Gladstone Investment Co. (NASDAQ:GAIN) declared a monthly dividend on Tuesday, July 9th, Zacks reports. Investors of record on Monday, July 22nd will be given a dividend of 0.068 per share by the investment management company on Wednesday, July 31st. This represents a $0.82 dividend on an annualized basis and a yield of 7.24%. The ex-dividend date of this dividend is Friday, July 19th.
Gladstone Investment has raised its dividend payment by an average of 2.6% per year over the last three years and has raised its dividend every year for the last 6 years. Gladstone Investment has a dividend payout ratio of 107.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Gladstone Investment to earn $0.81 per share next year, which means the company may not be able to cover its $0.82 annual dividend with an expected future payout ratio of 101.2%.
Shares of GAIN opened at $11.27 on Thursday. The business has a 50-day moving average of $11.36. The stock has a market cap of $375.49 million, a PE ratio of 14.86 and a beta of 0.85. Gladstone Investment has a 1-year low of $8.70 and a 1-year high of $12.70.
Gladstone Investment (NASDAQ:GAIN) last issued its quarterly earnings results on Monday, May 13th. The investment management company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The firm had revenue of $16.10 million for the quarter, compared to analysts’ expectations of $13.93 million. Gladstone Investment had a return on equity of 6.37% and a net margin of 136.75%. Analysts expect that Gladstone Investment will post 0.81 EPS for the current fiscal year.
A number of brokerages recently weighed in on GAIN. LADENBURG THALM/SH SH reissued a “buy” rating and issued a $1.25 price target on shares of Arch Therapeutics in a research note on Wednesday, May 15th. BidaskClub lowered Ames National from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine upgraded Xylem from a “hold” rating to a “buy” rating in a research report on Friday, June 21st. Finally, Zacks Investment Research upgraded Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Tuesday.
About Gladstone Investment
Gladstone Investment Corporation is a private equity fund specializing in lower middle market, acquisitions, mature stage, buyouts; recapitalizations; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.
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