RBC Sees Stable Earnings Path for Main Street Capital (MAIN) Despite Minor Target Cut

Main Street Capital Corporation (NYSE:MAIN) is included among the 13 Highest Paying Monthly Dividend Stocks to Buy.

On December 9, RBC Capital analyst Kenneth Lee trimmed his price target on Main Street Capital Corporation (NYSE:MAIN) to $66 from $67. He kept an Outperform rating on the stock. RBC still sees support for earnings and noted that net interest income could benefit as the portfolio continues to ramp and dividend income adds to results. That upside may be partly offset by a modest dip in asset yields, based on the current rate outlook.

Main Street Capital Corporation (NYSE:MAIN) also shared an update on its investment activity. On December 2, the company said it completed a follow-on investment in an existing portfolio company, Chamberlin Holding LLC. Chamberlin is a well-known specialty roofing and waterproofing contractor.

Main Street partnered with MSC Income Fund on the deal. The investment supports Chamberlin’s acquisition of a commercial roofing contractor in the Southeastern US. Main Street’s share included an additional $20 million first-lien, senior secured term loan. Both firms first invested in Chamberlin back in February 2018.

Chamberlin was founded in 1897 and is based in Houston, Texas. The company focuses on installing high-quality commercial roofing and waterproofing systems.

Main Street Capital Corporation (NYSE:MAIN) is an investment firm that provides long-term debt and equity capital to lower middle-market businesses. It also supplies debt financing to private companies backed by private equity or in the middle of an acquisition.

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