Gladstone Capital Co. (NASDAQ:GLAD) announced 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 of this dividend is Thursday, October 21st.
Gladstone Capital has decreased its dividend payment by 5.4% over the last three years and has raised its dividend every year for the last 2 years. Gladstone Capital has a dividend 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 tumble. Equities research 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%.
NASDAQ GLAD opened at $11.33 on Thursday. The company has a market cap of $388.66 million, a PE ratio of 5.99, a price-to-earnings-growth ratio of 4.77 and a beta of 1.46. Gladstone Capital has a 52 week low of $6.97 and a 52 week high of $12.05. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.08. The firm’s 50-day simple moving average is $11.50 and its two-hundred day simple moving average is $11.25.
Several equities research analysts have commented 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. Oppenheimer started coverage on shares of Gladstone Capital in a report on Monday, June 28th. They issued a “market perform” rating and a $10.00 price target on the stock.
A hedge fund recently raised its stake in Gladstone Capital stock. Wells Fargo & Company MN lifted its position in Gladstone Capital Co. (NASDAQ:GLAD) by 79.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,037 shares of the investment management company’s stock after buying an additional 3,115 shares during the quarter. Wells Fargo & Company MN’s holdings in Gladstone Capital were worth $80,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 10.47% of the company’s stock.
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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