Advanced Flower Capital reported third quarter 2026 total investment income of $8.6 million, slightly missing analyst expectations. GAAP net investment income reached $0.16 per share, aligning with estimates, while Net Asset Value (NAV) per share grew 3.6% sequentially to $8.55. The company declared a cash distribution of $0.05 per share for the quarter, significantly lower than the prior expectation mentioned in the preview.
Key Highlights
- NAV per share increased from $8.25 to $8.55, driven by $0.06 per share in accretion from repurchasing 285,656 shares at a 58% discount to book value.
- The investment portfolio remained stable at $289.6 million across 18 investments, maintaining 100% senior secured first lien debt with a weighted average yield of 13.3%.
- Leverage improved during the period, with net debt-to-equity decreasing to 0.49x from 0.53x at the end of the previous quarter.