference call at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time) on Thursday, November 2, 2023, to discuss its financial results. All interested parties are invited to participate in the.

BlackRock TCP Capital Corp. to Report Third Quarter 2023 Financial Results on November 2, 2023

LOS ANGELES, CA / ACCESSWIRE / September 19, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in BlackRock TCP Capital Corp. ("TCPC" or "the Company") (NASDAQ:TCPC) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to merge with and take on as a wholly owned, indirect subsidiary BlackRock Capital Investment Corporation ("BCIC"). The investigation focuses on determining if the TCPC board breached its fiduciary duties to shareholders by failing to conduct a fair process prior to the agreement.

INVESTOR ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Against BlackRock TCP Capital Corp. and Encourages Investors with Losses to Contact the Firm

LOS ANGELES, CA / ACCESSWIRE / September 18, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in BlackRock TCP Capital Corp. ("TCPC" or "the Company") (NASDAQ:TCPC) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to merge with and take on as a wholly owned, indirect subsidiary BlackRock Capital Investment Corporation ("BCIC"). The investigation focuses on determining if the TCPC board breached its fiduciary duties to shareholders by failing to conduct a fair process prior to the agreement.

SHAREHOLDER ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Against BlackRock TCP Capital Corp. and Encourages Investors with Losses to Contact the Firm

We take a look at the action in business development companies through the second week of September and highlight some of the key themes we are watching. BDC sector fell around 1% this week and remains close to its longer-term average valuation level. Q2 reporting period showed a strong total NAV return, decrease in non-accruals, and an increase in BDC net income.

BDC Weekly Review: The Sector Put Up A Strong Q2

LOS ANGELES, CA / ACCESSWIRE / September 14, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in BlackRock TCP Capital Corp. ("TCPC" or "the Company") (NASDAQ:TCPC) for potential breaches of fiduciary duty on the part of its directors and management in connection with the Company's agreement to merge with and take on as a wholly owned, indirect subsidiary BlackRock Capital Investment Corporation ("BCIC"). The investigation focuses on determining if the TCPC board breached its fiduciary duties to shareholders by failing to conduct a fair process prior to the agreement.

SHAREHOLDER ALERT: The Schall Law Firm Announces it is Investigating Claims Against BlackRock TCP Capital Corp. and Encourages Investors with Losses to Contact the Firm

News for TCP Capital ETF (TCPC)