Private Credit Portfolio Analysis | Stellus Capital Investment Corp Reports 2024 Annual Results
- Editor
- Mar 4
- 2 min read
Whats New:
Stellus Capital Investment Corp reported its 2024 annual financial results, showing significant growth in total assets and investments compared to the previous year. The fund's total assets increased to $980.9 million as of December 31, 2024, up from $908.1 million at the end of 2023. Net asset value per share also improved to $13.46, compared to $13.26 at the end of 2023.
Portfolio Dynamics:
Total assets grew to $980.9 million as of December 31, 2024, compared to $908.1 million at the end of 2023.
Investments owned at fair value increased to $953.5 million, up from $874.5 million at the end of 2023.
Cash and cash equivalents decreased to $20.1 million from $26.1 million at the end of 2023.
Investment Activty:
Payments for purchase of investments were $221.2 million in 2024, compared to $183.9 million in 2023.
Proceeds from disposition of investments were $151.8 million in 2024, up from $134.2 million in 2023.
Net realized gains on investments were $15.7 million in 2024, down from $30.2 million in 2023.
Capital Structure:
Long-term debt increased to $593.0 million from $575.8 million at the end of 2023.
Stockholders' equity grew to $369.9 million from $319.9 million at the end of 2023.
The fund issued additional common stock, with the value increasing to $27,481 from $24,125 at the end of 2023.
Performance Profile:
Net asset value per share increased to $13.46 as of December 31, 2024, compared to $13.26 at the end of 2023.
Net income for 2024 was $45.8 million, up from $17.5 million in 2023.
Total investment income data not provided in the source material.
Risk & Quality:
Management fee payable increased to $4.0 million from $2.9 million at the end of 2023.
Income incentive fee payable rose to $3.1 million from $2.9 million at the end of 2023.
Deferred income tax liabilities decreased from $188,893 at the end of 2023 to $0 at the end of 2024.
The Wrap:
Stellus Capital Investment Corp demonstrated strong growth in 2024, with significant increases in total assets, investments at fair value, and stockholders' equity. The fund's net asset value per share improved, reflecting positive performance. However, the increase in long-term debt and various fee payables suggests higher costs associated with the fund's expanded operations and investment activities. The decrease in cash and cash equivalents, coupled with increased investment purchases, indicates an active investment strategy.
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