Gladstone Capital Co. (NASDAQ:GLAD) declared a monthly dividend on Friday, January 14th, Wall Street Journal reports. Shareholders of record on Wednesday, March 23rd will be paid a dividend of 0.065 per share by the investment management company on Thursday, March 31st. This represents a $0.78 annualized dividend and a yield of 6.91%. The ex-dividend date is Tuesday, March 22nd.
Gladstone Capital has decreased its dividend by 7.1% over the last three years. Gladstone Capital has a payout ratio of 97.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Gladstone Capital to earn $0.80 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 97.5%.
GLAD traded down $0.15 during trading on Friday, hitting $11.28. The company’s stock had a trading volume of 168,988 shares, compared to its average volume of 129,009. The firm’s 50 day moving average price is $11.56 and its 200-day moving average price is $11.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.03 and a quick ratio of 0.03. The stock has a market cap of $386.95 million, a PE ratio of 4.50, a PEG ratio of 2.89 and a beta of 1.38. Gladstone Capital has a twelve month low of $9.02 and a twelve month high of $12.58.
A number of large investors have recently bought and sold shares of the business. UBS Group AG boosted its position in Gladstone Capital by 19.0% in the 3rd quarter. UBS Group AG now owns 53,551 shares of the investment management company’s stock valued at $605,000 after buying an additional 8,537 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Gladstone Capital by 14.6% during the third quarter. Royal Bank of Canada now owns 25,481 shares of the investment management company’s stock worth $289,000 after purchasing an additional 3,246 shares during the last quarter. Morgan Stanley lifted its position in shares of Gladstone Capital by 15.3% during the second quarter. Morgan Stanley now owns 210,688 shares of the investment management company’s stock worth $2,408,000 after purchasing an additional 27,908 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Gladstone Capital by 79.4% during the second quarter. Wells Fargo & Company MN now owns 7,037 shares of the investment management company’s stock worth $80,000 after purchasing an additional 3,115 shares during the last quarter. 10.24% of the stock is owned by institutional investors.
Separately, Zacks Investment Research upgraded Gladstone Capital from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Wednesday, December 29th.
Gladstone Capital Company Profile
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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