Gladstone Capital Co. (NASDAQ:GLAD) Declares Monthly Dividend of $0.07
Gladstone Capital Co. (NASDAQ:GLAD – Get a rating) announced a monthly dividend on Friday July 15, the wall street journal reports. Shareholders of record on Thursday, September 22 will receive a dividend of 0.0675 per share from the investment management company on Friday, September 30. This represents a dividend of $0.81 on an annualized basis and a yield of 7.66%. The ex-dividend date is Wednesday, September 21.
Gladstone Capital has decreased its dividend by an average of 2.4% per year over the past three years and has increased its dividend each year for the past 1 years. Gladstone Capital has a dividend payout ratio of 93.1%, indicating that its dividend is currently being covered by earnings, but may not be in the future if the company’s earnings decline . Equity research analysts expect Gladstone Capital to earn $0.87 per share next year, meaning the company should continue to be able to cover its $0.81 annual dividend with an expected future payout ratio of 93.1%.
Gladstone Capital trades up 2.5%
GLAD stock traded at $0.26 at midday on Friday, hitting $10.58. 3,429 shares of the stock have traded, compared to its average volume of 211,990. The company has a current ratio of 0.03, a quick ratio of 0.03 and a leverage ratio of 0.05. Gladstone Capital has a 52-week low of $9.43 and a 52-week high of $12.78. The company has a market capitalization of $362.89 million, a P/E ratio of 4.98 and a beta of 1.30. The stock’s fifty-day moving average is $10.76 and its 200-day moving average is $11.21.
Gladstone Capital (NASDAQ: GLAD- Get a rating) last released its quarterly results on Tuesday, May 3. The investment management firm reported earnings per share (EPS) of $0.25 for the quarter, beating analyst consensus estimates of $0.20 by $0.05. The company posted revenue of $17.26 million in the quarter, compared to analyst estimates of $14.79 million. Gladstone Capital had a net margin of 115.70% and a return on equity of 9.93%. As a group, sell-side analysts expect Gladstone Capital to post earnings per share of 0.93 for the current year.
Analyst upgrades and downgrades
Several stock analysts have commented on the company. StockNews.com assumed cover for Gladstone Capital in a Thursday, March 31 report. They have set a “holding” rating on the stock. Raymond James assumed cover for Gladstone Capital in a report on Wednesday, April 6. They set a “market performance” rating on the stock. Finally, Janney Montgomery Scott assumed cover for Gladstone Capital in a report on Tuesday. They set a “neutral” rating on the stock.
Institutional entries and exits
Hedge funds and other institutional investors have recently been buying and selling shares of the company. Cambridge Investment Research Advisors Inc. increased its holdings of Gladstone Capital shares by 31.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,579 shares of the investment management company valued at $195,000 after acquiring 4,004 additional shares during the period. Private Advisor Group LLC increased its holdings of Gladstone Capital shares by 9.5% in the first quarter. Private Advisor Group LLC now owns 11,483 shares of the investment management firm valued at $135,000 after acquiring an additional 1,000 shares during the period. Great West Life Assurance Co. Can increased its equity stake in Gladstone Capital by 20.1% during the first quarter. Great West Life Assurance Co. Can now owns 12,508 shares of the investment management company valued at $157,000 after acquiring 2,096 additional shares during the period. Blair William & Co. IL bought a new position in shares of Gladstone Capital during the first quarter worth $136,000. Finally, UBS Group AG increased its equity stake in Gladstone Capital by 14.5% during the first quarter. UBS Group AG now owns 52,790 shares of the investment management company valued at $622,000 after acquiring an additional 6,673 shares during the period. 10.38% of the shares are held by institutional investors.
About Gladstone Capital
Gladstone Capital Corporation is a business development firm specializing in lower middle market, growth capital, incremental acquisitions, change of control, buy and build strategies, debt refinancing, equity investments first lien term loans, revolving loans, first and second lien secured term loans. , senior subordinated loans, unitranche loans, junior subordinated loans and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests or warrants.
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