MidCap Financial: A Well-Covered 9.4% Yield, But Don't Chase It
MFICMidCap Financial Investment (MFIC) Seeking Alpha·2024-06-11 00:01
PM Images Back in December 2023, I modified my stock classification for MidCap Financial Investment Corporation (NASDAQ:MFIC) to a 'Hold' because I had anticipated a fast decline in short-term interest rates. The BDC’s 100% floating-rate exposure strongly hinted at softening net investment income prospects in a lower-rate environment, which so far has not materialized. A reluctant central bank obviously benefited MidCap Financial Investment, and the stock has enjoyed an almost 20% rise in the first coup ...