Gladstone Capital Co. Plans Monthly Dividend of $0.07 (NASDAQ:GLAD)

Gladstone Capital Co. (NASDAQ:GLAD – Get Rating) declared a monthly dividend on Thursday, April 14th, Wall Street Journal reports. Stockholders of record on Friday, May 20th will be given a dividend of 0.0675 per share by the investment management company on Tuesday, May 31st. This represents a $0.81 annualized dividend and a dividend yield of 6.63%. The ex-dividend date is Thursday, May 19th.

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 tumble. 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%.

Gladstone Capital stock opened at $12.21 on Friday. The stock has a market cap of $418.80 million, a P/E ratio of 4.86, a price-to-earnings-growth ratio of 2.83 and a beta of 1.38. The stock has a 50 day moving average of $11.44 and a 200-day moving average of $11.44. Gladstone Capital has a 52 week low of $9.92 and a 52 week high of $12.58.

Gladstone Capital (NASDAQ:GLAD – Get Rating) last released its earnings results on Wednesday, February 2nd. The investment management company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.07. The company had revenue of $16.17 million during the quarter, compared to analysts’ expectations of $14.34 million. Gladstone Capital had a return on equity of 9.62% and a net margin of 147.34%. During the same period in the prior year, the business posted $0.20 EPS. Equities analysts forecast that Gladstone Capital will post 0.86 EPS for the current year.

Several equities research analysts recently issued reports on GLAD shares. StockNews.com started coverage on Gladstone Capital in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Raymond James started coverage on Gladstone Capital in a research report on Wednesday, April 6th. They set a “market perform” rating on the stock. Finally, Zacks Investment Research lowered Gladstone Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, April 6th.

Hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its position in Gladstone Capital by 79.4% in the second quarter. Wells Fargo & Company MN now owns 7,037 shares of the investment management company’s stock worth $80,000 after buying an additional 3,115 shares during the period. Royal Bank of Canada increased its position in Gladstone Capital by 14.6% in the third quarter. Royal Bank of Canada now owns 25,481 shares of the investment management company’s stock worth $289,000 after buying an additional 3,246 shares during the period. UBS Group AG increased its position in Gladstone Capital by 19.0% in the third quarter. UBS Group AG now owns 53,551 shares of the investment management company’s stock worth $605,000 after buying an additional 8,537 shares during the period. Morgan Stanley increased its position in Gladstone Capital by 15.3% in the second quarter. Morgan Stanley now owns 210,688 shares of the investment management company’s stock worth $2,408,000 after buying an additional 27,908 shares during the period. Finally, BlackRock Inc. increased its position in Gladstone Capital by 4.2% in the fourth quarter. BlackRock Inc. now owns 227,598 shares of the investment management company’s stock worth $2,638,000 after buying an additional 9,184 shares during the period. 10.11% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Capital Company Profile (Get Rating)

Gladstone Capital Corporation is a business development company specializing in lower middle market, growth capital, add on acquisitions, change of control, buy & build strategies, debt refinancing, debt investments in senior term loans, revolving loans, secured first and second lien 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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