Gladstone Capital Co. (NASDAQ:GLAD) declared a monthly dividend on Tuesday, October 12th, Zacks reports. Shareholders of record on Friday, October 22nd will be given a dividend of 0.065 per share by the investment management company on Friday, October 29th. This represents a $0.78 annualized dividend and a yield of 6.88%. The ex-dividend date is Thursday, October 21st.
Gladstone Capital has decreased its dividend by 5.4% over the last three years and has raised its dividend every year for the last 2 years. Gladstone Capital has a payout ratio of 98.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Gladstone Capital to earn $0.79 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 98.7%.
GLAD stock opened at $11.33 on Thursday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.08. Gladstone Capital has a 12 month low of $6.97 and a 12 month high of $12.05. The firm has a market cap of $388.66 million, a P/E ratio of 5.99, a P/E/G ratio of 4.77 and a beta of 1.46. The company’s 50-day moving average price is $11.50 and its two-hundred day moving average price is $11.25.
A hedge fund recently raised its stake in Gladstone Capital stock. Morgan Stanley increased its holdings in shares of Gladstone Capital Co. (NASDAQ:GLAD) by 15.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 210,688 shares of the investment management company’s stock after buying an additional 27,908 shares during the period. Morgan Stanley owned about 0.61% of Gladstone Capital worth $2,408,000 at the end of the most recent quarter. 10.47% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on the stock. Oppenheimer assumed coverage on shares of Gladstone Capital in a report on Monday, June 28th. They set a “market perform” rating and a $10.00 price target on the stock. Zacks Investment Research raised shares of Gladstone Capital from a “sell” rating to a “hold” rating in a report on Wednesday, October 6th.
About Gladstone Capital
Gladstone Capital is a specialty finance company that invests in debt securities consisting primarily of senior term loans, senior subordinated loans, and junior subordinated loans in small and medium sized companies, that meet certain criteria. The criteria can include some or all of the following: the potential for growth in cash flow, adequate assets for loan collateral, experienced management teams with significant ownership interest in the business, adequate capitalization, profitable operations based on the borrower’s cash flow, reasonable capitalization of the borrower and the potential to realize appreciation and gain liquidity in our equity position, if any.
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