EUR/USD likely to find a peak near 1.25: UBS
In a remarkable display of resilience and growth, FS KKR Capital Corp. (NYSE:FSK) stock has soared to a 52-week high, reaching a price level of $23.49, while maintaining an attractive 12.4% dividend yield. According to InvestingPro, the company has consistently paid dividends for 11 consecutive years. This peak reflects a significant uptrend for the investment firm, which has achieved an impressive 34.4% total return over the past year, supported by a "GREAT" overall financial health score from InvestingPro. Investors have shown increased confidence in FSK's strategic initiatives and performance, propelling the stock to new heights over the past year and setting a robust precedent for the company's future trajectory in the market. InvestingPro subscribers have access to 7 additional key insights about FSK's valuation and growth prospects.
In other recent news, FS KKR Capital Corp has been involved in substantial capital market activities. The company issued an additional $100 million of its 6.125% notes due 2030, a move aligned with their broader strategy to manage its capital structure and funding requirements. This follows a previous issuance and sale of $600 million in notes. Both offerings were underwritten by a consortium of banks, including BofA Securities, BMO Capital Markets, and J.P. Morgan Securities.
On the analyst front, Wells Fargo (NYSE:WFC) downgraded FS KKR Group from Overweight to Equal Weight due to valuation and credit risk concerns. This shift in stance was influenced by reduced upside potential and concerns about credit risks associated with FSK's loan portfolio. Meanwhile, RBC Capital Markets maintained a Sector Perform rating on the company, adjusting the price target to $21 from the previous $20 after reviewing the company's earnings per share estimates.
These are recent developments for FS KKR Capital Corp, which has been actively reducing non-accruals within its portfolio. The company's strategic efforts in the capital market and the mixed views from analysts highlight the dynamic nature of the investment landscape.
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