Gladstone Capital Co. (NASDAQ:GLAD) announced a monthly dividend on Friday, January 14th, Wall Street Journal reports. Stockholders of record on Wednesday, March 23rd will be given a dividend of 0.065 per share by the investment management company on Thursday, March 31st. This represents a $0.78 dividend on an annualized basis and a dividend 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 dividend payout ratio of 97.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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 stock opened at $11.28 on Friday. The stock has a market capitalization of $386.90 million, a P/E ratio of 4.44, a P/E/G ratio of 2.88 and a beta of 1.38. The firm has a 50-day simple moving average of $11.55 and a 200-day simple moving average of $11.52. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.16. Gladstone Capital has a 52 week low of $9.02 and a 52 week high of $12.58.
A number of institutional investors and hedge funds have recently bought and sold shares of GLAD. Morgan Stanley boosted its position in 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 acquiring an additional 27,908 shares during the last quarter. UBS Group AG boosted its holdings 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 purchasing an additional 8,537 shares during the last quarter. Royal Bank of Canada boosted its holdings in Gladstone Capital by 14.6% in the 3rd quarter. Royal Bank of Canada now owns 25,481 shares of the investment management company’s stock valued at $289,000 after purchasing an additional 3,246 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Gladstone Capital by 79.4% in the 2nd quarter. Wells Fargo & Company MN now owns 7,037 shares of the investment management company’s stock valued at $80,000 after purchasing an additional 3,115 shares during the last quarter. Hedge funds and other institutional investors own 10.24% of the company’s stock.
Separately, Zacks Investment Research raised shares of Gladstone Capital from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note 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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