Financial Highlights (Tables)

12 Months Ended

Dec. 31, 2022

Financial Highlights

Schedule of financial highlights and supplemental ratios

	For the years ended December 31,
	2022			2021			2020			2019			2018
Per share data:
Net asset value at beginning of year	$	11.51		$	11.00		$	12.20		$	12.66		$	13.77
Net investment income (1)		1.02			1.03			1.45			1.42			1.57
Net gain (loss) (1)		(1.15)			0.48			(1.37)			(0.48)			(1.28)
Net increase (decrease) in net assets resulting from operations (1)		(0.13)			1.51			0.08			0.94			0.29
Stockholder distributions – income		(1.00)			(1.00)			(1.10)			(1.40)			(1.40)
Stockholder distributions – capital gains		—			—			—			—			—
Stockholder distributions – return of capital		—			—			—			—			—
Effect of share issuance above (below) NAV (2)		—			—			(0.18)			—			—
Effect of share repurchases (2)		—			—			—			—			—
Other (2)		0.01			—			—			—			—
Net asset value at end of year	$	10.39		$	11.51		$	11.00		$	12.20		$	12.66
Net assets at end of year	$	225,019		$	249,471		$	234,434		$	249,357		$	258,767
Shares outstanding at end of year		21,666,340			21,666,340			21,303,540			20,444,564			20,444,564
Per share market value at end of year	$	8.54		$	11.22		$	8.03		$	10.86		$	9.60
Total return based on market value (3)		(15.20)	%		53.26	%		(13.86)	%		27.68	%		(21.74)	%
Total return based on average net asset value (4)		(1.18)	%		13.40	%		0.72	%		7.53	%		2.17	%
Ratio/Supplemental data: (5)
Ratio of net investment income to average net assets		9.42	%		9.15	%		13.32	%		11.38	%		11.85	%
Ratio of total expenses, net of base management fee and incentive fee waivers, to average net assets		14.60	%		13.07	%		13.68	%		15.35	%		9.84	%
Portfolio turnover		24.93	%		41.80	%		25.24	%		27.18	%		31.53	%

	For the years ended December 31,
	2017			2016			2015			2014			2013
Per share data:
Net asset value at beginning of year	$	14.52		$	14.19		$	14.05		$	13.92		$	14.54
Net investment income (1)		1.40			1.55			1.60			1.57			1.13
Net gain (loss) (1)		(0.75)			0.13			(0.07)			(0.12)			0.15
Net increase (decrease) in net assets from operations (1)		0.65			1.68			1.53			1.45			1.28
Stockholder distributions – income		(1.37)			(1.40)			(1.37)			(1.36)			(1.15)
Stockholder distributions – capital gains		(0.03)			—			(0.03)			—			—
Stockholder distributions – return of capital		—			—			—			—			(0.21)
Effect of share issuance above (below) NAV (2)		—			0.05			—			—			(0.57)
Effect of share repurchases (2)		—			—			—			0.04			0.03
Other (2)		—			—			0.01			—			—
Net asset value at end of year	$	13.77		$	14.52		$	14.19		$	14.05		$	13.92
Net assets at end of year	$	278,699		$	240,850		$	184,535		$	133,738		$	138,092
Shares outstanding at end of year		20,239,957			16,581,869			13,008,007			9,517,910			9,918,269
Per share market value at end of year	$	13.75		$	15.38		$	13.09		$	14.46		$	12.20
Total return based on market value (3)		(1.82)	%		28.95	%		(0.21)	%		30.67	%		(9.29)	%
Total return based on average net asset value (4)		4.58	%		11.70	%		11.04	%		10.34	%		9.17	%
Ratio/Supplemental data: (5)
Ratio of net investment income to average net assets		9.80	%		10.81	%		11.56	%		11.20	%		7.71	%
Ratio of total expenses, net of base management fee and incentive fee waivers, to average net assets		9.46	%		10.81	%		11.20	%		11.03	%		8.53	%
Portfolio turnover		39.39	%		22.41	%		30.70	%		47.03	%		39.77	%

(1) Calculated using the weighted average shares outstanding during the years presented.

(2) Includes the effect of share issuances above (below) net asset value and the impact of different share amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the period and certain per share data based on shares outstanding as of a period end or transaction date.

(3) Total return based on market value is calculated assuming a purchase of common shares at the market value on the first day and a sale at the market value on the last day of the periods reported. Distributions, if any, are assumed for purposes of this calculation to be reinvested at prices obtained under the Company’s DRIP. Total return based on market value does not reflect brokerage commissions.

(4) Total return based on average net asset value is calculated by dividing the net increase (decrease) in net assets resulting from operations by the average net asset value.

(5) The following is a schedule of supplemental ratios for the years presented.

	2022		2021		2020		2019		2018
Ratio of total investment income to average net assets	24.02	%	22.22	%	27.00	%	26.73	%	21.69	%
Ratio of interest and other debt financing expenses to average net assets	7.25	%	6.63	%	7.89	%	7.95	%	4.56	%
Ratio of total expenses (without base management fee waivers and incentive fees) to average net assets	13.09	%	12.16	%	13.86	%	13.61	%	9.19	%
Ratio of incentive fees, net of incentive fee waivers, to average net assets (6)	1.53	%	0.91	%	0.00	%	1.74	%	0.65	%

	2017		2016		2015		2014		2013
Ratio of total investment income to average net assets	19.26	%	21.62	%	22.76	%	22.23	%	17.10	%
Ratio of interest and other debt financing expenses to average net assets	3.13	%	3.26	%	3.33	%	3.23	%	2.59	%
Ratio of total expenses (without base management fee waivers and incentive fees) to average net assets	7.43	%	8.17	%	8.31	%	8.42	%	7.15	%
Ratio of incentive fees, net of incentive fee waivers, to average net assets (6)	2.03	%	2.64	%	2.89	%	2.61	%	1.38	%

(6) The ratio of waived incentive fees to average net assets was 0.22%, 0.61%, 0.31%, 0.46%, zero, 0.12%, 0.13%, zero, zero and zero for the years presented.